Carrier Global Co. (NYSE:CARR) Shares Sold by Canandaigua National Bank & Trust Co.

Canandaigua National Bank & Trust Co. reduced its stake in shares of Carrier Global Co. (NYSE:CARR) by 1.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 58,536 shares of the company’s stock after selling 593 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Carrier Global were worth $3,996,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. FSA Wealth Management LLC purchased a new stake in shares of Carrier Global in the third quarter valued at about $28,000. Meeder Asset Management Inc. lifted its stake in Carrier Global by 675.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock valued at $29,000 after buying an additional 405 shares in the last quarter. McClarren Financial Advisors Inc. grew its holdings in Carrier Global by 246.0% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock valued at $35,000 after buying an additional 310 shares during the last quarter. Coastline Trust Co acquired a new position in shares of Carrier Global in the third quarter worth $37,000. Finally, Country Trust Bank acquired a new stake in shares of Carrier Global during the third quarter valued at $40,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Stock Down 0.8 %

CARR traded down $0.57 during trading on Monday, hitting $68.69. The company had a trading volume of 3,509,770 shares, compared to its average volume of 3,162,805. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.08 and a quick ratio of 0.82. Carrier Global Co. has a 1-year low of $53.13 and a 1-year high of $83.32. The business has a 50-day moving average of $73.14 and a 200-day moving average of $71.95. The company has a market cap of $61.63 billion, a PE ratio of 17.39, a P/E/G ratio of 2.73 and a beta of 1.36.

Carrier Global declared that its Board of Directors has initiated a stock buyback program on Thursday, October 24th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 4.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Carrier Global Increases Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. The Goldman Sachs Group started coverage on Carrier Global in a report on Thursday, December 12th. They set a “buy” rating and a $96.00 price objective on the stock. Northcoast Research started coverage on shares of Carrier Global in a research note on Friday, November 22nd. They set a “neutral” rating for the company. Oppenheimer raised their target price on shares of Carrier Global from $74.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Barclays increased their price target on shares of Carrier Global from $89.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Finally, Wells Fargo & Company dropped their price objective on Carrier Global from $82.00 to $76.00 and set an “equal weight” rating for the company in a report on Friday, October 25th. Eight investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $83.43.

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.