Wealth Enhancement Advisory Services LLC Purchases 2,097 Shares of Carrier Global Co. (NYSE:CARR)

Wealth Enhancement Advisory Services LLC lifted its position in shares of Carrier Global Co. (NYSE:CARR) by 0.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 477,457 shares of the company’s stock after purchasing an additional 2,097 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Carrier Global were worth $32,591,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Frank Rimerman Advisors LLC grew its position in shares of Carrier Global by 54,708.0% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 13,702 shares of the company’s stock valued at $864,000 after buying an additional 13,677 shares during the last quarter. Cerity Partners LLC lifted its stake in shares of Carrier Global by 39.0% in the third quarter. Cerity Partners LLC now owns 136,821 shares of the company’s stock worth $11,013,000 after acquiring an additional 38,365 shares during the period. Daiwa Securities Group Inc. boosted its holdings in Carrier Global by 12.3% in the third quarter. Daiwa Securities Group Inc. now owns 100,440 shares of the company’s stock valued at $8,084,000 after acquiring an additional 11,032 shares during the last quarter. Sheaff Brock Investment Advisors LLC acquired a new stake in Carrier Global during the 3rd quarter valued at approximately $1,068,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in Carrier Global during the 3rd quarter worth approximately $793,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CARR shares. Robert W. Baird decreased their price objective on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Oppenheimer increased their price target on Carrier Global from $74.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Barclays dropped their price objective on Carrier Global from $92.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday. The Goldman Sachs Group began coverage on Carrier Global in a research note on Thursday, December 12th. They set a “buy” rating and a $96.00 target price for the company. Finally, Wells Fargo & Company dropped their price target on Carrier Global from $80.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. Eight 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, Carrier Global has a consensus rating of “Moderate Buy” and an average price target of $83.21.

Carrier Global Trading Down 2.8 %

NYSE:CARR 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. The firm has a 50-day moving average of $72.55 and a 200-day moving average of $72.04. The company has a market cap of $59.72 billion, a PE ratio of 16.85, a PEG ratio of 2.73 and a beta of 1.36. Carrier Global Co. has a one year low of $53.13 and a one year high of $83.32.

Carrier Global Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, December 20th will be issued a dividend of $0.225 per share. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. This represents a $0.90 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date of this dividend is Friday, December 20th. Carrier Global’s payout ratio is currently 22.78%.

Carrier Global announced that its Board of Directors has initiated a stock buyback program on Thursday, October 24th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 4.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

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.