Carrier Global Co. (NYSE:CARR) Shares Sold by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC cut its holdings in shares of Carrier Global Co. (NYSE:CARR) by 17.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,453 shares of the company’s stock after selling 938 shares during the quarter. Douglas Lane & Associates LLC’s holdings in Carrier Global were worth $304,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CARR. CWA Asset Management Group LLC raised its stake in shares of Carrier Global by 24.0% in the fourth quarter. CWA Asset Management Group LLC now owns 4,185 shares of the company’s stock valued at $286,000 after acquiring an additional 811 shares in the last quarter. Nordea Investment Management AB raised its position in Carrier Global by 10.3% in the 4th quarter. Nordea Investment Management AB now owns 67,949 shares of the company’s stock valued at $4,656,000 after purchasing an additional 6,365 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Carrier Global by 2.5% in the 4th quarter. GAMMA Investing LLC now owns 14,820 shares of the company’s stock valued at $1,012,000 after buying an additional 364 shares during the period. Versant Capital Management Inc grew its position in shares of Carrier Global by 141.5% during the fourth quarter. Versant Capital Management Inc now owns 1,181 shares of the company’s stock worth $81,000 after buying an additional 692 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of Carrier Global by 0.8% during the third quarter. Principal Financial Group Inc. now owns 2,561,877 shares of the company’s stock worth $206,206,000 after buying an additional 20,500 shares during the period. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Up 0.2 %

Shares of NYSE:CARR opened at $68.34 on Thursday. Carrier Global Co. has a 1-year low of $53.13 and a 1-year high of $83.32. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.08 and a quick ratio of 0.82. The stock has a market cap of $61.32 billion, a P/E ratio of 17.30, a P/E/G ratio of 2.73 and a beta of 1.36. The firm has a fifty day moving average price of $72.76 and a 200 day moving average price of $71.99.

Carrier Global announced that its board has approved a stock buyback plan on Thursday, October 24th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the company to purchase up to 4.6% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Carrier Global Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, December 20th will be issued a dividend of $0.225 per share. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.32%. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s dividend payout ratio (DPR) is currently 22.78%.

Analysts Set New Price Targets

CARR has been the subject of a number of recent research reports. Barclays decreased their price target on shares of Carrier Global from $92.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday. Northcoast Research began coverage on shares of Carrier Global in a research report on Friday, November 22nd. They set a “neutral” rating for the company. Oppenheimer increased their target price on Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Bank of America lifted their price target on Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Finally, Stephens dropped their price objective 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. Eight investment 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’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $83.21.

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.