Carrier Global Co. (NYSE:CARR) Shares Purchased by Segment Wealth Management LLC

Segment Wealth Management LLC raised its position in Carrier Global Co. (NYSE:CARR) by 0.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 184,021 shares of the company’s stock after purchasing an additional 365 shares during the period. Segment Wealth Management LLC’s holdings in Carrier Global were worth $12,561,000 as of its most recent filing with the Securities and Exchange Commission.

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

Carrier Global Stock Performance

Shares of CARR stock opened at $69.74 on Tuesday. Carrier Global Co. has a fifty-two week low of $53.13 and a fifty-two 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. The business has a fifty day simple moving average of $71.96 and a 200-day simple moving average of $72.31. The stock has a market cap of $62.57 billion, a P/E ratio of 17.66, a P/E/G ratio of 2.24 and a beta of 1.36.

Carrier Global declared that its Board of Directors has authorized a share buyback program 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 shares through open market purchases. Shares buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Carrier Global Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, December 20th will be given a dividend of $0.225 per share. The ex-dividend date is Friday, December 20th. This represents a $0.90 dividend on an annualized basis and a yield of 1.29%. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s payout ratio is presently 22.78%.

Analyst Ratings Changes

CARR has been the subject of a number of research reports. Barclays reduced their price target on shares of Carrier Global from $92.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Northcoast Research started coverage on Carrier Global in a report on Friday, November 22nd. They issued a “neutral” rating for the company. 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. Mizuho raised their price objective on shares of Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Finally, UBS Group raised 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. Eight investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.93.

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.