Legacy CG LLC Sells 8,836 Shares of Carrier Global Co. (NYSE:CARR)

Legacy CG LLC reduced its position in shares of Carrier Global Co. (NYSE:CARR) by 11.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 65,392 shares of the company’s stock after selling 8,836 shares during the period. Legacy CG LLC’s holdings in Carrier Global were worth $4,464,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. RFG Advisory LLC lifted its position in shares of Carrier Global by 36.2% during the 4th quarter. RFG Advisory LLC now owns 7,170 shares of the company’s stock valued at $489,000 after buying an additional 1,904 shares during the last quarter. Princeton Global Asset Management LLC increased its stake in shares of Carrier Global by 1,156.1% in the fourth quarter. Princeton Global Asset Management LLC now owns 20,663 shares of the company’s stock worth $1,410,000 after purchasing an additional 19,018 shares in the last quarter. Cerity Partners LLC raised its position in shares of Carrier Global by 39.0% in the third quarter. Cerity Partners LLC now owns 136,821 shares of the company’s stock valued at $11,013,000 after purchasing an additional 38,365 shares during the period. Daiwa Securities Group Inc. lifted its stake in shares of Carrier Global by 12.3% during the 3rd quarter. Daiwa Securities Group Inc. now owns 100,440 shares of the company’s stock valued at $8,084,000 after buying an additional 11,032 shares in the last quarter. Finally, Miracle Mile Advisors LLC purchased a new position in Carrier Global in the 4th quarter valued at approximately $2,213,000. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Carrier Global Stock Up 1.0 %

Shares of Carrier Global stock opened at $64.52 on Thursday. The company’s 50 day moving average price is $69.69 and its 200-day moving average price is $72.40. 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 stock has a market capitalization of $57.89 billion, a price-to-earnings ratio of 16.33, a P/E/G ratio of 2.12 and a beta of 1.35.

Carrier Global announced that its Board of Directors has authorized a share buyback program on Thursday, October 24th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 4.6% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Carrier Global Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, December 20th will be paid a $0.225 dividend. The ex-dividend date is Friday, December 20th. 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 1.40%. Carrier Global’s dividend payout ratio (DPR) is presently 22.78%.

Analysts Set New Price Targets

CARR has been the topic of several recent research reports. Mizuho increased their target price on Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Northcoast Research started coverage on shares of Carrier Global in a report on Friday, November 22nd. They issued a “neutral” rating on the stock. Bank of America upped their target price on shares of Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. The Goldman Sachs Group started coverage on shares of Carrier Global in a research report on Thursday, December 12th. They set a “buy” rating and a $96.00 price target for the company. Finally, Stephens dropped their price objective on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a research note on Monday, October 28th. Eight analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Carrier Global currently has a consensus rating of “Moderate Buy” and a consensus price target 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.