Lakewood Asset Management LLC Sells 1,342 Shares of Carrier Global Co. (NYSE:CARR)

Lakewood Asset Management LLC decreased its holdings in Carrier Global Co. (NYSE:CARR) by 5.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,878 shares of the company’s stock after selling 1,342 shares during the quarter. Carrier Global makes up 1.1% of Lakewood Asset Management LLC’s investment portfolio, making the stock its 25th biggest holding. Lakewood Asset Management LLC’s holdings in Carrier Global were worth $1,562,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Frank Rimerman Advisors LLC boosted its stake in shares of Carrier Global by 54,708.0% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 13,702 shares of the company’s stock worth $864,000 after buying an additional 13,677 shares during the last quarter. Cerity Partners LLC raised its holdings in Carrier Global by 39.0% during 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 during the period. Daiwa Securities Group Inc. grew its position in shares of Carrier Global by 12.3% during the 3rd quarter. Daiwa Securities Group Inc. now owns 100,440 shares of the company’s stock valued at $8,084,000 after purchasing an additional 11,032 shares in the last quarter. Sheaff Brock Investment Advisors LLC purchased a new position in shares of Carrier Global during the 3rd quarter valued at $1,068,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Carrier Global in the third quarter worth $793,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Trading Up 0.8 %

Shares of CARR opened at $68.93 on Thursday. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $61.85 billion, a P/E ratio of 17.45, a P/E/G ratio of 2.03 and a beta of 1.36. The firm has a 50-day moving average price of $72.34 and a 200 day moving average price of $72.17. Carrier Global Co. has a 12-month low of $53.13 and a 12-month high of $83.32.

Carrier Global Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, December 20th will be issued a $0.225 dividend. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date is Friday, December 20th. This represents a $0.90 annualized dividend and a yield of 1.31%. Carrier Global’s dividend payout ratio (DPR) is 22.78%.

Carrier Global declared that its Board of Directors has approved a share 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 purchase up to 4.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

CARR has been the subject of several analyst reports. UBS Group upgraded 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. Oppenheimer increased their price target on shares of Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Mizuho increased their price target on shares of Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. The Goldman Sachs Group initiated coverage on shares of Carrier Global in a report on Thursday, December 12th. They issued a “buy” rating and a $96.00 target price on the stock. Finally, Stephens decreased their price target on shares of Carrier Global from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Monday, October 28th. Eight research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $83.93.

Carrier Global Company 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.