Montag A & Associates Inc. Has $894,000 Holdings in Carrier Global Co. (NYSE:CARR)

Montag A & Associates Inc. cut its stake in shares of Carrier Global Co. (NYSE:CARR) by 12.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,055 shares of the company’s stock after selling 1,936 shares during the period. Montag A & Associates Inc.’s holdings in Carrier Global were worth $894,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of CARR. FMR LLC lifted 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 worth $702,603,000 after acquiring an additional 2,320,909 shares during the last quarter. Zurich Insurance Group Ltd FI acquired a new stake in Carrier Global during the third quarter worth approximately $130,479,000. Mizuho Securities USA LLC lifted its position in Carrier Global by 1,428.4% during the third 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. International Assets Investment Management LLC increased 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. Finally, State Street Corp increased its holdings in shares of Carrier Global by 1.4% during 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. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CARR has been the topic of several recent research reports. JPMorgan Chase & Co. lowered their target price on shares of Carrier Global from $83.00 to $77.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. Robert W. Baird lowered 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. Wells Fargo & Company lowered their target price on shares of Carrier Global from $75.00 to $70.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 12th. Northcoast Research initiated coverage on shares of Carrier Global in a report on Friday, November 22nd. They set a “neutral” rating on the stock. Finally, Stephens lowered their target price on shares of Carrier Global from $85.00 to $80.00 and set an “equal weight” rating on the stock in a report on Monday, October 28th. Seven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Carrier Global presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.64.

Carrier Global Stock Performance

NYSE CARR opened at $65.19 on Monday. The firm’s fifty day moving average price is $68.17 and its two-hundred day moving average price is $72.33. The stock has a market cap of $58.49 billion, a PE ratio of 16.50, a PEG ratio of 2.11 and a beta of 1.35. Carrier Global Co. has a fifty-two week low of $53.13 and a fifty-two week high of $83.32. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 1.08.

Carrier Global (NYSE:CARR) last posted its earnings results on Tuesday, February 11th. The company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.03. Carrier Global had a net margin of 14.98% and a return on equity of 20.52%. During the same quarter in the previous year, the firm earned $0.53 EPS. On average, equities analysts expect that Carrier Global Co. will post 2.52 EPS for the current fiscal year.

Carrier Global Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, December 20th were paid a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend was Friday, December 20th. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s payout ratio is presently 22.78%.

Carrier Global declared that its Board of Directors has approved a share repurchase program on Thursday, October 24th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 4.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are 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.