Carrier Global Co. (NYSE:CARR) Shares Purchased by Soltis Investment Advisors LLC

Soltis Investment Advisors LLC boosted its holdings in Carrier Global Co. (NYSE:CARR) by 1.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 12,962 shares of the company’s stock after buying an additional 232 shares during the period. Soltis Investment Advisors LLC’s holdings in Carrier Global were worth $885,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. FMR LLC raised its holdings in shares of Carrier Global by 36.2% in the 3rd quarter. FMR LLC now owns 8,729,073 shares of the company’s stock worth $702,603,000 after purchasing an additional 2,320,909 shares during the period. Zurich Insurance Group Ltd FI purchased a new position in shares of Carrier Global in the 3rd quarter worth about $130,479,000. Mizuho Securities USA LLC raised its holdings in shares of Carrier Global by 1,428.4% in the 3rd quarter. Mizuho Securities USA LLC now owns 987,500 shares of the company’s stock worth $79,484,000 after purchasing an additional 922,892 shares during the period. International Assets Investment Management LLC raised its holdings in shares of Carrier Global by 8,797.3% in the 3rd quarter. International Assets Investment Management LLC now owns 907,258 shares of the company’s stock worth $730,250,000 after purchasing an additional 897,061 shares during the period. Finally, State Street Corp raised its holdings in shares of Carrier Global by 1.4% in the 3rd quarter. State Street Corp now owns 33,665,505 shares of the company’s stock worth $2,709,736,000 after purchasing an additional 469,108 shares during the period. 91.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CARR shares. UBS Group upgraded Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 target price on the stock in a report on Wednesday, November 13th. Mizuho raised their target price on 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 started coverage on Carrier Global in a report on Thursday, December 12th. They set a “buy” rating and a $96.00 target price on the stock. JPMorgan Chase & Co. dropped their target price on Carrier Global from $83.00 to $77.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. Finally, Stephens dropped their target price on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating on the stock in a report on Monday, October 28th. Eight research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Carrier Global presently has a consensus rating of “Moderate Buy” and an average target price of $83.93.

Carrier Global Price Performance

Shares of NYSE CARR opened at $66.35 on Tuesday. Carrier Global Co. has a fifty-two week low of $53.13 and a fifty-two week high of $83.32. The business has a 50 day moving average price of $69.19 and a two-hundred day moving average price of $72.40. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69. The firm has a market cap of $59.53 billion, a PE ratio of 16.80, a price-to-earnings-growth ratio of 2.11 and a beta of 1.35.

Carrier Global Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, December 20th were given a $0.225 dividend. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Friday, December 20th. This represents a $0.90 annualized dividend and a dividend yield of 1.36%. Carrier Global’s dividend payout ratio (DPR) is presently 22.78%.

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

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.