Carrier Global Co. (NYSE:CARR) Shares Sold by Court Place Advisors LLC

Court Place Advisors LLC reduced its stake in Carrier Global Co. (NYSE:CARR) by 9.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 5,106 shares of the company’s stock after selling 548 shares during the quarter. Court Place Advisors LLC’s holdings in Carrier Global were worth $349,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Cerity Partners LLC increased its stake in Carrier Global by 39.0% during the third quarter. Cerity Partners LLC now owns 136,821 shares of the company’s stock worth $11,013,000 after purchasing an additional 38,365 shares during the period. Daiwa Securities Group Inc. increased its stake in Carrier Global by 12.3% during the 3rd quarter. Daiwa Securities Group Inc. now owns 100,440 shares of the company’s stock worth $8,084,000 after buying an additional 11,032 shares during the period. Miracle Mile Advisors LLC purchased a new position in Carrier Global in the 4th quarter valued at approximately $2,213,000. Sheaff Brock Investment Advisors LLC acquired a new position in shares of Carrier Global in the third quarter worth $1,068,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Carrier Global during the third quarter worth $793,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the company. Northcoast Research began coverage on Carrier Global in a research note on Friday, November 22nd. They set a “neutral” rating for the company. Citigroup lowered their price objective on Carrier Global from $94.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, January 13th. JPMorgan Chase & Co. cut their target price on shares of Carrier Global from $83.00 to $77.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. Stephens lowered their price target on shares of Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a report on Monday, October 28th. Finally, Oppenheimer increased their price objective on shares of Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Eight equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $83.93.

Carrier Global Stock Down 3.9 %

Carrier Global stock opened at $67.36 on Tuesday. The company has a market capitalization of $60.44 billion, a P/E ratio of 17.05, a PEG ratio of 2.26 and a beta of 1.36. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 1.08. Carrier Global Co. has a fifty-two week low of $53.13 and a fifty-two week high of $83.32. The stock has a 50-day simple moving average of $71.42 and a 200-day simple moving average of $72.55.

Carrier Global declared that its Board of Directors has approved 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 purchase up to 4.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Carrier Global Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Shareholders 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 yield of 1.34%. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s payout ratio is currently 22.78%.

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.