Summit Trail Advisors LLC Has $1.66 Million Stock Holdings in Carrier Global Co. (NYSE:CARR)

Summit Trail Advisors LLC grew its stake in Carrier Global Co. (NYSE:CARR) by 10.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 24,240 shares of the company’s stock after purchasing an additional 2,321 shares during the quarter. Summit Trail Advisors LLC’s holdings in Carrier Global were worth $1,660,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in CARR. Brookstone Capital Management lifted its stake in shares of Carrier Global by 9.4% in the 3rd quarter. Brookstone Capital Management now owns 5,999 shares of the company’s stock valued at $483,000 after purchasing an additional 513 shares during the period. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in shares of Carrier Global by 359.3% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 6,729 shares of the company’s stock valued at $542,000 after purchasing an additional 5,264 shares during the period. Valeo Financial Advisors LLC lifted its stake in shares of Carrier Global by 1.5% in the 3rd quarter. Valeo Financial Advisors LLC now owns 12,244 shares of the company’s stock valued at $986,000 after purchasing an additional 179 shares during the period. Exchange Traded Concepts LLC lifted its stake in shares of Carrier Global by 69.6% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,187 shares of the company’s stock valued at $96,000 after purchasing an additional 487 shares during the period. Finally, CHICAGO TRUST Co NA lifted its stake in shares of Carrier Global by 11.4% in the 3rd quarter. CHICAGO TRUST Co NA now owns 4,089 shares of the company’s stock valued at $329,000 after purchasing an additional 419 shares during the period. Institutional investors and hedge funds own 91.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Mizuho upped their price objective on shares of Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Northcoast Research assumed coverage on shares of Carrier Global in a research report on Friday, November 22nd. They issued a “neutral” rating for the company. Stephens lowered their price objective on shares of Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a research report on Monday, October 28th. UBS Group upgraded shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price objective for the company in a research report on Wednesday, November 13th. Finally, Royal Bank of Canada lowered their price objective on shares of Carrier Global from $87.00 to $86.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. 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’s stock. According to MarketBeat, Carrier Global presently has a consensus rating of “Moderate Buy” and an average target price of $83.93.

Carrier Global Trading Up 3.4 %

Carrier Global stock opened at $66.35 on Tuesday. The firm has a 50-day moving average of $69.19 and a 200-day moving average of $72.40. Carrier Global Co. has a one year low of $53.13 and a one year high of $83.32. 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 company has a market cap of $59.53 billion, a price-to-earnings ratio of 16.80, a P/E/G ratio of 2.11 and a beta of 1.35.

Carrier Global announced that its Board of Directors has initiated a stock buyback plan on Thursday, October 24th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the company to purchase up to 4.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Carrier Global Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, December 20th were paid 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 yield of 1.36%. The ex-dividend date of this dividend was Friday, December 20th. Carrier Global’s dividend payout ratio (DPR) 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.