Forsta AP Fonden Reduces Position in Carrier Global Co. (NYSE:CARR)

Forsta AP Fonden decreased its holdings in Carrier Global Co. (NYSE:CARR) by 0.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 171,800 shares of the company’s stock after selling 1,000 shares during the quarter. Forsta AP Fonden’s holdings in Carrier Global were worth $11,727,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. FSA Wealth Management LLC acquired a new stake in shares of Carrier Global during the 3rd quarter valued at approximately $28,000. McClarren Financial Advisors Inc. increased its stake in Carrier Global by 246.0% during 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 stake in Carrier Global during the third quarter valued at $37,000. Country Trust Bank acquired a new stake in shares of Carrier Global during the third quarter worth $40,000. Finally, Capital Performance Advisors LLP bought a new position in shares of Carrier Global in the 3rd quarter worth about $44,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Wall Street Analyst Weigh In

CARR has been the subject of a number of recent research reports. Barclays lowered their price objective on shares of Carrier Global from $92.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. UBS Group raised Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 target price for the company in a report on Wednesday, November 13th. Stephens cut their price target on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating on the stock in a report on Monday, October 28th. Bank of America upped their price objective on Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Finally, Wells Fargo & Company cut their target price on Carrier Global from $80.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. Eight investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Carrier Global has an average rating of “Moderate Buy” and a consensus target price of $83.93.

Carrier Global Trading Up 1.7 %

Shares of NYSE:CARR opened at $65.90 on Friday. Carrier Global Co. has a twelve month low of $53.13 and a twelve month high of $83.32. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69. The firm has a market cap of $59.12 billion, a P/E ratio of 16.68, a P/E/G ratio of 2.26 and a beta of 1.36. The company has a 50 day moving average of $70.95 and a 200-day moving average of $72.51.

Carrier Global Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, December 20th will be paid a dividend of $0.225 per share. 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 yield of 1.37%. The ex-dividend date is Friday, December 20th. Carrier Global’s dividend payout ratio (DPR) is presently 22.78%.

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

About Carrier Global

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.