B. Riley Wealth Advisors Inc. Reduces Stock Holdings in Carrier Global Co. (NYSE:CARR)

B. Riley Wealth Advisors Inc. reduced its stake in shares of Carrier Global Co. (NYSE:CARR) by 1.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,148 shares of the company’s stock after selling 257 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Carrier Global were worth $1,136,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Frank Rimerman Advisors LLC raised its holdings in Carrier Global by 54,708.0% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 13,702 shares of the company’s stock worth $864,000 after purchasing an additional 13,677 shares during the period. Kintegral Advisory LLC raised its holdings in Carrier Global by 44.2% in the 2nd quarter. Kintegral Advisory LLC now owns 28,395 shares of the company’s stock valued at $1,797,000 after buying an additional 8,705 shares during the period. Daiwa Securities Group Inc. lifted its holdings in shares of Carrier Global by 12.3% in the 3rd quarter. Daiwa Securities Group Inc. now owns 100,440 shares of the company’s stock worth $8,084,000 after acquiring an additional 11,032 shares during the last quarter. Cerity Partners LLC lifted its stake in Carrier Global by 39.0% during the 3rd quarter. Cerity Partners LLC now owns 136,821 shares of the company’s stock worth $11,013,000 after acquiring an additional 38,365 shares in the last quarter. Finally, Sheaff Brock Investment Advisors LLC acquired a new position in shares of Carrier Global in the third quarter worth $1,068,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. The Goldman Sachs Group began coverage on Carrier Global in a report on Thursday, December 12th. They issued a “buy” rating and a $96.00 target price on the stock. Mizuho increased their target price on shares of Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. UBS Group raised shares of 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. Barclays upped their price objective on Carrier Global from $89.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Finally, Bank of America lifted their price target on shares of Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Eight equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $83.50.

Carrier Global Price Performance

Shares of CARR stock opened at $70.28 on Wednesday. Carrier Global Co. has a 12 month low of $53.13 and a 12 month high of $83.32. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69. The stock has a 50 day moving average of $76.13 and a two-hundred day moving average of $71.49. The company has a market capitalization of $63.06 billion, a P/E ratio of 17.79, a P/E/G ratio of 2.73 and a beta of 1.33.

Carrier Global Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, December 20th will be issued a dividend of $0.225 per share. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.90 annualized dividend and a dividend yield of 1.28%. Carrier Global’s dividend payout ratio (DPR) is presently 22.78%.

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

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.