Carrier Global Co. (NYSE:CARR) Stock Position Cut by Arkadios Wealth Advisors

Arkadios Wealth Advisors trimmed its stake in shares of Carrier Global Co. (NYSE:CARR) by 16.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 10,223 shares of the company’s stock after selling 1,976 shares during the period. Arkadios Wealth Advisors’ holdings in Carrier Global were worth $698,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in CARR. State Street Corp boosted its position in shares of Carrier Global by 1.4% in the 3rd quarter. State Street Corp now owns 33,665,505 shares of the company’s stock valued at $2,709,736,000 after purchasing an additional 469,108 shares during the period. Geode Capital Management LLC increased its stake in shares of Carrier Global by 1.7% in the third quarter. Geode Capital Management LLC now owns 16,937,689 shares of the company’s stock worth $1,357,961,000 after acquiring an additional 289,439 shares during the last quarter. Fisher Asset Management LLC increased its position in Carrier Global by 1.9% in the 3rd quarter. Fisher Asset Management LLC now owns 14,267,109 shares of the company’s stock worth $1,148,360,000 after purchasing an additional 269,538 shares during the last quarter. FMR LLC raised its position in Carrier Global by 36.2% during the third quarter. FMR LLC now owns 8,729,073 shares of the company’s stock valued at $702,603,000 after acquiring an additional 2,320,909 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Carrier Global by 1.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,993,169 shares of the company’s stock valued at $482,390,000 after purchasing an additional 110,988 shares in the last quarter. 91.00% of the stock is owned by institutional investors and hedge funds.

Carrier Global Stock Performance

Shares of Carrier Global stock opened at $69.74 on Tuesday. 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 company has a market capitalization of $62.57 billion, a PE ratio of 17.66, a PEG ratio of 2.03 and a beta of 1.36. The stock’s fifty day simple moving average is $71.96 and its 200 day simple moving average is $72.31.

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

Carrier Global Increases Dividend

The firm 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 represents a $0.90 annualized dividend and a dividend 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 payout ratio is 22.78%.

Analyst Ratings Changes

CARR has been the subject of several analyst reports. Citigroup decreased their target price 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. Barclays lowered their price objective on shares of Carrier Global from $92.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Stephens lowered their price objective on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Monday, October 28th. Bank of America lifted their price target on shares of Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Finally, The Goldman Sachs Group started coverage on Carrier Global in a report on Thursday, December 12th. They issued a “buy” rating and a $96.00 target price for the company. Eight equities research 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 company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $83.93.

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.