Leavell Investment Management Inc. Boosts Holdings in Carrier Global Co. (NYSE:CARR)

Leavell Investment Management Inc. increased its holdings in Carrier Global Co. (NYSE:CARR) by 17.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,927 shares of the company’s stock after buying an additional 895 shares during the quarter. Leavell Investment Management Inc.’s holdings in Carrier Global were worth $406,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Summit Trail Advisors LLC raised its stake in Carrier Global by 10.6% during the 4th quarter. Summit Trail Advisors LLC now owns 24,240 shares of the company’s stock worth $1,660,000 after acquiring an additional 2,321 shares during the period. Soltis Investment Advisors LLC raised its stake in Carrier Global by 1.8% during the 4th quarter. Soltis Investment Advisors LLC now owns 12,962 shares of the company’s stock worth $885,000 after acquiring an additional 232 shares during the period. Wingate Wealth Advisors Inc. bought a new stake in Carrier Global during the 4th quarter worth approximately $255,000. Angeles Wealth Management LLC raised its stake in Carrier Global by 10.6% during the 4th quarter. Angeles Wealth Management LLC now owns 4,375 shares of the company’s stock worth $299,000 after acquiring an additional 418 shares during the period. Finally, Liberty Capital Management Inc. raised its stake in Carrier Global by 4.0% during the 4th quarter. Liberty Capital Management Inc. now owns 29,010 shares of the company’s stock worth $1,980,000 after acquiring an additional 1,118 shares during the period. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Up 0.2 %

NYSE CARR opened at $63.70 on Friday. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69. The company has a fifty day moving average of $68.55 and a two-hundred day moving average of $72.34. The firm has a market capitalization of $57.15 billion, a price-to-earnings ratio of 16.13, a PEG ratio of 2.11 and a beta of 1.35. Carrier Global Co. has a 52 week low of $53.13 and a 52 week 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 analysts’ consensus estimates of $0.51 by $0.03. Carrier Global had a net margin of 14.98% and a return on equity of 20.52%. During the same quarter last year, the company earned $0.53 earnings per share. On average, analysts predict that Carrier Global Co. will post 2.52 earnings per share for the current year.

Carrier Global announced that its board has approved a stock buyback plan on Thursday, October 24th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the company to purchase up to 4.6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

Carrier Global Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, December 20th were issued a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 1.41%. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Friday, December 20th. Carrier Global’s dividend payout ratio is presently 22.78%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Northcoast Research assumed coverage on shares of Carrier Global in a research note on Friday, November 22nd. They set a “neutral” rating on the stock. Mizuho lifted 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. JPMorgan Chase & Co. reduced their price objective on shares of Carrier Global from $83.00 to $77.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. Robert W. Baird reduced their price objective on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Finally, Stephens reduced their price objective on shares of Carrier Global from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Monday, October 28th. Eight equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $82.64.

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.