Carrier Global Co. (NYSE:CARR) Stock Position Decreased by Pathway Financial Advisers LLC

Pathway Financial Advisers LLC cut its stake in shares of Carrier Global Co. (NYSE:CARR) by 98.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 733 shares of the company’s stock after selling 58,090 shares during the period. Pathway Financial Advisers LLC’s holdings in Carrier Global were worth $50,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. FSM Wealth Advisors LLC grew its position in Carrier Global by 2.2% during the 3rd quarter. FSM Wealth Advisors LLC now owns 6,373 shares of the company’s stock worth $513,000 after purchasing an additional 136 shares in the last quarter. Meridian Wealth Management LLC lifted its holdings in shares of Carrier Global by 2.3% in the third quarter. Meridian Wealth Management LLC now owns 6,030 shares of the company’s stock valued at $485,000 after purchasing an additional 137 shares in the last quarter. UMB Bank n.a. boosted its position in shares of Carrier Global by 1.1% in the fourth quarter. UMB Bank n.a. now owns 13,293 shares of the company’s stock worth $907,000 after buying an additional 143 shares during the period. Essex Savings Bank grew its holdings in shares of Carrier Global by 2.2% during the third quarter. Essex Savings Bank now owns 6,608 shares of the company’s stock valued at $532,000 after buying an additional 144 shares in the last quarter. Finally, Chicago Partners Investment Group LLC raised its position in Carrier Global by 2.6% during the fourth quarter. Chicago Partners Investment Group LLC now owns 5,887 shares of the company’s stock valued at $403,000 after buying an additional 147 shares during the period. 91.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CARR has been the subject of a number of research reports. Royal Bank of Canada decreased their price objective on Carrier Global from $86.00 to $76.00 and set an “outperform” rating for the company in a research report on Wednesday. The Goldman Sachs Group started coverage on shares of Carrier Global in a report on Thursday, December 12th. They set a “buy” rating and a $96.00 price target for the company. Robert W. Baird dropped their price objective on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Citigroup decreased their target price on shares of Carrier Global from $94.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Finally, Barclays dropped their price target on shares of Carrier Global from $90.00 to $87.00 and set an “overweight” rating on the stock in a research note on Wednesday. Eight analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Carrier Global has a consensus rating of “Moderate Buy” and a consensus target price of $82.64.

Carrier Global Stock Up 0.2 %

Shares of Carrier Global stock opened at $63.70 on Friday. Carrier Global Co. has a 12-month low of $53.13 and a 12-month high of $83.32. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69. The stock has a 50 day moving average price of $68.55 and a two-hundred day moving average price of $72.34. The stock has a market capitalization of $57.15 billion, a P/E ratio of 16.13, a PEG ratio of 2.11 and a beta of 1.35.

Carrier Global (NYSE:CARR) last posted its quarterly earnings data on Tuesday, February 11th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.03. Carrier Global had a net margin of 14.98% and a return on equity of 20.52%. During the same quarter in the prior year, the company posted $0.53 earnings per share. Equities analysts expect that Carrier Global Co. will post 2.52 earnings per share for the current year.

Carrier Global Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, December 20th were paid a $0.225 dividend. The ex-dividend date of this dividend was Friday, December 20th. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.41%. Carrier Global’s payout ratio is presently 22.78%.

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

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.