Carrier Global Co. (NYSE:CARR) Shares Sold by Birch Hill Investment Advisors LLC

Birch Hill Investment Advisors LLC lessened its stake in shares of Carrier Global Co. (NYSE:CARR) by 1.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,128 shares of the company’s stock after selling 400 shares during the quarter. Birch Hill Investment Advisors LLC’s holdings in Carrier Global were worth $1,442,000 at the end of the most recent reporting period.

Several other hedge funds and 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 $28,000. McClarren Financial Advisors Inc. boosted its stake in Carrier Global by 246.0% during the third quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock valued at $35,000 after buying an additional 310 shares in the last quarter. Coastline Trust Co acquired a new position in Carrier Global during the third quarter worth about $37,000. Capital Performance Advisors LLP acquired a new position in Carrier Global during the third quarter worth about $44,000. Finally, Ashton Thomas Securities LLC bought a new stake in Carrier Global in the third quarter worth about $50,000. Institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Down 1.6 %

Shares of Carrier Global stock opened at $64.17 on Friday. Carrier Global Co. has a 1 year low of $53.13 and a 1 year high of $83.32. The company has a market cap of $57.58 billion, a P/E ratio of 16.25, a P/E/G ratio of 2.11 and a beta of 1.35. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69. The stock has a 50-day moving average price of $69.19 and a 200 day moving average price of $72.33.

Carrier Global declared that its board has authorized a stock buyback plan on Thursday, October 24th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 4.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Carrier Global Increases Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Barclays reduced their price objective on shares of Carrier Global from $92.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. JPMorgan Chase & Co. reduced their target price 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. Mizuho upped their price target on Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Wells Fargo & Company reduced their price objective on Carrier Global from $80.00 to $75.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Finally, Robert W. Baird decreased their target price on Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Eight 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. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $83.93.

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.