SVB Wealth LLC Invests $892,000 in Carrier Global Co. (NYSE:CARR)

SVB Wealth LLC acquired a new position in Carrier Global Co. (NYSE:CARR) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 13,062 shares of the company’s stock, valued at approximately $892,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. RFG Advisory LLC grew its position in Carrier Global by 36.2% in the 4th 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 grew its position in Carrier Global by 1,156.1% during 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 in the last quarter. Daiwa Securities Group Inc. increased its stake in Carrier Global by 12.3% during the third 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 period. Cerity Partners LLC raised its holdings in Carrier Global by 39.0% in 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 in the last quarter. Finally, Miracle Mile Advisors LLC bought a new stake in shares of Carrier Global in the 4th quarter worth approximately $2,213,000. Institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Down 2.6 %

NYSE CARR opened at $63.11 on Tuesday. The stock’s 50 day simple moving average is $67.04 and its 200 day simple moving average is $72.39. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.25 and a quick ratio of 0.96. Carrier Global Co. has a one year low of $53.33 and a one year high of $83.32. The firm has a market cap of $54.53 billion, a PE ratio of 10.05, a price-to-earnings-growth ratio of 2.01 and a beta of 1.35.

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 18.82% and a net margin of 23.83%. During the same period last year, the firm earned $0.53 earnings per share. As a group, sell-side analysts forecast that Carrier Global Co. will post 2.99 earnings per share for the current fiscal year.

Carrier Global Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, December 20th were paid a $0.225 dividend. The ex-dividend date was Friday, December 20th. This is an increase from Carrier Global’s previous quarterly dividend of $0.19. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.43%. Carrier Global’s payout ratio is currently 14.33%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Northcoast Research began coverage on Carrier Global in a research report on Friday, November 22nd. They set a “neutral” rating on the stock. Royal Bank of Canada lowered their price target on shares of Carrier Global from $86.00 to $76.00 and set an “outperform” rating on the stock in a report on Wednesday, February 12th. Wells Fargo & Company dropped their price objective on shares of Carrier Global from $75.00 to $70.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 12th. Mizuho upgraded shares of Carrier Global from a “neutral” rating to an “outperform” rating and set a $78.00 target price on the stock in a research report on Friday, February 14th. Finally, UBS Group raised shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price target for the company in a research report on Wednesday, November 13th. Six analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $82.47.

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.