Hartford Investment Management Co. Has $3.53 Million Stock Holdings in Carrier Global Co. (NYSE:CARR)

Hartford Investment Management Co. decreased its position in Carrier Global Co. (NYSE:CARR) by 2.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 51,640 shares of the company’s stock after selling 1,273 shares during the quarter. Hartford Investment Management Co.’s holdings in Carrier Global were worth $3,525,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. FSA Wealth Management LLC acquired a new position in shares of Carrier Global during the 3rd quarter worth about $28,000. McClarren Financial Advisors Inc. increased its position in Carrier Global by 246.0% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock worth $35,000 after buying an additional 310 shares during the period. Coastline Trust Co acquired a new position in shares of Carrier Global during the third quarter worth approximately $37,000. Capital Performance Advisors LLP bought a new stake in shares of Carrier Global in the third quarter valued at approximately $44,000. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of Carrier Global in the third quarter worth $50,000. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently commented on CARR shares. The Goldman Sachs Group initiated coverage on shares of Carrier Global in a research note on Thursday, December 12th. They set a “buy” rating and a $96.00 target price for the company. Wells Fargo & Company reduced their target price on shares of Carrier Global from $75.00 to $70.00 and set an “equal weight” rating for the company in a research note on Wednesday. Citigroup decreased their target price on Carrier Global from $94.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Robert W. Baird cut their price target on Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Finally, Royal Bank of Canada decreased their price objective on Carrier Global from $86.00 to $76.00 and set an “outperform” rating on the stock in a report on Wednesday. Eight equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $82.64.

Carrier Global Price Performance

NYSE:CARR opened at $63.60 on Thursday. The firm has a market cap of $57.06 billion, a PE ratio of 16.10, a price-to-earnings-growth ratio of 2.11 and a beta of 1.35. The company’s 50-day moving average price is $68.78 and its two-hundred day moving average price is $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. Carrier Global Co. has a 12 month low of $53.13 and a 12 month high of $83.32.

Carrier Global (NYSE:CARR) last released its quarterly earnings results on Tuesday, February 11th. The company reported $0.54 EPS 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 quarter last year, the firm posted $0.53 EPS. On average, equities analysts anticipate that Carrier Global Co. will post 2.52 EPS for the current fiscal year.

Carrier Global announced that its board has authorized a stock repurchase plan on Thursday, October 24th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 4.6% of its stock through open market purchases. Stock repurchase plans are generally a sign 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. Investors of record on Friday, December 20th were issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.42%. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date was Friday, December 20th. Carrier Global’s payout ratio is currently 22.78%.

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.