Vontobel Holding Ltd. Sells 42,180 Shares of Carrier Global Co. (NYSE:CARR)

Vontobel Holding Ltd. lessened its stake in shares of Carrier Global Co. (NYSE:CARR) by 5.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 683,675 shares of the company’s stock after selling 42,180 shares during the quarter. Vontobel Holding Ltd. owned about 0.08% of Carrier Global worth $46,668,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the stock. FMR LLC increased its stake in shares of Carrier Global by 36.2% in the third quarter. FMR LLC now owns 8,729,073 shares of the company’s stock worth $702,603,000 after purchasing an additional 2,320,909 shares during the period. Zurich Insurance Group Ltd FI acquired a new stake in Carrier Global in the 3rd quarter valued at approximately $130,479,000. Mizuho Securities USA LLC increased its position in Carrier Global by 1,428.4% in the 3rd quarter. Mizuho Securities USA LLC now owns 987,500 shares of the company’s stock worth $79,484,000 after buying an additional 922,892 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of Carrier Global by 8,797.3% during the third quarter. International Assets Investment Management LLC now owns 907,258 shares of the company’s stock worth $730,250,000 after buying an additional 897,061 shares during the last quarter. Finally, State Street Corp boosted its position in shares of Carrier Global by 1.4% in the third quarter. State Street Corp now owns 33,665,505 shares of the company’s stock valued at $2,709,736,000 after acquiring an additional 469,108 shares during the period. Institutional investors own 91.00% of the company’s stock.

Carrier Global Trading Up 0.2 %

CARR stock opened at $63.70 on Friday. 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 capitalization of $57.15 billion, a price-to-earnings ratio of 16.13, a P/E/G ratio of 2.11 and a beta of 1.35. The business has a fifty day moving average price of $68.55 and a 200 day moving average price of $72.34. Carrier Global Co. has a fifty-two week low of $53.13 and a fifty-two week high of $83.32.

Carrier Global (NYSE:CARR) last announced its earnings results on Tuesday, February 11th. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates 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 earnings per share. Analysts expect that Carrier Global Co. will post 2.52 EPS for the current fiscal year.

Carrier Global announced that its Board of Directors has authorized a share repurchase plan on Thursday, October 24th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the company to buy up to 4.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Carrier Global Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, December 20th were given 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 dividend payout ratio is presently 22.78%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Stephens decreased their price target 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. UBS Group upgraded Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price target on the stock in a research note on Wednesday, November 13th. Northcoast Research began coverage on Carrier Global in a report on Friday, November 22nd. They issued a “neutral” rating for the company. Royal Bank of Canada decreased their price objective on Carrier Global from $86.00 to $76.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, Citigroup cut their target price on Carrier Global from $94.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Eight investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Carrier Global currently has a consensus rating of “Moderate Buy” and an average target price 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.