Choreo LLC Decreases Holdings in Carrier Global Co. (NYSE:CARR)

Choreo LLC trimmed its position in shares of Carrier Global Co. (NYSE:CARR) by 2.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 62,023 shares of the company’s stock after selling 1,373 shares during the quarter. Choreo LLC’s holdings in Carrier Global were worth $4,233,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. FSA Wealth Management LLC purchased a new position in Carrier Global in the third quarter worth about $28,000. McClarren Financial Advisors Inc. lifted its stake in shares of Carrier Global by 246.0% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock worth $35,000 after purchasing an additional 310 shares during the period. Coastline Trust Co purchased a new position in shares of Carrier Global in the third quarter worth approximately $37,000. Country Trust Bank bought a new stake in Carrier Global during the third quarter valued at approximately $40,000. Finally, Capital Performance Advisors LLP purchased a new stake in Carrier Global during the third quarter valued at approximately $44,000. Institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Performance

Shares of NYSE CARR opened at $64.52 on Thursday. The company has a market cap of $57.89 billion, a P/E ratio of 16.33, a P/E/G ratio of 2.12 and a beta of 1.35. Carrier Global Co. has a 52-week low of $53.13 and a 52-week high of $83.32. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 1.08. The firm’s fifty day moving average is $69.93 and its two-hundred day moving average is $72.46.

Carrier Global declared that its board has authorized a stock repurchase plan on Thursday, October 24th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the company to buy up to 4.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Carrier Global Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, December 20th will be issued a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 1.40%. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date is Friday, December 20th. Carrier Global’s payout ratio is 22.78%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. cut their price objective on shares of Carrier Global from $83.00 to $77.00 and set a “neutral” rating for the company in a research report on Wednesday, January 15th. Northcoast Research assumed coverage on Carrier Global in a report on Friday, November 22nd. They set a “neutral” rating for the company. Barclays reduced their price target on Carrier Global from $92.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Stephens lowered their price objective on 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, Mizuho increased their target price on shares of Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Eight research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently 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.