Amalgamated Bank Cuts Stake in Carrier Global Co. (NYSE:CARR)

Amalgamated Bank lessened its holdings in shares of Carrier Global Co. (NYSE:CARR) by 3.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 167,332 shares of the company’s stock after selling 5,107 shares during the period. Amalgamated Bank’s holdings in Carrier Global were worth $11,422,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Pine Valley Investments Ltd Liability Co boosted its stake in Carrier Global by 57.2% in the 4th quarter. Pine Valley Investments Ltd Liability Co now owns 8,251 shares of the company’s stock worth $563,000 after purchasing an additional 3,003 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new position in shares of Carrier Global in the fourth quarter worth $482,000. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in shares of Carrier Global by 3.7% during the fourth quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 133,989 shares of the company’s stock worth $9,146,000 after buying an additional 4,800 shares during the period. Howard Capital Management Inc. grew its holdings in shares of Carrier Global by 5.4% during the fourth quarter. Howard Capital Management Inc. now owns 5,635 shares of the company’s stock valued at $385,000 after buying an additional 288 shares during the last quarter. Finally, Wealthspire Advisors LLC increased its position in shares of Carrier Global by 3.7% in the 4th quarter. Wealthspire Advisors LLC now owns 4,473 shares of the company’s stock valued at $305,000 after acquiring an additional 161 shares during the period. Institutional investors and hedge funds own 91.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Barclays lowered their price target on Carrier Global from $90.00 to $87.00 and set an “overweight” rating for the company in a research report on Wednesday, February 12th. Northcoast Research began coverage on Carrier Global in a research report on Friday, November 22nd. They issued a “neutral” rating on the stock. UBS Group raised shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price target for the company in a research report on Wednesday, November 13th. Citigroup dropped their price objective on shares of Carrier Global from $94.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Finally, 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 report on Wednesday, February 12th. Six equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $82.47.

Carrier Global Price Performance

NYSE:CARR opened at $67.03 on Wednesday. The company has a quick ratio of 0.96, a current ratio of 1.25 and a debt-to-equity ratio of 0.77. Carrier Global Co. has a 52 week low of $53.33 and a 52 week high of $83.32. The stock’s 50-day moving average price is $67.30 and its 200-day moving average price is $72.43. The stock has a market capitalization of $58.21 billion, a PE ratio of 10.67, a price-to-earnings-growth ratio of 2.01 and a beta of 1.35.

Carrier Global (NYSE:CARR) last issued its quarterly earnings data 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 18.82% and a net margin of 23.83%. During the same period last year, the company earned $0.53 EPS. As a group, equities analysts expect that Carrier Global Co. will post 2.99 EPS for the current fiscal 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 given a dividend of $0.225 per share. 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. This represents a $0.90 dividend on an annualized basis and a yield of 1.34%. Carrier Global’s dividend payout ratio is currently 14.33%.

Carrier Global Company 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.