Kingsview Wealth Management LLC Trims Holdings in Carrier Global Co. (NYSE:CARR)

Kingsview Wealth Management LLC reduced its holdings in shares of Carrier Global Co. (NYSE:CARR) by 2.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 15,655 shares of the company’s stock after selling 434 shares during the period. Kingsview Wealth Management LLC’s holdings in Carrier Global were worth $1,069,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. FSA Wealth Management LLC acquired a new stake in shares of Carrier Global during the 3rd quarter valued at approximately $28,000. McClarren Financial Advisors Inc. boosted its holdings in Carrier Global by 246.0% in the third quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock worth $35,000 after purchasing an additional 310 shares during the period. Coastline Trust Co acquired a new position in Carrier Global in the third quarter worth $37,000. Capital Performance Advisors LLP acquired a new position in Carrier Global in the third quarter worth $44,000. Finally, Ashton Thomas Securities LLC acquired a new position in Carrier Global in the third quarter worth $50,000. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Carrier Global Price Performance

Shares of NYSE CARR opened at $65.31 on Wednesday. Carrier Global Co. has a fifty-two week low of $53.13 and a fifty-two week high of $83.32. The firm’s 50-day simple moving average is $68.99 and its 200 day simple moving average is $72.41. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69. The stock has a market cap of $58.60 billion, a P/E ratio of 16.53, a P/E/G ratio of 2.11 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 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03. Carrier Global had a net margin of 14.98% and a return on equity of 20.52%. During the same quarter in the previous year, the company earned $0.53 EPS. Equities analysts expect that Carrier Global Co. will post 2.52 EPS for the current year.

Carrier Global announced that its Board of Directors has approved a stock repurchase program on Thursday, October 24th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 4.6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Carrier Global Increases Dividend

The firm also recently declared 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 boost 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 payout ratio is 22.78%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Royal Bank of Canada decreased their price objective on shares of Carrier Global from $87.00 to $86.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Mizuho lifted their price objective on shares of Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Citigroup decreased their price objective on shares of Carrier Global from $94.00 to $90.00 and set a “buy” rating for the company in a report on Monday, January 13th. Wells Fargo & Company cut their target price on Carrier Global from $80.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. Finally, Robert W. Baird cut their target price on Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Eight analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $83.93.

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.