Diversified Trust Co Has $1.14 Million Stake in Carrier Global Co. (NYSE:CARR)

Diversified Trust Co reduced its holdings in Carrier Global Co. (NYSE:CARR) by 6.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 16,649 shares of the company’s stock after selling 1,138 shares during the quarter. Diversified Trust Co’s holdings in Carrier Global were worth $1,136,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. FSA Wealth Management LLC bought a new stake in shares of Carrier Global during the 3rd quarter valued at $28,000. McClarren Financial Advisors Inc. grew its stake in shares of Carrier Global by 246.0% during the third quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock worth $35,000 after purchasing an additional 310 shares during the period. Coastline Trust Co bought a new stake in Carrier Global in the third quarter valued at about $37,000. Meeder Asset Management Inc. lifted its stake in Carrier Global by 675.0% in the second quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock valued at $29,000 after buying an additional 405 shares during the period. Finally, Country Trust Bank bought a new position in Carrier Global during the third quarter worth about $40,000. 91.00% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on CARR. Wells Fargo & Company cut their price target on shares of Carrier Global from $80.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Stephens cut their target price on shares of Carrier Global from $85.00 to $80.00 and set an “equal weight” rating on the stock in a report on Monday, October 28th. The Goldman Sachs Group initiated coverage on shares of Carrier Global in a report on Thursday, December 12th. They issued a “buy” rating and a $96.00 price target for the company. Bank of America raised 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, 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. Eight research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $83.21.

Carrier Global Price Performance

Shares of CARR opened at $68.34 on Thursday. The company has a 50 day moving average of $72.76 and a 200-day moving average of $71.99. 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 capitalization 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. Carrier Global Co. has a twelve month low of $53.13 and a twelve month high of $83.32.

Carrier Global announced that its board has initiated a share repurchase plan on Thursday, October 24th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 4.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Carrier Global Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, December 20th will be given a dividend of $0.225 per share. 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. This represents a $0.90 annualized dividend and a yield of 1.32%. Carrier Global’s payout ratio is 22.78%.

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.