Carrier Global Co. (NYSE:CARR) Stake Boosted by Valmark Advisers Inc.

Valmark Advisers Inc. increased its position in shares of Carrier Global Co. (NYSE:CARR) by 22.5% in the 4th quarter, Holdings Channel.com reports. The fund owned 4,774 shares of the company’s stock after buying an additional 876 shares during the quarter. Valmark Advisers Inc.’s holdings in Carrier Global were worth $326,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CARR. Allworth Financial LP lifted its holdings in shares of Carrier Global by 1,657.6% during the 4th quarter. Allworth Financial LP now owns 167,653 shares of the company’s stock valued at $11,741,000 after buying an additional 158,114 shares during the last quarter. Principal Securities Inc. raised its position in Carrier Global by 128.6% during the fourth quarter. Principal Securities Inc. now owns 16,919 shares of the company’s stock valued at $1,155,000 after acquiring an additional 9,518 shares in the last quarter. Quantum Private Wealth LLC lifted its stake in Carrier Global by 1.1% in the fourth quarter. Quantum Private Wealth LLC now owns 23,271 shares of the company’s stock valued at $1,588,000 after acquiring an additional 252 shares during the last quarter. Little House Capital LLC grew its position in Carrier Global by 2.3% in the fourth quarter. Little House Capital LLC now owns 11,752 shares of the company’s stock worth $802,000 after acquiring an additional 264 shares in the last quarter. Finally, TigerOak Management L.L.C. acquired a new position in shares of Carrier Global during the 4th quarter worth $286,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on CARR. Robert W. Baird reduced their price objective on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Northcoast Research started coverage on Carrier Global in a research report on Friday, November 22nd. They issued a “neutral” rating for the company. Mizuho raised Carrier Global from a “neutral” rating to an “outperform” rating and set a $78.00 price objective on the stock in a report on Friday, February 14th. JPMorgan Chase & Co. reduced their target price on Carrier Global from $83.00 to $77.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. Finally, 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 report on Wednesday, November 13th. Seven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.64.

Carrier Global Price Performance

NYSE:CARR opened at $66.55 on Wednesday. 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 cap of $59.71 billion, a P/E ratio of 16.85, a PEG ratio of 2.11 and a beta of 1.35. The company has a fifty day moving average price of $67.89 and a 200 day moving average price of $72.34. Carrier Global Co. has a one year low of $53.13 and a one year high of $83.32.

Carrier Global (NYSE:CARR) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $0.54 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. Analysts anticipate that Carrier Global Co. will post 2.52 earnings per share for the current year.

Carrier Global Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, December 20th were issued a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 1.35%. The ex-dividend date of this dividend was Friday, December 20th. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s dividend payout ratio (DPR) is presently 22.78%.

Carrier Global declared that its Board of Directors has approved a stock repurchase program 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 shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

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.