TFG Advisers LLC Raises Position in Carrier Global Co. (NYSE:CARR)

TFG Advisers LLC lifted its holdings in shares of Carrier Global Co. (NYSE:CARR) by 3.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,751 shares of the company’s stock after purchasing an additional 272 shares during the quarter. TFG Advisers LLC’s holdings in Carrier Global were worth $529,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. RFG Advisory LLC grew its holdings in Carrier Global by 36.2% in the 4th quarter. RFG Advisory LLC now owns 7,170 shares of the company’s stock valued at $489,000 after buying an additional 1,904 shares during the period. Princeton Global Asset Management LLC grew its holdings in Carrier Global by 1,156.1% in the fourth quarter. Princeton Global Asset Management LLC now owns 20,663 shares of the company’s stock valued at $1,410,000 after purchasing an additional 19,018 shares during the period. Cerity Partners LLC increased its position 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 last quarter. Daiwa Securities Group Inc. raised its stake in Carrier Global by 12.3% during the third quarter. Daiwa Securities Group Inc. now owns 100,440 shares of the company’s stock worth $8,084,000 after purchasing an additional 11,032 shares during the period. Finally, Miracle Mile Advisors LLC acquired a new position in shares of Carrier Global in the 4th quarter valued at $2,213,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Northcoast Research assumed coverage on Carrier Global in a report on Friday, November 22nd. They set a “neutral” rating for the company. JPMorgan Chase & Co. cut their price objective on Carrier Global from $83.00 to $77.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. UBS Group upgraded Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 target price for the company in a report on Wednesday, November 13th. Mizuho raised their price target on shares of Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Finally, Robert W. Baird decreased their price objective on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Eight investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $83.93.

Carrier Global Stock Performance

NYSE:CARR opened at $64.17 on Friday. The firm has a 50-day moving average of $69.45 and a two-hundred day moving average of $72.35. 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 stock has a market cap of $57.58 billion, a P/E ratio of 16.25, a PEG ratio of 2.12 and a beta of 1.35. Carrier Global Co. has a 1-year low of $53.13 and a 1-year high of $83.32.

Carrier Global Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, December 20th were issued a $0.225 dividend. The ex-dividend date was Friday, December 20th. This represents a $0.90 dividend on an annualized basis and a yield of 1.40%. This is an increase from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s dividend payout ratio is currently 22.78%.

Carrier Global declared that its Board of Directors has initiated a share buyback 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 often an indication that the company’s leadership believes its stock is undervalued.

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.