Kingswood Wealth Advisors LLC Sells 989 Shares of Carrier Global Co. (NYSE:CARR)

Kingswood Wealth Advisors LLC lowered its stake in shares of Carrier Global Co. (NYSE:CARR) by 8.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,551 shares of the company’s stock after selling 989 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in Carrier Global were worth $720,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. FSA Wealth Management LLC bought a new position in shares of Carrier Global during the 3rd quarter valued at approximately $28,000. McClarren Financial Advisors Inc. lifted its stake in Carrier Global by 246.0% in the third quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock valued at $35,000 after purchasing an additional 310 shares during the last quarter. Coastline Trust Co bought a new position in Carrier Global during the third quarter valued at $37,000. Country Trust Bank purchased a new stake in Carrier Global in the third quarter worth $40,000. Finally, Capital Performance Advisors LLP bought a new stake in shares of Carrier Global in the third quarter valued at $44,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Trading Down 3.7 %

CARR opened at $64.78 on Thursday. The business has a 50 day simple moving average of $71.14 and a two-hundred day simple moving average of $72.57. Carrier Global Co. has a one year low of $53.13 and a one year high of $83.32. The firm has a market capitalization of $58.12 billion, a price-to-earnings ratio of 16.40, 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 Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, December 20th will be given a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 1.39%. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date is Friday, December 20th. Carrier Global’s dividend payout ratio (DPR) is currently 22.78%.

Carrier Global announced that its Board of Directors has approved a stock buyback program on Thursday, October 24th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 4.6% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

CARR has been the subject of several recent research reports. Stephens decreased their price objective on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a report on Monday, October 28th. Mizuho boosted their price target on shares of Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Citigroup cut their price objective on shares of Carrier Global from $94.00 to $90.00 and set a “buy” rating for the company in a report on Monday, January 13th. 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 report on Wednesday, November 13th. Finally, The Goldman Sachs Group initiated coverage on Carrier Global in a report on Thursday, December 12th. They issued a “buy” rating and a $96.00 price target for the company. Eight investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $83.93.

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.