Carrier Global Co. (NYSE:CARR) Shares Sold by Tower Bridge Advisors

Tower Bridge Advisors lessened its holdings in Carrier Global Co. (NYSE:CARR) by 1.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 12,389 shares of the company’s stock after selling 225 shares during the period. Tower Bridge Advisors’ holdings in Carrier Global were worth $846,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. RFG Advisory LLC boosted its holdings in shares of Carrier Global by 36.2% in the 4th quarter. RFG Advisory LLC now owns 7,170 shares of the company’s stock valued at $489,000 after buying an additional 1,904 shares during the period. Princeton Global Asset Management LLC boosted its stake in Carrier Global by 1,156.1% in the fourth quarter. Princeton Global Asset Management LLC now owns 20,663 shares of the company’s stock valued at $1,410,000 after acquiring an additional 19,018 shares during the period. Daiwa Securities Group Inc. grew its holdings in shares of Carrier Global by 12.3% during the third quarter. Daiwa Securities Group Inc. now owns 100,440 shares of the company’s stock valued at $8,084,000 after purchasing an additional 11,032 shares during the last quarter. Cerity Partners LLC raised its position in shares of Carrier Global by 39.0% during the 3rd quarter. Cerity Partners LLC now owns 136,821 shares of the company’s stock worth $11,013,000 after purchasing an additional 38,365 shares during the period. Finally, Miracle Mile Advisors LLC bought a new stake in shares of Carrier Global in the 4th quarter worth approximately $2,213,000. Institutional investors own 91.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on CARR shares. Mizuho raised Carrier Global from a “neutral” rating to an “outperform” rating and set a $78.00 target price on the stock in a research report on Friday, February 14th. The Goldman Sachs Group began coverage on shares of Carrier Global in a report on Thursday, December 12th. They issued a “buy” rating and a $96.00 price objective on the stock. Royal Bank of Canada reduced their target price on shares of Carrier Global from $86.00 to $76.00 and set an “outperform” rating for the company in a research note on Wednesday, February 12th. Barclays dropped their price target on shares of Carrier Global from $90.00 to $87.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 12th. Finally, Wolfe Research upgraded Carrier Global from a “peer perform” rating to an “outperform” rating and set a $80.00 price objective for the company in a research report on Monday, February 24th. Six research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Carrier Global currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.47.

Carrier Global Stock Performance

Shares of NYSE CARR opened at $64.81 on Friday. Carrier Global Co. has a 1 year low of $53.33 and a 1 year high of $83.32. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.96 and a current ratio of 1.25. The stock has a fifty day moving average price of $67.15 and a two-hundred day moving average price of $72.33. The firm has a market cap of $56.00 billion, a P/E ratio of 10.32, a PEG ratio of 2.01 and a beta of 1.35.

Carrier Global (NYSE:CARR) last announced its earnings results on Tuesday, February 11th. The company reported $0.54 earnings per share 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 quarter in the previous year, the company earned $0.53 earnings per share. Research analysts forecast that Carrier Global Co. will post 2.99 EPS for the current fiscal year.

Carrier Global Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, December 20th were issued a $0.225 dividend. This is an increase from Carrier Global’s previous quarterly dividend of $0.19. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date was Friday, December 20th. Carrier Global’s payout ratio is presently 14.33%.

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.