Kanawha Capital Management LLC Buys 1,515 Shares of Carrier Global Co. (NYSE:CARR)

Kanawha Capital Management LLC boosted its holdings in Carrier Global Co. (NYSE:CARR) by 1.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 135,995 shares of the company’s stock after purchasing an additional 1,515 shares during the quarter. Kanawha Capital Management LLC’s holdings in Carrier Global were worth $9,283,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. FSA Wealth Management LLC bought a new stake in Carrier Global in the third quarter worth approximately $28,000. McClarren Financial Advisors Inc. grew its stake in Carrier Global by 246.0% in the third quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock valued at $35,000 after acquiring an additional 310 shares during the period. Coastline Trust Co acquired a new stake in Carrier Global in the third quarter valued at approximately $37,000. Capital Performance Advisors LLP acquired a new stake in Carrier Global in the third quarter valued at approximately $44,000. Finally, Ashton Thomas Securities LLC acquired a new stake in Carrier Global in the third quarter valued at approximately $50,000. 91.00% of the stock is currently owned by institutional investors.

Carrier Global Stock Performance

Shares of CARR opened at $63.70 on Friday. The firm has a market cap of $57.15 billion, a PE ratio of 16.13, a PEG ratio of 2.11 and a beta of 1.35. The stock’s fifty day moving average price is $68.55 and its two-hundred day moving average price is $72.34. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.08 and a quick ratio of 0.82. Carrier Global Co. has a 1 year low of $53.13 and a 1 year high of $83.32.

Carrier Global (NYSE:CARR) last issued its earnings results on Tuesday, February 11th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.03. Carrier Global had a return on equity of 20.52% and a net margin of 14.98%. During the same period last year, the firm earned $0.53 EPS. On average, equities research analysts forecast that Carrier Global Co. will post 2.52 EPS for the current year.

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

Carrier Global Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, December 20th were paid a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.41%. 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 payout ratio is presently 22.78%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CARR. Royal Bank of Canada reduced their price objective on Carrier Global from $86.00 to $76.00 and set an “outperform” rating for the company in a research note on Wednesday. Mizuho raised Carrier Global from a “neutral” rating to an “outperform” rating and set a $78.00 price objective for the company in a research note on Friday. Stephens reduced their price objective on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a research note on Monday, October 28th. The Goldman Sachs Group initiated coverage on Carrier Global in a research report on Thursday, December 12th. They set a “buy” rating and a $96.00 target price on the stock. Finally, Robert W. Baird cut their target price on Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Carrier Global currently has an average rating of “Moderate Buy” and an average price target of $82.64.

About Carrier Global

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.