Baker Ellis Asset Management LLC Sells 1,568 Shares of Carrier Global Co. (NYSE:CARR)

Baker Ellis Asset Management LLC lessened its stake in Carrier Global Co. (NYSE:CARR) by 1.6% in the fourth quarter, HoldingsChannel reports. The firm owned 96,338 shares of the company’s stock after selling 1,568 shares during the period. Baker Ellis Asset Management LLC’s holdings in Carrier Global were worth $6,576,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in CARR. FSA Wealth Management LLC bought a new stake in Carrier Global in the 3rd quarter worth approximately $28,000. McClarren Financial Advisors Inc. grew its position in shares of Carrier Global by 246.0% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock valued at $35,000 after acquiring an additional 310 shares during the period. Coastline Trust Co bought a new stake in shares of Carrier Global during the 3rd quarter valued at $37,000. Country Trust Bank bought a new stake in shares of Carrier Global during the 3rd quarter valued at $40,000. Finally, Capital Performance Advisors LLP bought a new stake in shares of Carrier Global during the 3rd quarter valued at $44,000. Institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Down 0.8 %

Shares of CARR stock opened at $70.01 on Thursday. The stock has a market cap of $62.81 billion, a P/E ratio of 17.72, a PEG ratio of 2.24 and a beta of 1.36. Carrier Global Co. has a 52 week low of $53.13 and a 52 week high of $83.32. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69. The company’s fifty day simple moving average is $71.74 and its two-hundred day simple moving average is $72.40.

Carrier Global Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, December 20th will be paid a $0.225 dividend. The ex-dividend date is Friday, December 20th. This represents a $0.90 annualized dividend and a yield of 1.29%. 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 announced that its Board of Directors has initiated a stock repurchase plan on Thursday, October 24th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 4.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on CARR shares. Northcoast Research started coverage on shares of Carrier Global in a research report on Friday, November 22nd. They set a “neutral” rating for the company. Citigroup cut their price objective on shares of Carrier Global from $94.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Stephens cut their price objective on shares of Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a research report on Monday, October 28th. The Goldman Sachs Group initiated coverage on shares of Carrier Global in a report on Thursday, December 12th. They issued a “buy” rating and a $96.00 target price for the company. Finally, Royal Bank of Canada dropped their target price on shares of Carrier Global from $87.00 to $86.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Eight equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $83.93.

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.