Pathway Financial Advisers LLC Sells 58,090 Shares of Carrier Global Co. (NYSE:CARR)

Pathway Financial Advisers LLC lowered its stake in shares of Carrier Global Co. (NYSE:CARR) by 98.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 733 shares of the company’s stock after selling 58,090 shares during the period. Pathway Financial Advisers LLC’s holdings in Carrier Global were worth $50,000 as of its most recent filing with the SEC.

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

Carrier Global Price Performance

CARR opened at $63.70 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.08 and a quick ratio of 0.82. The stock has a market capitalization of $57.15 billion, a P/E ratio of 16.13, a price-to-earnings-growth ratio of 2.11 and a beta of 1.35. The company’s 50 day simple moving average is $68.55 and its 200-day simple moving average is $72.34. Carrier Global Co. has a one year low of $53.13 and a one year high of $83.32.

Carrier Global (NYSE:CARR) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03. Carrier Global had a return on equity of 20.52% and a net margin of 14.98%. During the same period last year, the business posted $0.53 EPS. Sell-side analysts anticipate that Carrier Global Co. will post 2.52 earnings per share for the current fiscal year.

Carrier Global declared that its Board of Directors has initiated a stock repurchase plan on Thursday, October 24th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 4.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Carrier Global Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, December 20th were issued a dividend of $0.225 per share. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. This represents a $0.90 annualized dividend and a yield of 1.41%. The ex-dividend date was Friday, December 20th. Carrier Global’s payout ratio is currently 22.78%.

Wall Street Analysts Forecast Growth

CARR has been the subject of several recent research reports. JPMorgan Chase & Co. dropped their price target on shares of Carrier Global from $83.00 to $77.00 and set a “neutral” rating for the company in a research report on Wednesday, January 15th. Stephens dropped their target price on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a report on Monday, October 28th. Barclays decreased their price target on Carrier Global from $90.00 to $87.00 and set an “overweight” rating on the stock in a research note on Wednesday. Northcoast Research assumed coverage on Carrier Global in a research note on Friday, November 22nd. They set a “neutral” rating for the company. Finally, Citigroup reduced their target price on shares of Carrier Global from $94.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Eight equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Carrier Global has an average rating of “Moderate Buy” and an average target price of $82.64.

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.