DAVENPORT & Co LLC Sells 352 Shares of Carrier Global Co. (NYSE:CARR)

DAVENPORT & Co LLC trimmed its holdings in Carrier Global Co. (NYSE:CARR) by 0.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 90,800 shares of the company’s stock after selling 352 shares during the quarter. DAVENPORT & Co LLC’s holdings in Carrier Global were worth $6,198,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. FMR LLC grew its position in shares of Carrier Global by 36.2% during the 3rd quarter. FMR LLC now owns 8,729,073 shares of the company’s stock worth $702,603,000 after buying an additional 2,320,909 shares during the period. Zurich Insurance Group Ltd FI acquired a new position in shares of Carrier Global during the 3rd quarter worth about $130,479,000. Mizuho Securities USA LLC grew its position in shares of Carrier Global by 1,428.4% during the 3rd quarter. Mizuho Securities USA LLC now owns 987,500 shares of the company’s stock worth $79,484,000 after buying an additional 922,892 shares during the period. International Assets Investment Management LLC grew its position in shares of Carrier Global by 8,797.3% during the 3rd quarter. International Assets Investment Management LLC now owns 907,258 shares of the company’s stock worth $730,250,000 after buying an additional 897,061 shares during the period. Finally, State Street Corp grew its position in shares of Carrier Global by 1.4% during the 3rd quarter. State Street Corp now owns 33,665,505 shares of the company’s stock worth $2,709,736,000 after buying an additional 469,108 shares during the period. 91.00% of the stock is owned by institutional investors.

Carrier Global Trading Down 3.6 %

Shares of Carrier Global stock opened at $63.00 on Tuesday. Carrier Global Co. has a 12-month low of $53.13 and a 12-month high of $83.32. The business’s 50 day moving average is $70.51 and its 200-day moving average is $72.50. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69. The stock has a market cap of $56.52 billion, a P/E ratio of 15.95, a P/E/G ratio of 2.12 and a beta of 1.36.

Carrier Global declared that its Board of Directors has approved a share repurchase plan on Thursday, October 24th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 4.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Carrier Global Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, December 20th will be paid a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 1.43%. 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. Carrier Global’s dividend payout ratio is 22.78%.

Analyst Ratings Changes

Several research firms have recently issued reports on CARR. Wells Fargo & Company decreased their target price on Carrier Global from $80.00 to $75.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Royal Bank of Canada decreased their price objective on Carrier Global from $87.00 to $86.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. UBS Group upgraded Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price objective for the company in a research report on Wednesday, November 13th. Barclays decreased their price objective on Carrier Global from $92.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Finally, Robert W. Baird decreased their price objective on Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Eight investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average 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.