M. Kraus & Co Sells 1,733 Shares of Carrier Global Co. (NYSE:CARR)

M. Kraus & Co reduced its position in Carrier Global Co. (NYSE:CARR) by 1.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 148,204 shares of the company’s stock after selling 1,733 shares during the period. Carrier Global accounts for approximately 3.0% of M. Kraus & Co’s investment portfolio, making the stock its 10th largest holding. M. Kraus & Co’s holdings in Carrier Global were worth $10,116,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. FSA Wealth Management LLC acquired a new position in Carrier Global in the third quarter valued at approximately $28,000. McClarren Financial Advisors Inc. lifted its stake in shares of Carrier Global by 246.0% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock valued at $35,000 after purchasing an additional 310 shares during the period. Coastline Trust Co bought a new position in shares of Carrier Global in the 3rd quarter worth $37,000. Country Trust Bank acquired a new stake in shares of Carrier Global during the third quarter worth $40,000. Finally, Capital Performance Advisors LLP bought a new stake in Carrier Global in the third quarter valued at about $44,000. 91.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Robert W. Baird reduced their target price on Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Royal Bank of Canada decreased their price objective on shares of Carrier Global from $87.00 to $86.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Stephens cut their target price on shares of Carrier Global from $85.00 to $80.00 and set an “equal weight” rating on the stock in a report on Monday, October 28th. Northcoast Research assumed coverage on shares of Carrier Global in a report on Friday, November 22nd. They issued a “neutral” rating for the company. Finally, Wells Fargo & Company reduced their target price on Carrier Global from $80.00 to $75.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Eight equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Carrier Global presently has an average rating of “Moderate Buy” and an average target price of $84.36.

Carrier Global Stock Up 1.9 %

Shares of CARR stock opened at $68.36 on Wednesday. The firm’s fifty day moving average price is $72.34 and its two-hundred day moving average price is $72.17. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69. Carrier Global Co. has a 1 year low of $53.13 and a 1 year high of $83.32. The firm has a market capitalization of $61.33 billion, a P/E ratio of 17.31, a PEG ratio of 2.73 and a beta of 1.36.

Carrier Global declared that its board has authorized a stock buyback program on Thursday, October 24th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 4.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

Carrier Global Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, December 20th will be given a $0.225 dividend. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.32%. This is an increase from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s payout ratio is currently 22.78%.

About Carrier Global

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.