RFG Advisory LLC Buys 1,904 Shares of Carrier Global Co. (NYSE:CARR)

RFG Advisory LLC increased its position in shares of Carrier Global Co. (NYSE:CARR) by 36.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,170 shares of the company’s stock after purchasing an additional 1,904 shares during the quarter. RFG Advisory LLC’s holdings in Carrier Global were worth $489,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Public Sector Pension Investment Board raised its holdings in shares of Carrier Global by 59.5% during the 2nd quarter. Public Sector Pension Investment Board now owns 35,885 shares of the company’s stock worth $2,264,000 after buying an additional 13,385 shares in the last quarter. Lighthouse Investment Partners LLC acquired a new position in Carrier Global during the second quarter worth about $372,000. Creative Planning lifted its holdings in shares of Carrier Global by 4.3% in the second quarter. Creative Planning now owns 453,571 shares of the company’s stock worth $28,611,000 after acquiring an additional 18,895 shares during the last quarter. NewEdge Advisors LLC boosted its stake in shares of Carrier Global by 3.1% in the 2nd quarter. NewEdge Advisors LLC now owns 35,001 shares of the company’s stock valued at $2,208,000 after purchasing an additional 1,058 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Carrier Global by 2.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 40,296 shares of the company’s stock valued at $2,542,000 after acquiring an additional 884 shares in the last quarter. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently commented on CARR. 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. Oppenheimer upped their price objective on shares of Carrier Global from $74.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Stephens dropped their price objective on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Monday, October 28th. The Goldman Sachs Group started coverage on Carrier Global in a research note on Thursday, December 12th. They issued a “buy” rating and a $96.00 target price on the stock. Finally, UBS Group upgraded shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price objective for the company in a report on Wednesday, November 13th. Eight investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $83.93.

Carrier Global Stock Performance

Shares of NYSE:CARR opened at $67.36 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 market cap of $60.44 billion, a price-to-earnings ratio of 17.05, a price-to-earnings-growth ratio of 2.26 and a beta of 1.36. 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 50-day moving average price of $71.42 and a 200-day moving average price of $72.55.

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 given a $0.225 dividend. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date is Friday, December 20th. Carrier Global’s dividend payout ratio (DPR) is currently 22.78%.

Carrier Global announced that its Board of Directors has approved a share repurchase program on Thursday, October 24th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the company to buy up to 4.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is 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.