Carrier Global Co. (NYSE:CARR) Shares Acquired by Empower Advisory Group LLC

Empower Advisory Group LLC grew its stake in Carrier Global Co. (NYSE:CARR) by 6.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,962 shares of the company’s stock after purchasing an additional 177 shares during the quarter. Empower Advisory Group LLC’s holdings in Carrier Global were worth $202,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. CIBC Asset Management Inc lifted its stake in shares of Carrier Global by 4.1% in the fourth quarter. CIBC Asset Management Inc now owns 129,154 shares of the company’s stock worth $8,816,000 after buying an additional 5,044 shares in the last quarter. Sanctuary Advisors LLC lifted its stake in shares of Carrier Global by 2.7% in the fourth quarter. Sanctuary Advisors LLC now owns 72,289 shares of the company’s stock worth $4,769,000 after buying an additional 1,910 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Carrier Global by 4.1% in the fourth quarter. Principal Financial Group Inc. now owns 2,667,872 shares of the company’s stock worth $182,109,000 after buying an additional 105,995 shares in the last quarter. Strategic Advisors LLC lifted its stake in shares of Carrier Global by 10.0% in the fourth quarter. Strategic Advisors LLC now owns 3,526 shares of the company’s stock worth $241,000 after buying an additional 320 shares in the last quarter. Finally, J.W. Cole Advisors Inc. lifted its stake in shares of Carrier Global by 3.3% in the fourth quarter. J.W. Cole Advisors Inc. now owns 14,469 shares of the company’s stock worth $988,000 after buying an additional 464 shares in the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Price Performance

Carrier Global stock opened at $67.00 on Friday. The company’s 50 day simple moving average is $67.60 and its 200-day simple moving average is $72.26. The company has a market capitalization of $58.18 billion, a price-to-earnings ratio of 10.67, a price-to-earnings-growth ratio of 1.94 and a beta of 1.35. Carrier Global Co. has a 1 year low of $53.33 and a 1 year high of $83.32. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.96 and a current ratio of 1.25.

Carrier Global (NYSE:CARR) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03. Carrier Global had a net margin of 23.83% and a return on equity of 18.82%. During the same period in the previous year, the company earned $0.53 earnings per share. As a group, equities research analysts expect that Carrier Global Co. will post 2.98 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. Investors of record on Friday, December 20th were issued a $0.225 dividend. The ex-dividend date of this dividend was Friday, December 20th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.34%. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s payout ratio is 14.33%.

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

Analyst Ratings Changes

CARR has been the topic of several research reports. Northcoast Research initiated coverage on shares of Carrier Global in a research note on Friday, November 22nd. They issued a “neutral” rating on the stock. Barclays decreased 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, February 12th. Royal Bank of Canada reduced their target price on shares of Carrier Global from $86.00 to $76.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 12th. Citigroup reduced their target price on shares of Carrier Global from $94.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Finally, Stephens reduced 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. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $82.64.

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.