Carrier Global Co. (NYSE:CARR) Position Increased by Caprock Group LLC

Caprock Group LLC increased its stake in shares of Carrier Global Co. (NYSE:CARR) by 23.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,974 shares of the company’s stock after buying an additional 5,018 shares during the quarter. Caprock Group LLC’s holdings in Carrier Global were worth $1,779,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in CARR. Truist Financial Corp grew its position in Carrier Global by 1.8% in the 2nd quarter. Truist Financial Corp now owns 135,742 shares of the company’s stock worth $8,563,000 after purchasing an additional 2,432 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Carrier Global during the second quarter worth approximately $4,244,000. Centaurus Financial Inc. bought a new position in Carrier Global in the 2nd quarter worth approximately $436,000. Czech National Bank increased its position in Carrier Global by 7.1% in the 3rd quarter. Czech National Bank now owns 171,027 shares of the company’s stock valued at $13,766,000 after acquiring an additional 11,350 shares during the period. Finally, GAMMA Investing LLC raised its stake in Carrier Global by 28.9% during the 3rd quarter. GAMMA Investing LLC now owns 14,456 shares of the company’s stock valued at $1,164,000 after acquiring an additional 3,244 shares in the last quarter. 91.00% of the stock is owned by institutional investors and hedge funds.

Carrier Global Trading Down 1.0 %

NYSE:CARR opened at $65.29 on Monday. The stock has a fifty day simple moving average of $70.51 and a 200 day simple moving average of $72.47. The firm has a market capitalization of $58.58 billion, a price-to-earnings ratio of 16.53, a price-to-earnings-growth ratio of 2.10 and a beta of 1.36. Carrier Global Co. has a 1-year low of $53.13 and a 1-year high of $83.32. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69.

Carrier Global announced that its Board of Directors has approved 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 often an indication that the company’s board believes its shares are undervalued.

Carrier Global Increases Dividend

The company 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 is an increase from Carrier Global’s previous quarterly dividend of $0.19. This represents a $0.90 annualized dividend and a dividend yield of 1.38%. The ex-dividend date is Friday, December 20th. Carrier Global’s dividend payout ratio (DPR) is 22.78%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CARR shares. Barclays decreased 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. The Goldman Sachs Group started coverage on shares of Carrier Global in a research note on Thursday, December 12th. They set a “buy” rating and a $96.00 target price on the stock. Wells Fargo & Company reduced their price target on shares of Carrier Global from $80.00 to $75.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Stephens lowered their price objective 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. Finally, JPMorgan Chase & Co. cut their target price on Carrier Global from $83.00 to $77.00 and set a “neutral” rating for the company in a research report on Wednesday, January 15th. Eight research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $83.93.

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.