IFP Advisors Inc Trims Position in Carrier Global Co. (NYSE:CARR)

IFP Advisors Inc cut its holdings in shares of Carrier Global Co. (NYSE:CARR) by 1.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 96,619 shares of the company’s stock after selling 1,111 shares during the period. IFP Advisors Inc’s holdings in Carrier Global were worth $6,597,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. FSM Wealth Advisors LLC increased its stake in shares of Carrier Global by 2.2% during the third quarter. FSM Wealth Advisors LLC now owns 6,373 shares of the company’s stock valued at $513,000 after buying an additional 136 shares during the period. Meridian Wealth Management LLC grew its stake in Carrier Global by 2.3% in the third quarter. Meridian Wealth Management LLC now owns 6,030 shares of the company’s stock worth $485,000 after purchasing an additional 137 shares during the period. UMB Bank n.a. grew its stake in Carrier Global by 1.1% in the fourth quarter. UMB Bank n.a. now owns 13,293 shares of the company’s stock worth $907,000 after purchasing an additional 143 shares during the period. Essex Savings Bank grew its stake in Carrier Global by 2.2% in the third quarter. Essex Savings Bank now owns 6,608 shares of the company’s stock worth $532,000 after purchasing an additional 144 shares during the period. Finally, Chicago Partners Investment Group LLC grew its stake in Carrier Global by 2.6% in the fourth quarter. Chicago Partners Investment Group LLC now owns 5,887 shares of the company’s stock worth $403,000 after purchasing an additional 147 shares during the period. 91.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Citigroup reduced their price target on Carrier Global from $94.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Northcoast Research assumed coverage on Carrier Global in a research note on Friday, November 22nd. They issued a “neutral” rating on the stock. Barclays reduced 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, February 12th. UBS Group raised Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price target on the stock in a research note on Wednesday, November 13th. Finally, Royal Bank of Canada cut their target price on Carrier Global from $86.00 to $76.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 12th. Seven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Carrier Global currently has a consensus rating of “Moderate Buy” and an average price target of $82.64.

Carrier Global Trading Down 1.5 %

Shares of NYSE:CARR opened at $66.10 on Monday. The company has a market cap of $57.39 billion, a P/E ratio of 10.52, a PEG ratio of 2.01 and a beta of 1.35. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.25 and a quick ratio of 0.96. Carrier Global Co. has a 1 year low of $53.33 and a 1 year high of $83.32. The stock’s fifty day moving average price is $67.46 and its 200-day moving average price is $72.40.

Carrier Global (NYSE:CARR) last announced its quarterly earnings results on Tuesday, February 11th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03. Carrier Global had a return on equity of 18.82% and a net margin of 23.83%. During the same quarter in the prior year, the company earned $0.53 EPS. Sell-side analysts expect that Carrier Global Co. will post 2.99 earnings per share for the current year.

Carrier Global Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, December 20th were issued a dividend of $0.225 per share. This is an increase 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 1.36%. The ex-dividend date of this dividend was Friday, December 20th. Carrier Global’s dividend payout ratio is presently 14.33%.

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.