Curbstone Financial Management Corp Purchases 556 Shares of Carrier Global Co. (NYSE:CARR)

Curbstone Financial Management Corp increased its position in shares of Carrier Global Co. (NYSE:CARR) by 2.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 23,298 shares of the company’s stock after acquiring an additional 556 shares during the period. Curbstone Financial Management Corp’s holdings in Carrier Global were worth $1,590,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CARR. FSA Wealth Management LLC bought a new stake in Carrier Global during the third quarter valued at $28,000. McClarren Financial Advisors Inc. raised its holdings in shares of Carrier Global by 246.0% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock valued at $35,000 after acquiring an additional 310 shares in the last quarter. Coastline Trust Co bought a new stake in shares of Carrier Global during the 3rd quarter valued at about $37,000. Country Trust Bank bought a new stake in shares of Carrier Global during the 3rd quarter valued at about $40,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Carrier Global during the third quarter worth about $44,000. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Carrier Global Stock Down 3.9 %

NYSE CARR opened at $67.36 on Tuesday. The business’s 50-day moving average is $71.28 and its 200 day moving average is $72.56. The stock has a market capitalization of $60.44 billion, a PE ratio of 17.05, a PEG ratio of 2.26 and a beta of 1.36. 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 Co. has a 1 year low of $53.13 and a 1 year high of $83.32.

Carrier Global Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, December 20th will be paid a dividend of $0.225 per share. The ex-dividend date of this dividend is Friday, December 20th. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. This represents a $0.90 annualized dividend and a dividend yield of 1.34%. Carrier Global’s payout ratio is 22.78%.

Carrier Global announced that its board has authorized a stock repurchase plan on Thursday, October 24th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 4.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Stephens dropped their target price on shares of 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 started coverage on shares of Carrier Global in a report on Friday, November 22nd. They set a “neutral” rating for the company. The Goldman Sachs Group started coverage on Carrier Global in a research note on Thursday, December 12th. They issued a “buy” rating and a $96.00 target price on the stock. Barclays dropped their price target on Carrier Global from $92.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Finally, Oppenheimer raised their price objective on Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Eight analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Carrier Global presently has an average rating of “Moderate Buy” and a consensus target price of $83.93.

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.