Tower View Wealth Management LLC Increases Holdings in Carrier Global Co. (NYSE:CARR)

Tower View Wealth Management LLC increased its stake in shares of Carrier Global Co. (NYSE:CARR) by 2.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 60,654 shares of the company’s stock after acquiring an additional 1,166 shares during the quarter. Carrier Global makes up about 2.2% of Tower View Wealth Management LLC’s investment portfolio, making the stock its 18th largest position. Tower View Wealth Management LLC’s holdings in Carrier Global were worth $4,140,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in CARR. State Street Corp raised 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 valued at $2,709,736,000 after purchasing an additional 469,108 shares during the period. Geode Capital Management LLC raised its position in Carrier Global by 1.7% in 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 position in Carrier Global by 0.3% in the fourth quarter. Fisher Asset Management LLC now owns 14,313,331 shares of the company’s stock valued at $977,028,000 after purchasing an additional 46,222 shares during the period. FMR LLC raised 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 valued at $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 raised its position in Carrier Global by 1.9% in 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 valued at $482,390,000 after purchasing an additional 110,988 shares during the period. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Up 1.1 %

Shares of NYSE CARR opened at $64.81 on Friday. The company has a market capitalization of $56.00 billion, a price-to-earnings ratio of 10.32, a price-to-earnings-growth 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. The business has a 50-day moving average of $67.15 and a two-hundred day moving average of $72.38. Carrier Global Co. has a 1 year low of $53.33 and a 1 year high of $83.32.

Carrier Global (NYSE:CARR) last posted its earnings results on Tuesday, February 11th. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate 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 period in the prior year, the company posted $0.53 earnings per share. On average, analysts forecast that Carrier Global Co. will post 2.99 earnings per share for the current fiscal year.

Carrier Global Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, December 20th were issued a $0.225 dividend. This is an increase from Carrier Global’s previous quarterly dividend of $0.19. This represents a $0.90 annualized dividend and a dividend yield of 1.39%. The ex-dividend date was Friday, December 20th. Carrier Global’s payout ratio is presently 14.33%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on CARR shares. UBS Group raised 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. 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 price objective for the company. Northcoast Research started coverage on Carrier Global in a research note on Friday, November 22nd. They issued a “neutral” rating for the company. Wells Fargo & Company dropped their price objective on Carrier Global from $75.00 to $70.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 12th. Finally, Barclays dropped their price objective on Carrier Global from $90.00 to $87.00 and set an “overweight” rating for the company in a research note on Wednesday, February 12th. Six investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.47.

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.