Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Sells 953 Shares of Carrier Global Co. (NYSE:CARR)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA trimmed its position in Carrier Global Co. (NYSE:CARR) by 11.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,386 shares of the company’s stock after selling 953 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Carrier Global were worth $498,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Wells Fargo & Company dropped their price target 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. The Goldman Sachs Group initiated coverage on Carrier Global in a research report on Thursday, December 12th. They set a “buy” rating and a $96.00 target price on the stock. Stephens lowered their price target 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. Northcoast Research initiated coverage on shares of Carrier Global in a report on Friday, November 22nd. They set a “neutral” rating on the stock. Finally, Robert W. Baird reduced their price objective on Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Eight investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Carrier Global currently has an average rating of “Moderate Buy” and an average price target of $83.93.

Carrier Global Trading Down 1.6 %

Shares of CARR stock opened at $64.17 on Monday. The stock has a market capitalization of $57.58 billion, a price-to-earnings ratio of 16.25, a PEG ratio of 2.11 and a beta of 1.35. The company’s fifty day simple moving average is $69.19 and its two-hundred day simple moving average is $72.36. Carrier Global Co. has a 1 year low of $53.13 and a 1 year high of $83.32. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.08 and a quick ratio of 0.82.

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

Carrier Global Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, December 20th were paid a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.40%. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Friday, December 20th. Carrier Global’s payout ratio is presently 22.78%.

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.