Flagship Harbor Advisors LLC Raises Stock Position in Carrier Global Co. (NYSE:CARR)

Flagship Harbor Advisors LLC lifted its stake in Carrier Global Co. (NYSE:CARR) by 5.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,447 shares of the company’s stock after purchasing an additional 301 shares during the period. Flagship Harbor Advisors LLC’s holdings in Carrier Global were worth $372,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of CARR. FSA Wealth Management LLC purchased a new position in shares of Carrier Global during the 3rd quarter worth approximately $28,000. McClarren Financial Advisors Inc. boosted its position in shares of Carrier Global by 246.0% during the third quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock valued at $35,000 after purchasing an additional 310 shares in the last quarter. Coastline Trust Co purchased a new stake in Carrier Global in the third quarter worth $37,000. Country Trust Bank purchased a new position in Carrier Global during the third quarter valued at $40,000. Finally, Capital Performance Advisors LLP bought a new stake in shares of Carrier Global during the 3rd quarter valued at $44,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on CARR shares. Oppenheimer lifted their price target on shares of Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Royal Bank of Canada dropped their price target on Carrier Global from $87.00 to $86.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. Wells Fargo & Company reduced their price objective on Carrier Global from $80.00 to $75.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. UBS Group raised Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 target price on the stock in a report on Wednesday, November 13th. Finally, The Goldman Sachs Group initiated coverage on Carrier Global in a research report on Thursday, December 12th. They issued a “buy” rating and a $96.00 price target for the company. Eight analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $83.93.

Carrier Global Stock Down 0.2 %

Shares of Carrier Global stock opened at $67.32 on Wednesday. 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 Co. has a twelve month low of $53.13 and a twelve month high of $83.32. The company has a market cap of $60.40 billion, a price-to-earnings ratio of 17.04, a price-to-earnings-growth ratio of 2.26 and a beta of 1.36. The company’s 50 day moving average is $71.28 and its 200 day moving average is $72.56.

Carrier Global Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, December 20th will be paid a $0.225 dividend. This is an increase from Carrier Global’s previous quarterly dividend of $0.19. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date of this dividend is Friday, December 20th. Carrier Global’s dividend payout ratio (DPR) is 22.78%.

Carrier Global declared that its board has authorized a share repurchase plan on Thursday, October 24th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 4.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Carrier Global Profile

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.