Carrier Global Co. (NYSE:CARR) Shares Sold by Foster & Motley Inc.

Foster & Motley Inc. trimmed its position in Carrier Global Co. (NYSE:CARR) by 11.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 9,044 shares of the company’s stock after selling 1,203 shares during the quarter. Foster & Motley Inc.’s holdings in Carrier Global were worth $617,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CARR. FSA Wealth Management LLC acquired a new stake in Carrier Global in the 3rd quarter valued at about $28,000. McClarren Financial Advisors Inc. lifted its position in Carrier Global by 246.0% during the third quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock worth $35,000 after buying an additional 310 shares in the last quarter. Coastline Trust Co acquired a new position in Carrier Global during the third quarter worth $37,000. Country Trust Bank purchased a new stake in Carrier Global in the 3rd quarter valued at $40,000. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Carrier Global in the 3rd quarter worth $44,000. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Carrier Global Price Performance

Shares of CARR opened at $65.29 on Friday. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69. 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 cap of $58.58 billion, a P/E ratio of 16.53, a PEG ratio of 2.10 and a beta of 1.36. The firm’s 50 day moving average price is $70.75 and its 200 day moving average price is $72.47.

Carrier Global Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, December 20th will be paid a $0.225 dividend. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. This represents a $0.90 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend is Friday, December 20th. Carrier Global’s dividend payout ratio (DPR) is presently 22.78%.

Carrier Global announced that its board has initiated a share repurchase plan on Thursday, October 24th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 4.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

CARR has been the topic of several recent research reports. Bank of America boosted their price target on shares of Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. JPMorgan Chase & Co. dropped their price target on shares of Carrier Global from $83.00 to $77.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. Northcoast Research began coverage on shares of Carrier Global in a research report on Friday, November 22nd. They set a “neutral” rating on the stock. Stephens lowered their price objective on 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. Finally, UBS Group upgraded Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 target price on the stock in a research report on Wednesday, November 13th. Eight investment 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 MarketBeat.com, Carrier Global currently has a consensus rating of “Moderate Buy” and an average 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.