Quantum Private Wealth LLC Acquires 252 Shares of Carrier Global Co. (NYSE:CARR)

Quantum Private Wealth LLC lifted its holdings in Carrier Global Co. (NYSE:CARR) by 1.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 23,271 shares of the company’s stock after acquiring an additional 252 shares during the quarter. Quantum Private Wealth LLC’s holdings in Carrier Global were worth $1,588,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. RFG Advisory LLC lifted its stake in Carrier Global by 36.2% in the fourth quarter. RFG Advisory LLC now owns 7,170 shares of the company’s stock worth $489,000 after purchasing an additional 1,904 shares during the last quarter. Princeton Global Asset Management LLC increased its holdings in shares of Carrier Global by 1,156.1% in the fourth quarter. Princeton Global Asset Management LLC now owns 20,663 shares of the company’s stock worth $1,410,000 after buying an additional 19,018 shares during the period. Daiwa Securities Group Inc. lifted its stake in shares of Carrier Global by 12.3% in the 3rd quarter. Daiwa Securities Group Inc. now owns 100,440 shares of the company’s stock valued at $8,084,000 after acquiring an additional 11,032 shares during the last quarter. Cerity Partners LLC boosted its holdings in Carrier Global by 39.0% during the 3rd quarter. Cerity Partners LLC now owns 136,821 shares of the company’s stock valued at $11,013,000 after acquiring an additional 38,365 shares during the period. Finally, Miracle Mile Advisors LLC bought a new position in Carrier Global during the 4th quarter worth approximately $2,213,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Trading Up 2.4 %

CARR opened at $65.19 on Friday. The stock has a market cap of $56.61 billion, a PE ratio of 16.50, a PEG ratio of 2.11 and a beta of 1.35. The business has a 50 day moving average of $68.17 and a 200-day moving average of $72.30. Carrier Global Co. has a 52 week low of $53.13 and a 52 week high of $83.32. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69.

Carrier Global (NYSE:CARR) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $0.54 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 quarter last year, the company earned $0.53 earnings per share. Equities research analysts predict that Carrier Global Co. will post 2.52 earnings per share for the current fiscal year.

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

Carrier Global Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, December 20th were issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend was Friday, December 20th. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s dividend payout ratio is 14.33%.

Wall Street Analyst Weigh In

CARR has been the subject of several recent research reports. Barclays lowered their price objective on Carrier Global from $90.00 to $87.00 and set an “overweight” rating for the company in a research report on Wednesday. Citigroup dropped their price target on shares of Carrier Global from $94.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, January 13th. UBS Group upgraded shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price objective on the stock in a research report on Wednesday, November 13th. Robert W. Baird dropped their target price on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Finally, Wells Fargo & Company reduced their price target on Carrier Global from $75.00 to $70.00 and set an “equal weight” rating on the stock in a report on Wednesday. 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. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.64.

Carrier Global Company 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.