Cypress Capital Management LLC WY Has $83,000 Position in Carrier Global Co. (NYSE:CARR)

Cypress Capital Management LLC WY lessened its holdings in shares of Carrier Global Co. (NYSE:CARR) by 42.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,210 shares of the company’s stock after selling 900 shares during the quarter. Cypress Capital Management LLC WY’s holdings in Carrier Global were worth $83,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in CARR. FSA Wealth Management LLC acquired a new position in shares of Carrier Global during the 3rd quarter valued at about $28,000. McClarren Financial Advisors Inc. boosted its position in Carrier Global by 246.0% during the third quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock worth $35,000 after purchasing an additional 310 shares during the period. Coastline Trust Co acquired a new position in Carrier Global during the third quarter valued at approximately $37,000. Country Trust Bank bought a new position in shares of Carrier Global in the third quarter valued at approximately $40,000. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Carrier Global in the third quarter worth $44,000. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Stephens lowered their target price on shares of Carrier Global from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Monday, October 28th. Northcoast Research began coverage on Carrier Global in a research report on Friday, November 22nd. They issued a “neutral” rating on the stock. JPMorgan Chase & Co. cut their price objective on Carrier Global from $83.00 to $77.00 and set a “neutral” rating for the company in a research report on Wednesday, January 15th. Wells Fargo & Company lowered their target price on 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, Barclays cut their price target on Carrier Global from $92.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Eight 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’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $83.93.

Carrier Global Stock Up 1.7 %

CARR opened at $65.90 on Friday. The company has a market capitalization of $59.12 billion, a P/E ratio of 16.68, a P/E/G ratio of 2.26 and a beta of 1.36. 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’s fifty day moving average price is $70.95 and its two-hundred day moving average price is $72.51. Carrier Global Co. has a fifty-two week low of $53.13 and a fifty-two week high of $83.32.

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

Carrier Global Increases Dividend

The firm also recently announced 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. This is a positive change 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 22.78%.

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.