Clifford Swan Investment Counsel LLC Lowers Stock Holdings in Carrier Global Co. (NYSE:CARR)

Clifford Swan Investment Counsel LLC reduced its position in Carrier Global Co. (NYSE:CARR) by 0.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 91,145 shares of the company’s stock after selling 262 shares during the quarter. Clifford Swan Investment Counsel LLC’s holdings in Carrier Global were worth $6,222,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. US Bancorp DE grew its position in Carrier Global by 1.4% during the third quarter. US Bancorp DE now owns 330,255 shares of the company’s stock valued at $26,582,000 after acquiring an additional 4,456 shares during the last quarter. Focus Financial Network Inc. grew its holdings in shares of Carrier Global by 220.5% during the 3rd quarter. Focus Financial Network Inc. now owns 9,593 shares of the company’s stock valued at $772,000 after purchasing an additional 6,600 shares during the last quarter. Hills Bank & Trust Co purchased a new position in Carrier Global in the 3rd quarter worth $108,000. Farther Finance Advisors LLC lifted its stake in Carrier Global by 4.3% in the third quarter. Farther Finance Advisors LLC now owns 7,198 shares of the company’s stock worth $579,000 after purchasing an additional 294 shares during the last quarter. Finally, Phillips Wealth Planners LLC purchased a new stake in Carrier Global during the third quarter valued at about $277,000. 91.00% of the stock is currently owned by institutional investors.

Carrier Global Price Performance

CARR stock opened at $64.81 on Friday. The firm has a 50-day moving average of $67.15 and a 200 day moving average of $72.38. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.25 and a quick ratio of 0.96. The company has a market cap of $56.00 billion, a P/E ratio of 10.32, a PEG ratio of 2.01 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.

Carrier Global (NYSE:CARR) last announced its earnings results 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 return on equity of 18.82% and a net margin of 23.83%. During the same period last year, the company posted $0.53 earnings per share. On average, sell-side analysts forecast that Carrier Global Co. will post 2.99 EPS for the current year.

Carrier Global Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, December 20th were issued a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date of this dividend was Friday, December 20th. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s payout ratio is 14.33%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Northcoast Research assumed coverage on Carrier Global in a report on Friday, November 22nd. They issued a “neutral” rating on the stock. The Goldman Sachs Group initiated coverage on Carrier Global in a research note on Thursday, December 12th. They issued a “buy” rating and a $96.00 price target on the stock. JPMorgan Chase & Co. dropped their price objective on Carrier Global from $83.00 to $77.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. UBS Group raised shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 target price on the stock in a research note on Wednesday, November 13th. Finally, Mizuho raised shares of Carrier Global from a “neutral” rating to an “outperform” rating and set a $78.00 price target for the company in a research report on Friday, February 14th. Six analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Carrier Global has an average rating of “Moderate Buy” and an average target price of $82.47.

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.