Ballentine Partners LLC Grows Stock Holdings in Carrier Global Co. (NYSE:CARR)

Ballentine Partners LLC grew its stake in shares of Carrier Global Co. (NYSE:CARR) by 5.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,162 shares of the company’s stock after acquiring an additional 836 shares during the period. Ballentine Partners LLC’s holdings in Carrier Global were worth $1,103,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Pure Financial Advisors LLC increased its position in Carrier Global by 10.1% during the 4th quarter. Pure Financial Advisors LLC now owns 4,652 shares of the company’s stock valued at $318,000 after purchasing an additional 425 shares during the period. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Carrier Global by 21.7% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 5,034 shares of the company’s stock valued at $344,000 after purchasing an additional 899 shares in the last quarter. UMB Bank n.a. increased its holdings in Carrier Global by 1.1% during the fourth quarter. UMB Bank n.a. now owns 13,293 shares of the company’s stock valued at $907,000 after buying an additional 143 shares during the period. Lincoln Capital LLC raised its stake in Carrier Global by 2.5% in the fourth quarter. Lincoln Capital LLC now owns 119,065 shares of the company’s stock worth $8,127,000 after buying an additional 2,921 shares in the last quarter. Finally, Gilman Hill Asset Management LLC lifted its holdings in Carrier Global by 3.0% during the fourth quarter. Gilman Hill Asset Management LLC now owns 52,549 shares of the company’s stock worth $3,587,000 after buying an additional 1,551 shares during the period. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Mizuho boosted their price target on Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. The Goldman Sachs Group assumed coverage on shares of Carrier Global in a report on Thursday, December 12th. They issued a “buy” rating and a $96.00 price target on the stock. Stephens reduced their price objective on shares of Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a research note on Monday, October 28th. JPMorgan Chase & Co. cut their price target on shares of Carrier Global from $83.00 to $77.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. Finally, Barclays reduced their price target on Carrier Global from $92.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Eight equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $83.93.

Carrier Global Trading Down 0.8 %

Carrier Global stock opened at $70.01 on Thursday. Carrier Global Co. has a 52 week low of $53.13 and a 52 week high of $83.32. The stock has a 50-day moving average price of $71.74 and a 200 day moving average price of $72.40. 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 company has a market capitalization of $62.81 billion, a price-to-earnings ratio of 17.72, a price-to-earnings-growth ratio of 2.24 and a beta of 1.36.

Carrier Global Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, December 20th will be paid a $0.225 dividend. 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 1.29%. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s dividend payout ratio is presently 22.78%.

Carrier Global announced that its board has approved a stock 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 repurchase 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 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.