Carrier Global Co. (NYSE:CARR) Shares Sold by Beese Fulmer Investment Management Inc.

Beese Fulmer Investment Management Inc. lessened its holdings in shares of Carrier Global Co. (NYSE:CARR) by 1.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,887 shares of the company’s stock after selling 357 shares during the period. Beese Fulmer Investment Management Inc.’s holdings in Carrier Global were worth $1,289,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. FSA Wealth Management LLC bought a new stake in Carrier Global during the third quarter worth approximately $28,000. McClarren Financial Advisors Inc. boosted its stake 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 buying an additional 310 shares during the period. Coastline Trust Co purchased a new position in Carrier Global in the third quarter valued at about $37,000. Capital Performance Advisors LLP acquired a new position in Carrier Global in the third quarter worth approximately $44,000. Finally, Ashton Thomas Securities LLC bought a new position in shares of Carrier Global during the 3rd quarter valued at $50,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on CARR. Stephens lowered 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 note on Monday, October 28th. Barclays dropped their price objective on shares of Carrier Global from $92.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Bank of America upped their price target on Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Royal Bank of Canada dropped their price target on Carrier Global from $87.00 to $86.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Finally, Wells Fargo & Company reduced their target price on shares of Carrier Global from $80.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Eight equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $83.93.

Carrier Global Stock Performance

Shares of CARR opened at $65.15 on Friday. The stock has a 50-day moving average price of $69.69 and a 200-day moving average price of $72.40. The company has a market cap of $58.45 billion, a PE ratio of 16.49, a price-to-earnings-growth ratio of 2.12 and a beta of 1.35. Carrier Global Co. has a 12-month low of $53.13 and a 12-month high of $83.32. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69.

Carrier Global announced that its Board of Directors has authorized a share repurchase plan on Thursday, October 24th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 4.6% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its stock is undervalued.

Carrier Global Increases Dividend

The firm also recently declared 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 annualized dividend and a yield of 1.38%. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Friday, December 20th. Carrier Global’s dividend payout ratio is presently 22.78%.

Carrier Global 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.