Lincoln Capital LLC Raises Stake in Carrier Global Co. (NYSE:CARR)

Lincoln Capital LLC lifted its stake in Carrier Global Co. (NYSE:CARR) by 2.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 119,065 shares of the company’s stock after purchasing an additional 2,921 shares during the period. Carrier Global makes up 1.7% of Lincoln Capital LLC’s investment portfolio, making the stock its 13th largest holding. Lincoln Capital LLC’s holdings in Carrier Global were worth $8,127,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. State Street Corp grew its holdings in Carrier Global by 1.4% in the third quarter. State Street Corp now owns 33,665,505 shares of the company’s stock valued at $2,709,736,000 after purchasing an additional 469,108 shares during the last quarter. Geode Capital Management LLC grew its stake in Carrier Global by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 16,937,689 shares of the company’s stock valued at $1,357,961,000 after acquiring an additional 289,439 shares during the last quarter. Fisher Asset Management LLC increased its holdings in Carrier Global by 1.9% during the 3rd quarter. Fisher Asset Management LLC now owns 14,267,109 shares of the company’s stock valued at $1,148,360,000 after acquiring an additional 269,538 shares in the last quarter. FMR LLC raised its position in Carrier Global by 36.2% during the third quarter. FMR LLC now owns 8,729,073 shares of the company’s stock worth $702,603,000 after acquiring an additional 2,320,909 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Carrier Global by 1.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,993,169 shares of the company’s stock valued at $482,390,000 after purchasing an additional 110,988 shares in the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. The Goldman Sachs Group began coverage on shares of Carrier Global in a research note on Thursday, December 12th. They issued a “buy” rating and a $96.00 target price for the company. Barclays reduced 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 note on Wednesday, January 8th. Bank of America lifted their target price on shares of Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Northcoast Research assumed coverage on Carrier Global in a research note on Friday, November 22nd. They set a “neutral” rating on the stock. Finally, Citigroup lowered their price objective on Carrier Global from $94.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Eight analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Carrier Global presently has an average rating of “Moderate Buy” and an average target price of $83.93.

Carrier Global Price Performance

CARR opened at $69.74 on Monday. 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 Co. has a 1-year low of $53.13 and a 1-year high of $83.32. The company has a 50-day moving average of $71.96 and a 200-day moving average of $72.25. The company has a market capitalization of $62.57 billion, a P/E ratio of 17.66, a PEG ratio of 2.03 and a beta of 1.36.

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

Carrier Global Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, December 20th will be given a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 1.29%. 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 dividend payout ratio is currently 22.78%.

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.