Venturi Wealth Management LLC Decreases Stock Position in Carrier Global Co. (NYSE:CARR)

Venturi Wealth Management LLC lowered its stake in Carrier Global Co. (NYSE:CARR) by 21.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,818 shares of the company’s stock after selling 2,473 shares during the period. Venturi Wealth Management LLC’s holdings in Carrier Global were worth $602,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of CARR. FSA Wealth Management LLC purchased a new position in shares of Carrier Global in the third quarter worth about $28,000. Coastline Trust Co purchased a new position in Carrier Global during the 3rd quarter valued at about $37,000. Capital Performance Advisors LLP purchased a new position in Carrier Global during the 3rd quarter valued at about $44,000. Roxbury Financial LLC purchased a new position in Carrier Global during the 4th quarter valued at about $49,000. Finally, Ashton Thomas Securities LLC purchased a new position in Carrier Global during the 3rd quarter valued at about $50,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. 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. Royal Bank of Canada reduced their price target on 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 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, February 12th. JPMorgan Chase & Co. reduced their target price on Carrier Global from $83.00 to $77.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. Finally, The Goldman Sachs Group assumed coverage on Carrier Global in a report on Thursday, December 12th. They set a “buy” rating and a $96.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Carrier Global has an average rating of “Moderate Buy” and a consensus price target of $82.64.

Carrier Global Stock Performance

Shares of CARR opened at $66.02 on Thursday. The company has a quick ratio of 0.96, a current ratio of 1.25 and a debt-to-equity ratio of 0.77. The business’s 50 day moving average price is $67.73 and its 200-day moving average price is $72.29. Carrier Global Co. has a 52 week low of $53.13 and a 52 week high of $83.32. The stock has a market cap of $57.33 billion, a P/E ratio of 10.51, a P/E/G ratio of 1.90 and a beta of 1.35.

Carrier Global (NYSE:CARR) last released its quarterly earnings data on Tuesday, February 11th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate 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 in the previous year, the firm posted $0.53 EPS. Equities research analysts anticipate that Carrier Global Co. will post 2.98 earnings per share for the current fiscal year.

Carrier Global Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, December 20th were given a $0.225 dividend. 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. This represents a $0.90 annualized dividend and a yield of 1.36%. Carrier Global’s dividend payout ratio is 14.33%.

Carrier Global declared that its board has initiated a stock repurchase plan on Thursday, October 24th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 4.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is 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.