Brooklyn Investment Group Boosts Position in Carrier Global Co. (NYSE:CARR)

Brooklyn Investment Group grew its holdings in Carrier Global Co. (NYSE:CARR) by 16.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,611 shares of the company’s stock after acquiring an additional 505 shares during the period. Brooklyn Investment Group’s holdings in Carrier Global were worth $246,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. FSA Wealth Management LLC purchased a new stake in Carrier Global in the third quarter valued at $28,000. McClarren Financial Advisors Inc. boosted its stake in shares of Carrier Global by 246.0% in the third quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock worth $35,000 after buying an additional 310 shares during the last quarter. Coastline Trust Co acquired a new stake in Carrier Global during the third quarter worth about $37,000. Country Trust Bank purchased a new position in Carrier Global during the third quarter valued at approximately $40,000. Finally, Capital Performance Advisors LLP acquired a new position in Carrier Global in the third quarter valued at approximately $44,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Stock Performance

Shares of CARR opened at $69.74 on Friday. Carrier Global Co. has a 52-week low of $53.13 and a 52-week high of $83.32. The stock has a market cap of $62.57 billion, a PE ratio of 17.66, a price-to-earnings-growth ratio of 2.03 and a beta of 1.36. The firm’s fifty day moving average is $71.96 and its two-hundred day moving average is $72.18. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69.

Carrier Global announced that its board has initiated a share repurchase plan on Thursday, October 24th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 4.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Carrier Global Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, December 20th will be issued a $0.225 dividend. This is an increase from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date is Friday, December 20th. This represents a $0.90 dividend on an annualized basis and a yield of 1.29%. Carrier Global’s dividend payout ratio is presently 22.78%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CARR. Robert W. Baird dropped their price objective on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Barclays dropped their price target on shares of Carrier Global from $92.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Mizuho upped their price objective on shares of Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. The Goldman Sachs Group initiated coverage on Carrier Global in a research report on Thursday, December 12th. They set a “buy” rating and a $96.00 target price on the stock. Finally, Wells Fargo & Company reduced their price target on Carrier Global from $80.00 to $75.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Eight investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $83.93.

About Carrier Global

Carrier Global Corporation provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies in the United States, Europe, the Asia Pacific, and internationally. It operates through three segments: HVAC, Refrigeration, and Fire & Security.