Empirical Financial Services LLC d.b.a. Empirical Wealth Management Purchases 7,103 Shares of Carrier Global Co. (NYSE:CARR)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in shares of Carrier Global Co. (NYSE:CARR) by 3.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 205,646 shares of the company’s stock after buying an additional 7,103 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Carrier Global were worth $14,038,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Blue Square Asset Management LLC raised its holdings in shares of Carrier Global by 3.1% in the 4th quarter. Blue Square Asset Management LLC now owns 33,585 shares of the company’s stock worth $2,293,000 after acquiring an additional 1,006 shares during the last quarter. First Citizens Bank & Trust Co. raised its stake in shares of Carrier Global by 4.6% in the fourth quarter. First Citizens Bank & Trust Co. now owns 10,641 shares of the company’s stock worth $726,000 after purchasing an additional 469 shares during the last quarter. Flagship Harbor Advisors LLC lifted its holdings in shares of Carrier Global by 5.8% in the fourth quarter. Flagship Harbor Advisors LLC now owns 5,447 shares of the company’s stock valued at $372,000 after purchasing an additional 301 shares in the last quarter. CX Institutional boosted its position in shares of Carrier Global by 7.7% during the fourth quarter. CX Institutional now owns 13,612 shares of the company’s stock valued at $929,000 after buying an additional 968 shares during the last quarter. Finally, RFG Advisory LLC grew its holdings in Carrier Global by 36.2% during the fourth quarter. RFG Advisory LLC now owns 7,170 shares of the company’s stock worth $489,000 after buying an additional 1,904 shares in the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on CARR shares. Citigroup dropped their price objective 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. Royal Bank of Canada dropped their price target on shares of Carrier Global from $87.00 to $86.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. Bank of America upped their price objective on shares of Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Stephens dropped 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 research report on Monday, October 28th. Finally, Barclays reduced their target price on Carrier Global from $92.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Eight analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $83.93.

Carrier Global Stock Up 0.2 %

CARR stock opened at $70.05 on Monday. The stock has a fifty day moving average of $71.42 and a 200-day moving average of $72.49. 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 market capitalization of $62.85 billion, a price-to-earnings ratio of 17.74, a PEG ratio of 2.26 and a beta of 1.36. 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 Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, December 20th will be given a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date is Friday, December 20th. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s dividend payout ratio (DPR) is currently 22.78%.

Carrier Global announced that its board has initiated a stock repurchase plan on Thursday, October 24th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 4.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is 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.