Trust Co. of Vermont Increases Stock Position in Carrier Global Co. (NYSE:CARR)

Trust Co. of Vermont raised its stake in Carrier Global Co. (NYSE:CARR) by 0.4% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 38,929 shares of the company’s stock after purchasing an additional 163 shares during the quarter. Trust Co. of Vermont’s holdings in Carrier Global were worth $2,657,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC raised its position in Carrier Global by 36.2% in the 3rd quarter. FMR LLC now owns 8,729,073 shares of the company’s stock worth $702,603,000 after purchasing an additional 2,320,909 shares during the period. Zurich Insurance Group Ltd FI bought a new position in shares of Carrier Global in the third quarter worth approximately $130,479,000. Point72 Asset Management L.P. bought a new stake in Carrier Global during the 2nd quarter valued at $58,415,000. Mizuho Securities USA LLC grew its holdings in Carrier Global by 1,428.4% in the 3rd quarter. Mizuho Securities USA LLC now owns 987,500 shares of the company’s stock worth $79,484,000 after acquiring an additional 922,892 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in shares of Carrier Global by 8,797.3% during the third quarter. International Assets Investment Management LLC now owns 907,258 shares of the company’s stock worth $730,250,000 after purchasing an additional 897,061 shares during the period. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Carrier Global Stock Performance

CARR stock remained flat at $69.74 on Friday. 4,601,408 shares of the company traded hands, compared to its average volume of 4,039,499. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69. Carrier Global Co. has a 52 week low of $53.13 and a 52 week high of $83.32. The company has a market capitalization 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 company has a 50-day moving average of $71.96 and a 200-day moving average of $72.18.

Carrier Global announced that its board has approved a stock buyback plan on Thursday, October 24th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the company to buy up to 4.6% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.

Carrier Global Increases Dividend

The company also recently disclosed 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 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date is Friday, December 20th. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s dividend payout ratio is 22.78%.

Wall Street Analysts Forecast Growth

CARR has been the subject of a number of recent analyst reports. Mizuho upped their target price on Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Royal Bank of Canada reduced their target price on Carrier Global from $87.00 to $86.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. JPMorgan Chase & Co. lowered their target price on Carrier Global from $83.00 to $77.00 and set a “neutral” rating for the company in a research note on Wednesday. Northcoast Research assumed coverage on Carrier Global in a research note on Friday, November 22nd. They issued a “neutral” rating on the stock. Finally, Robert W. Baird dropped their target price on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Eight analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $83.93.

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.