TCV Trust & Wealth Management Inc. Sells 281 Shares of Carrier Global Co. (NYSE:CARR)

TCV Trust & Wealth Management Inc. lowered its holdings in shares of Carrier Global Co. (NYSE:CARR) by 2.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 9,629 shares of the company’s stock after selling 281 shares during the quarter. TCV Trust & Wealth Management Inc.’s holdings in Carrier Global were worth $657,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Leavell Investment Management Inc. boosted its stake in shares of Carrier Global by 17.8% during the fourth quarter. Leavell Investment Management Inc. now owns 5,927 shares of the company’s stock valued at $406,000 after purchasing an additional 895 shares during the period. Summit Trail Advisors LLC lifted its holdings in Carrier Global by 10.6% during the 4th quarter. Summit Trail Advisors LLC now owns 24,240 shares of the company’s stock valued at $1,660,000 after buying an additional 2,321 shares in the last quarter. Soltis Investment Advisors LLC boosted its position in Carrier Global by 1.8% in the 4th quarter. Soltis Investment Advisors LLC now owns 12,962 shares of the company’s stock valued at $885,000 after buying an additional 232 shares during the period. Wingate Wealth Advisors Inc. bought a new position in Carrier Global in the 4th quarter worth about $255,000. Finally, Angeles Wealth Management LLC increased its position in shares of Carrier Global by 10.6% during the fourth quarter. Angeles Wealth Management LLC now owns 4,375 shares of the company’s stock worth $299,000 after acquiring an additional 418 shares during the period. Institutional investors own 91.00% of the company’s stock.

Carrier Global Price Performance

Shares of CARR opened at $65.31 on Wednesday. The company has a 50 day moving average of $68.99 and a two-hundred day moving average of $72.41. 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 Co. has a twelve month low of $53.13 and a twelve month high of $83.32. The company has a market cap of $58.60 billion, a price-to-earnings ratio of 16.53, a price-to-earnings-growth ratio of 2.11 and a beta of 1.35.

Carrier Global (NYSE:CARR) last posted its quarterly earnings data on Tuesday, February 11th. The company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.03. Carrier Global had a return on equity of 20.52% and a net margin of 14.98%. During the same period in the previous year, the business posted $0.53 earnings per share. As a group, analysts predict that Carrier Global Co. will post 2.52 earnings per share for the current fiscal year.

Carrier Global declared that its board 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 buy up to 4.6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Carrier Global Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, December 20th were paid a dividend of $0.225 per share. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date was Friday, December 20th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.38%. Carrier Global’s payout ratio is presently 22.78%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Barclays lowered their price target on Carrier Global from $92.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Royal Bank of Canada lowered their target price on Carrier Global from $87.00 to $86.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. JPMorgan Chase & Co. cut their price target on Carrier Global from $83.00 to $77.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. Citigroup lowered their price objective on shares of Carrier Global from $94.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Finally, Wells Fargo & Company dropped 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 report on Tuesday, January 7th. 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’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $83.93.

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.