Griffin Asset Management Inc. Has $1.48 Million Stock Position in Carrier Global Co. (NYSE:CARR)

Griffin Asset Management Inc. grew its stake in Carrier Global Co. (NYSE:CARR) by 3.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,672 shares of the company’s stock after purchasing an additional 625 shares during the period. Griffin Asset Management Inc.’s holdings in Carrier Global were worth $1,479,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. FSA Wealth Management LLC acquired a new position in shares of Carrier Global in the 3rd quarter worth 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 buying an additional 310 shares during the period. Coastline Trust Co bought a new stake in Carrier Global during the third quarter valued at $37,000. Country Trust Bank acquired a new stake in Carrier Global during the 3rd quarter worth about $40,000. Finally, Capital Performance Advisors LLP bought a new position in shares of Carrier Global in the 3rd quarter worth about $44,000. Institutional investors own 91.00% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CARR. Mizuho boosted their price target on Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Royal Bank of Canada cut their target price on shares of Carrier Global from $87.00 to $86.00 and set an “outperform” rating on the stock in a research note on Friday, January 3rd. 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 note on Wednesday, October 2nd. Stephens cut their target price on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating on the stock in a report on Monday, October 28th. Finally, JPMorgan Chase & Co. cut their price target on Carrier Global from $83.00 to $77.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. Eight research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $83.93.

Carrier Global Stock Performance

NYSE CARR opened at $67.36 on Tuesday. The company’s 50 day moving average is $71.42 and its 200-day moving average is $72.55. The firm has a market cap of $60.44 billion, a P/E ratio of 17.05, a price-to-earnings-growth ratio of 2.26 and a beta of 1.36. Carrier Global Co. has a 12-month low of $53.13 and a 12-month high of $83.32. 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 declared that its board has authorized a share buyback plan on Thursday, October 24th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the company to buy up to 4.6% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Carrier Global Increases Dividend

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

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.