Carrier Global Co. (NYSE:CARR) Stock Position Reduced by Diversified Trust Co

Diversified Trust Co lowered its position in Carrier Global Co. (NYSE:CARR) by 6.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,649 shares of the company’s stock after selling 1,138 shares during the quarter. Diversified Trust Co’s holdings in Carrier Global were worth $1,136,000 at the end of the most recent quarter.

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

Carrier Global Price Performance

Shares of CARR stock opened at $68.34 on Thursday. Carrier Global Co. has a 1 year low of $53.13 and a 1 year 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 firm’s 50 day moving average is $72.76 and its 200-day moving average is $71.99. The firm has a market capitalization of $61.32 billion, a price-to-earnings ratio of 17.30, a PEG ratio of 2.73 and a beta of 1.36.

Carrier Global announced that its board has authorized a share repurchase program on Thursday, October 24th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the company to reacquire up to 4.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Carrier Global Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, December 20th will be issued a dividend of $0.225 per share. This is an increase from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.90 annualized dividend and a yield of 1.32%. Carrier Global’s dividend payout ratio is currently 22.78%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. 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 research note on Wednesday, November 13th. Wells Fargo & Company dropped their price target on shares of Carrier Global from $80.00 to $75.00 and set an “equal weight” rating for the company in a research report on Tuesday. JPMorgan Chase & Co. started coverage on Carrier Global in a report on Thursday, October 10th. They set a “neutral” rating and a $83.00 price objective on the stock. The Goldman Sachs Group began coverage on Carrier Global in a research report on Thursday, December 12th. They set a “buy” rating and a $96.00 target price for the company. Finally, Royal Bank of Canada lowered their price target on Carrier Global from $87.00 to $86.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. Eight investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $83.21.

Carrier Global 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.