Telos Capital Management Inc. Has $7.39 Million Holdings in Carrier Global Co. (NYSE:CARR)

Telos Capital Management Inc. lessened its stake in Carrier Global Co. (NYSE:CARR) by 1.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 108,236 shares of the company’s stock after selling 1,817 shares during the quarter. Telos Capital Management Inc.’s holdings in Carrier Global were worth $7,388,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. FSM Wealth Advisors LLC boosted its holdings in Carrier Global by 2.2% during the third quarter. FSM Wealth Advisors LLC now owns 6,373 shares of the company’s stock worth $513,000 after purchasing an additional 136 shares during the last quarter. Meridian Wealth Management LLC boosted its holdings in Carrier Global by 2.3% during the third quarter. Meridian Wealth Management LLC now owns 6,030 shares of the company’s stock worth $485,000 after purchasing an additional 137 shares during the last quarter. UMB Bank n.a. boosted its holdings in Carrier Global by 1.1% during the fourth quarter. UMB Bank n.a. now owns 13,293 shares of the company’s stock worth $907,000 after purchasing an additional 143 shares during the last quarter. Essex Savings Bank boosted its holdings in Carrier Global by 2.2% during the third quarter. Essex Savings Bank now owns 6,608 shares of the company’s stock worth $532,000 after purchasing an additional 144 shares during the last quarter. Finally, Chicago Partners Investment Group LLC boosted its holdings in Carrier Global by 2.6% during the fourth quarter. Chicago Partners Investment Group LLC now owns 5,887 shares of the company’s stock worth $403,000 after purchasing an additional 147 shares during the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Trading Up 0.9 %

Shares of Carrier Global stock opened at $65.15 on Friday. The firm has a market capitalization of $58.45 billion, a PE ratio of 16.49, a price-to-earnings-growth ratio of 2.12 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 firm’s 50 day moving average is $69.69 and its 200 day moving average is $72.40. Carrier Global Co. has a 1 year low of $53.13 and a 1 year high of $83.32.

Carrier Global announced that its board has authorized a share buyback program 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 programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Carrier Global Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, December 20th will be issued a dividend of $0.225 per share. The ex-dividend date is 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 dividend yield of 1.38%. Carrier Global’s payout ratio is 22.78%.

Analyst Upgrades and Downgrades

CARR has been the subject of several recent research reports. The Goldman Sachs Group initiated coverage on shares of Carrier Global in a report on Thursday, December 12th. They set a “buy” rating and a $96.00 target price for the company. JPMorgan Chase & Co. cut their price target on shares of Carrier Global from $83.00 to $77.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. Bank of America increased their price target on shares of Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Stephens cut their price target on shares of Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a research note on Monday, October 28th. Finally, UBS Group upgraded 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 note on Wednesday, November 13th. Eight research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Carrier Global presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.93.

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.