V Square Quantitative Management LLC Raises Stake in Carrier Global Co. (NYSE:CARR)

V Square Quantitative Management LLC raised its position in Carrier Global Co. (NYSE:CARR) by 2.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,635 shares of the company’s stock after acquiring an additional 346 shares during the quarter. V Square Quantitative Management LLC’s holdings in Carrier Global were worth $1,204,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. Catalyst Financial Partners LLC lifted its stake in Carrier Global by 6.0% in the fourth quarter. Catalyst Financial Partners LLC now owns 3,698 shares of the company’s stock worth $252,000 after acquiring an additional 210 shares during the last quarter. Asset Management One Co. Ltd. raised its holdings in Carrier Global by 1.9% during the fourth quarter. Asset Management One Co. Ltd. now owns 475,850 shares of the company’s stock worth $32,786,000 after purchasing an additional 8,746 shares in the last quarter. TFC Financial Management Inc. raised its holdings in Carrier Global by 11.0% during the fourth quarter. TFC Financial Management Inc. now owns 4,330 shares of the company’s stock worth $296,000 after purchasing an additional 428 shares in the last quarter. MFG Wealth Management Inc. acquired a new stake in Carrier Global during the fourth quarter worth approximately $3,274,000. Finally, Naples Global Advisors LLC raised its holdings in Carrier Global by 8.2% during the fourth quarter. Naples Global Advisors LLC now owns 6,385 shares of the company’s stock worth $437,000 after purchasing an additional 485 shares in the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Stephens cut their price objective on shares of Carrier Global from $85.00 to $80.00 and set an “equal weight” rating on the stock in a report on Monday, October 28th. Robert W. Baird cut their target price on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Wells Fargo & Company cut their target price on shares of Carrier Global from $75.00 to $70.00 and set an “equal weight” rating on the stock in a report on Wednesday. The Goldman Sachs Group started coverage on shares of Carrier Global in a report on Thursday, December 12th. They issued a “buy” rating and a $96.00 target price on the stock. Finally, Barclays cut their target price on shares of Carrier Global from $90.00 to $87.00 and set an “overweight” rating on the stock in a report on Wednesday. Seven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Carrier Global currently has an average rating of “Moderate Buy” and a consensus price target of $82.64.

Carrier Global Stock Up 2.4 %

CARR opened at $65.19 on Friday. The company has a market cap of $58.49 billion, a PE ratio of 16.50, a price-to-earnings-growth ratio of 2.11 and a beta of 1.35. Carrier Global Co. has a 1 year low of $53.13 and a 1 year high of $83.32. The firm has a 50 day moving average price of $68.34 and a 200 day moving average price of $72.28. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 1.08.

Carrier Global (NYSE:CARR) last released its earnings results on Tuesday, February 11th. The company reported $0.54 EPS for the quarter, beating the consensus estimate 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 in the previous year, the company posted $0.53 earnings per share. Sell-side analysts expect that Carrier Global Co. will post 2.52 earnings per share for the current year.

Carrier Global Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, December 20th were given a $0.225 dividend. The ex-dividend date was Friday, December 20th. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. This represents a $0.90 annualized dividend and a yield of 1.38%. Carrier Global’s dividend payout ratio (DPR) is currently 22.78%.

Carrier Global declared that its Board of Directors has approved a share repurchase plan on Thursday, October 24th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 4.6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

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.