Carrier Global Co. (NYSE:CARR) Shares Sold by City State Bank

City State Bank trimmed its holdings in shares of Carrier Global Co. (NYSE:CARR) by 15.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,353 shares of the company’s stock after selling 254 shares during the period. City State Bank’s holdings in Carrier Global were worth $92,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. FMR LLC grew its position in Carrier Global by 36.2% in the third quarter. FMR LLC now owns 8,729,073 shares of the company’s stock worth $702,603,000 after buying an additional 2,320,909 shares during the last quarter. Zurich Insurance Group Ltd FI acquired a new position in Carrier Global in the third quarter worth approximately $130,479,000. Point72 Asset Management L.P. acquired a new position in Carrier Global in the second quarter worth approximately $58,415,000. Mizuho Securities USA LLC grew its position in Carrier Global by 1,428.4% in the third quarter. Mizuho Securities USA LLC now owns 987,500 shares of the company’s stock worth $79,484,000 after buying an additional 922,892 shares during the last quarter. Finally, International Assets Investment Management LLC grew its position in Carrier Global by 8,797.3% in the third quarter. International Assets Investment Management LLC now owns 907,258 shares of the company’s stock worth $730,250,000 after buying an additional 897,061 shares during the last quarter. 91.00% of the stock is owned by institutional investors and hedge funds.

Carrier Global Trading Up 1.0 %

Shares of NYSE:CARR opened at $67.18 on Tuesday. The firm has a fifty day moving average of $72.45 and a two-hundred day moving average of $72.13. The firm has a market capitalization of $60.28 billion, a P/E ratio of 17.01, a price-to-earnings-growth ratio of 2.73 and a beta of 1.36. Carrier Global Co. has a 12-month low of $53.13 and a 12-month 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.

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

Carrier Global Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, December 20th will be paid a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 1.34%. The ex-dividend date of this dividend is Friday, December 20th. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s payout ratio is presently 22.78%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on CARR shares. Robert W. Baird decreased their price target on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. The Goldman Sachs Group initiated coverage on shares of Carrier Global in a research report on Thursday, December 12th. They issued a “buy” rating and a $96.00 price target on the stock. Stephens lowered their price objective 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. Barclays lowered their price objective on shares of Carrier Global from $92.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Finally, Northcoast Research initiated coverage on shares of Carrier Global in a research report on Friday, November 22nd. They set a “neutral” rating on the stock. Eight analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Carrier Global currently has an average rating of “Moderate Buy” and an average target price of $84.36.

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.