Carrier Global Co. (NYSE:CARR) Shares Bought by Versant Capital Management Inc

Versant Capital Management Inc lifted its holdings in shares of Carrier Global Co. (NYSE:CARR) by 141.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,181 shares of the company’s stock after acquiring an additional 692 shares during the period. Versant Capital Management Inc’s holdings in Carrier Global were worth $81,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. FSM Wealth Advisors LLC boosted its position in Carrier Global by 2.2% during the 3rd quarter. FSM Wealth Advisors LLC now owns 6,373 shares of the company’s stock worth $513,000 after acquiring an additional 136 shares during the period. Meridian Wealth Management LLC lifted its holdings in Carrier Global by 2.3% in the third quarter. Meridian Wealth Management LLC now owns 6,030 shares of the company’s stock worth $485,000 after purchasing an additional 137 shares during the period. Essex Savings Bank grew its position in Carrier Global by 2.2% in the 3rd quarter. Essex Savings Bank now owns 6,608 shares of the company’s stock valued at $532,000 after buying an additional 144 shares in the last quarter. Boston Financial Mangement LLC increased its stake in Carrier Global by 1.7% during the 3rd quarter. Boston Financial Mangement LLC now owns 9,208 shares of the company’s stock valued at $741,000 after buying an additional 150 shares during the period. Finally, Sittner & Nelson LLC raised its position in shares of Carrier Global by 4.9% during the 3rd quarter. Sittner & Nelson LLC now owns 3,187 shares of the company’s stock worth $257,000 after buying an additional 150 shares in the last quarter. 91.00% of the stock is owned by institutional investors.

Carrier Global Price Performance

CARR opened at $69.26 on Friday. The firm has a market capitalization of $62.14 billion, a P/E ratio of 17.53, a PEG ratio of 2.73 and a beta of 1.33. The stock has a fifty day moving average of $73.14 and a 200-day moving average of $71.91. 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 Co. has a 12-month low of $53.13 and a 12-month high of $83.32.

Carrier Global Increases Dividend

The firm also recently disclosed 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 is an increase from Carrier Global’s previous quarterly dividend of $0.19. This represents a $0.90 annualized dividend and a yield of 1.30%. The ex-dividend date of this dividend is Friday, December 20th. Carrier Global’s dividend payout ratio is currently 22.78%.

Carrier Global declared that its Board of Directors has authorized a share repurchase plan on Thursday, October 24th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 4.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

CARR has been the subject of several recent analyst reports. Mizuho raised their price objective on shares of Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. The Goldman Sachs Group initiated coverage on Carrier Global in a research note on Thursday, December 12th. They issued a “buy” rating and a $96.00 price objective on the stock. Robert W. Baird decreased their target price on Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. JPMorgan Chase & Co. assumed coverage on shares of Carrier Global in a research report on Thursday, October 10th. They issued a “neutral” rating and a $83.00 price target on the stock. Finally, Royal Bank of Canada reduced their price objective on shares of Carrier Global from $87.00 to $86.00 and set an “outperform” rating for the company in a research report on Friday. Eight equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $83.43.

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.