International Assets Investment Management LLC Has $633,000 Stake in Carrier Global Co. (NYSE:CARR)

International Assets Investment Management LLC cut its position in Carrier Global Co. (NYSE:CARR) by 99.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,257 shares of the company’s stock after selling 898,001 shares during the quarter. International Assets Investment Management LLC’s holdings in Carrier Global were worth $633,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in CARR. Acadian Asset Management LLC bought a new stake in Carrier Global during the second quarter worth $903,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Carrier Global during the 2nd quarter worth $169,000. American Century Companies Inc. lifted its position in shares of Carrier Global by 57.7% during the 2nd quarter. American Century Companies Inc. now owns 94,266 shares of the company’s stock worth $5,946,000 after buying an additional 34,487 shares during the last quarter. Qsemble Capital Management LP acquired a new stake in Carrier Global in the second quarter valued at about $999,000. Finally, Johnson Investment Counsel Inc. grew its position in Carrier Global by 0.8% in the second quarter. Johnson Investment Counsel Inc. now owns 26,608 shares of the company’s stock valued at $1,678,000 after acquiring an additional 221 shares during the last quarter. Institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Performance

Shares of CARR stock opened at $66.56 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.08 and a quick ratio of 0.82. Carrier Global Co. has a one year low of $53.13 and a one year high of $83.32. The business’s 50 day simple moving average is $72.55 and its 200 day simple moving average is $71.98. The stock has a market capitalization of $59.72 billion, a PE ratio of 16.85, a PEG ratio of 2.73 and a beta of 1.36.

Carrier Global Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, December 20th will be given a dividend of $0.225 per share. The ex-dividend date 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 dividend yield of 1.35%. Carrier Global’s dividend payout ratio is 22.78%.

Carrier Global declared that its board has initiated a stock 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 buy up to 4.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CARR. Northcoast Research assumed coverage on shares of Carrier Global in a report on Friday, November 22nd. They issued a “neutral” rating for the company. Wells Fargo & Company cut their target price 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. Royal Bank of Canada decreased their target price on shares of Carrier Global from $87.00 to $86.00 and set an “outperform” rating on the stock in a research note on Friday, January 3rd. JPMorgan Chase & Co. started coverage on Carrier Global in a research note on Thursday, October 10th. They issued a “neutral” rating and a $83.00 price target for the company. Finally, Barclays lowered their target price on Carrier Global from $92.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday. Eight 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. According to MarketBeat.com, Carrier Global has an average rating of “Moderate Buy” and a consensus price target of $83.21.

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.