abrdn plc Decreases Stake in Carrier Global Co. (NYSE:CARR)

abrdn plc decreased its holdings in Carrier Global Co. (NYSE:CARR) by 5.2% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 705,312 shares of the company’s stock after selling 38,382 shares during the period. abrdn plc owned approximately 0.08% of Carrier Global worth $48,159,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FSA Wealth Management LLC purchased a new position in shares of Carrier Global in the 3rd quarter valued at $28,000. McClarren Financial Advisors Inc. lifted its stake in shares of 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 in the last quarter. Coastline Trust Co purchased a new stake in shares of Carrier Global in the third quarter worth about $37,000. Country Trust Bank purchased a new stake in shares of Carrier Global in the third quarter worth about $40,000. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Carrier Global during the 3rd quarter valued at about $44,000. 91.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CARR has been the subject of a number of analyst reports. Northcoast Research started coverage on Carrier Global in a report on Friday, November 22nd. They issued a “neutral” rating for the company. JPMorgan Chase & Co. lowered their price target on shares of Carrier Global from $83.00 to $77.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. Royal Bank of Canada cut their price objective on shares of Carrier Global from $87.00 to $86.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Mizuho raised their target price on Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Finally, Barclays cut their price target on Carrier Global from $92.00 to $90.00 and set an “overweight” rating on the stock in a research note 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 assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $83.93.

Carrier Global Stock Up 1.2 %

Shares of NYSE:CARR opened at $63.91 on Wednesday. The company’s fifty day moving average is $70.19 and its two-hundred day moving average is $72.48. 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 1-year low of $53.13 and a 1-year high of $83.32. The stock has a market capitalization of $57.34 billion, a price-to-earnings ratio of 16.18, a price-to-earnings-growth ratio of 2.12 and a beta of 1.35.

Carrier Global Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, December 20th will be issued 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 1.41%. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s dividend payout ratio (DPR) is currently 22.78%.

Carrier Global announced that its Board of Directors has authorized a share repurchase program on Thursday, October 24th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 4.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management 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.