Carrier Global Co. (NYSE:CARR) Shares Purchased by Catalyst Financial Partners LLC

Catalyst Financial Partners LLC increased its position in shares of Carrier Global Co. (NYSE:CARR) by 6.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,698 shares of the company’s stock after purchasing an additional 210 shares during the quarter. Catalyst Financial Partners LLC’s holdings in Carrier Global were worth $252,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. RFG Advisory LLC raised its holdings in Carrier Global by 36.2% during the fourth quarter. RFG Advisory LLC now owns 7,170 shares of the company’s stock worth $489,000 after purchasing an additional 1,904 shares during the last quarter. Princeton Global Asset Management LLC increased its position in Carrier Global by 1,156.1% during the fourth quarter. Princeton Global Asset Management LLC now owns 20,663 shares of the company’s stock worth $1,410,000 after buying an additional 19,018 shares in the last quarter. Daiwa Securities Group Inc. increased its position in Carrier Global by 12.3% during the third quarter. Daiwa Securities Group Inc. now owns 100,440 shares of the company’s stock worth $8,084,000 after buying an additional 11,032 shares in the last quarter. Cerity Partners LLC increased its position in Carrier Global by 39.0% during the third quarter. Cerity Partners LLC now owns 136,821 shares of the company’s stock worth $11,013,000 after buying an additional 38,365 shares in the last quarter. Finally, Miracle Mile Advisors LLC purchased a new position in Carrier Global during the fourth quarter worth $2,213,000. 91.00% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Mizuho raised Carrier Global from a “neutral” rating to an “outperform” rating and set a $78.00 price target for the company in a research report on Friday. Bank of America raised their price target on Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Northcoast Research assumed coverage on Carrier Global in a research report on Friday, November 22nd. They set a “neutral” rating for the company. Citigroup dropped their price target 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. Finally, UBS Group raised Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price objective for the company in a research report on Wednesday, November 13th. Seven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.64.

Carrier Global Price Performance

Shares of Carrier Global stock opened at $65.19 on Friday. Carrier Global Co. has a twelve month low of $53.13 and a twelve month high of $83.32. The stock has a market capitalization of $58.49 billion, a P/E ratio of 16.50, a PEG ratio of 2.11 and a beta of 1.35. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69. The business’s fifty day moving average price is $68.34 and its 200 day moving average price is $72.28.

Carrier Global (NYSE:CARR) last issued its earnings results on Tuesday, February 11th. The company reported $0.54 earnings per share for the quarter, beating 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 company earned $0.53 EPS. As a group, research analysts anticipate that Carrier Global Co. will post 2.52 earnings per share for the current year.

Carrier Global Increases Dividend

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

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