Carrier Global Co. (NYSE:CARR) Shares Purchased by Perigon Wealth Management LLC

Perigon Wealth Management LLC increased its position in shares of Carrier Global Co. (NYSE:CARR) by 1.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,510 shares of the company’s stock after purchasing an additional 588 shares during the quarter. Perigon Wealth Management LLC’s holdings in Carrier Global were worth $2,616,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of CARR. FSA Wealth Management LLC acquired a new position in Carrier Global in the third quarter valued at approximately $28,000. McClarren Financial Advisors Inc. lifted its holdings in Carrier Global by 246.0% in the third quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock valued at $35,000 after acquiring an additional 310 shares during the period. Coastline Trust Co acquired a new position in Carrier Global in the third quarter valued at approximately $37,000. Country Trust Bank acquired a new position in Carrier Global in 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 Down 3.7 %

Shares of CARR opened at $64.78 on Thursday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 1.08. Carrier Global Co. has a one year low of $53.13 and a one year high of $83.32. The stock has a market capitalization of $58.12 billion, a price-to-earnings ratio of 16.40, a PEG ratio of 2.26 and a beta of 1.36. The stock has a 50 day moving average price of $71.14 and a 200 day moving average price of $72.57.

Carrier Global announced that its Board of Directors has approved a stock buyback program on Thursday, October 24th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the company to purchase up to 4.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Carrier Global Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, December 20th will be given a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 1.39%. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date is Friday, December 20th. Carrier Global’s payout ratio is presently 22.78%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Mizuho boosted their price target on Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. The Goldman Sachs Group assumed coverage on Carrier Global in a report on Thursday, December 12th. They issued a “buy” rating and a $96.00 price target for the company. Citigroup cut their price objective on Carrier Global from $94.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Royal Bank of Canada cut their price objective on Carrier Global from $87.00 to $86.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. Finally, Stephens cut their price objective on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a research report on Monday, October 28th. Eight analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $83.93.

Carrier Global Company 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.