AA Financial Advisors LLC Cuts Stock Holdings in Carrier Global Co. (NYSE:CARR)

AA Financial Advisors LLC lessened its position in shares of Carrier Global Co. (NYSE:CARR) by 7.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,747 shares of the company’s stock after selling 453 shares during the quarter. AA Financial Advisors LLC’s holdings in Carrier Global were worth $392,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. State Street Corp grew its stake in shares of Carrier Global by 1.4% in the 3rd quarter. State Street Corp now owns 33,665,505 shares of the company’s stock worth $2,709,736,000 after buying an additional 469,108 shares in the last quarter. Geode Capital Management LLC grew its position in Carrier Global by 1.7% in the third quarter. Geode Capital Management LLC now owns 16,937,689 shares of the company’s stock worth $1,357,961,000 after acquiring an additional 289,439 shares in the last quarter. Fisher Asset Management LLC increased its stake in Carrier Global by 1.9% during the third quarter. Fisher Asset Management LLC now owns 14,267,109 shares of the company’s stock worth $1,148,360,000 after acquiring an additional 269,538 shares during the last quarter. FMR LLC raised its position in Carrier Global by 36.2% during the third quarter. FMR LLC now owns 8,729,073 shares of the company’s stock valued at $702,603,000 after purchasing an additional 2,320,909 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Carrier Global by 1.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,993,169 shares of the company’s stock valued at $482,390,000 after purchasing an additional 110,988 shares during the last quarter. Institutional investors own 91.00% of the company’s stock.

Carrier Global Trading Up 1.7 %

CARR opened at $65.90 on Friday. 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’s fifty day moving average is $70.75 and its two-hundred day moving average is $72.47. The company has a market capitalization of $59.12 billion, a P/E ratio of 16.68, a PEG ratio of 2.10 and a beta of 1.36. Carrier Global Co. has a 52 week low of $53.13 and a 52 week high of $83.32.

Carrier Global Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, December 20th will be issued a $0.225 dividend. This is an increase from Carrier Global’s previous quarterly dividend of $0.19. This represents a $0.90 annualized dividend and a dividend yield of 1.37%. The ex-dividend date of this dividend is Friday, December 20th. Carrier Global’s payout ratio is presently 22.78%.

Carrier Global declared that its Board of Directors has initiated a stock buyback program on Thursday, October 24th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 4.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Robert W. Baird decreased their price target on Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. JPMorgan Chase & Co. reduced 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. Bank of America raised their target price on shares of Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. 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 report on Tuesday, January 7th. Finally, The Goldman Sachs Group assumed coverage on shares of Carrier Global in a research note on Thursday, December 12th. They issued a “buy” rating and a $96.00 price objective for the company. Eight equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $83.93.

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.