Cohen Klingenstein LLC Reduces Holdings in Carrier Global Co. (NYSE:CARR)

Cohen Klingenstein LLC reduced its stake in shares of Carrier Global Co. (NYSE:CARR) by 20.3% in the 4th quarter, HoldingsChannel reports. The firm owned 45,668 shares of the company’s stock after selling 11,614 shares during the quarter. Cohen Klingenstein LLC’s holdings in Carrier Global were worth $3,117,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CARR. InTrack Investment Management Inc grew its stake in Carrier Global by 132.1% in the 4th quarter. InTrack Investment Management Inc now owns 19,893 shares of the company’s stock worth $1,361,000 after acquiring an additional 11,323 shares during the period. Brooklyn Investment Group boosted its holdings in Carrier Global by 16.3% in the fourth quarter. Brooklyn Investment Group now owns 3,611 shares of the company’s stock valued at $246,000 after acquiring an additional 505 shares during the last quarter. Professional Advisory Services Inc. raised its stake in shares of Carrier Global by 4.1% in the 4th quarter. Professional Advisory Services Inc. now owns 295,627 shares of the company’s stock valued at $20,179,000 after acquiring an additional 11,585 shares during the period. Merit Financial Group LLC lifted its stake in shares of Carrier Global by 12.5% during the fourth quarter. Merit Financial Group LLC now owns 41,867 shares of the company’s stock worth $2,858,000 after purchasing an additional 4,656 shares in the last quarter. Finally, Boston Common Asset Management LLC grew its stake in shares of Carrier Global by 0.3% in the fourth quarter. Boston Common Asset Management LLC now owns 306,196 shares of the company’s stock valued at $20,901,000 after buying an additional 1,022 shares in the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Performance

Carrier Global stock opened at $69.74 on Friday. The business’s 50-day simple moving average is $71.96 and its 200-day simple moving average is $72.18. Carrier Global Co. has a 52 week low of $53.13 and a 52 week high of $83.32. The firm has a market capitalization of $62.57 billion, a PE ratio of 17.66, a PEG ratio of 2.03 and a beta of 1.36. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 1.08.

Carrier Global Increases Dividend

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

Carrier Global declared that its Board of Directors has initiated a share buyback program on Thursday, October 24th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 4.6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

A number of research analysts have recently commented on CARR shares. Wells Fargo & Company reduced their target price on shares of Carrier Global from $80.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. UBS Group upgraded Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 target price for the company in a research report on Wednesday, November 13th. Robert W. Baird dropped their price target on Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Citigroup decreased their price objective on shares of Carrier Global from $94.00 to $90.00 and set a “buy” rating for the company in a report on Monday, January 13th. Finally, Stephens reduced 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 analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Carrier Global presently has an average rating of “Moderate Buy” and an average price target of $83.93.

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.