Private Advisor Group LLC Trims Stake in Carrier Global Co. (NYSE:CARR)

Private Advisor Group LLC lessened its holdings in shares of Carrier Global Co. (NYSE:CARR) by 1.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 75,269 shares of the company’s stock after selling 836 shares during the quarter. Private Advisor Group LLC’s holdings in Carrier Global were worth $5,138,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of CARR. FSA Wealth Management LLC bought a new position in Carrier Global in the 3rd quarter worth $28,000. Coastline Trust Co purchased a new stake in Carrier Global in the third quarter worth about $37,000. Capital Performance Advisors LLP bought a new position in shares of Carrier Global in the third quarter worth about $44,000. Roxbury Financial LLC purchased a new position in shares of Carrier Global during the 4th quarter valued at about $49,000. Finally, Ashton Thomas Securities LLC purchased a new position in shares of Carrier Global during the 3rd quarter valued at about $50,000. Institutional investors own 91.00% of the company’s stock.

Carrier Global Price Performance

Shares of Carrier Global stock opened at $66.10 on Friday. The firm has a market cap of $57.39 billion, a PE ratio of 10.52, a PEG ratio of 2.01 and a beta of 1.35. The stock has a 50 day moving average of $67.46 and a 200 day moving average of $72.33. The company has a current ratio of 1.25, a quick ratio of 0.96 and a debt-to-equity ratio of 0.77. Carrier Global Co. has a 12 month low of $53.33 and a 12 month high of $83.32.

Carrier Global (NYSE:CARR) last posted its earnings results on Tuesday, February 11th. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates 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 prior year, the company posted $0.53 earnings per share. On average, research analysts expect that Carrier Global Co. will post 2.99 EPS for the current fiscal year.

Carrier Global Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, December 20th were paid a $0.225 dividend. 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 dividend yield of 1.36%. The ex-dividend date of this dividend was Friday, December 20th. Carrier Global’s dividend payout ratio (DPR) is presently 14.33%.

Analysts Set New Price Targets

A number of equities research analysts have commented on CARR shares. JPMorgan Chase & Co. decreased their target price on shares of Carrier Global from $83.00 to $77.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. Stephens decreased 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 research report on Monday, October 28th. Northcoast Research began coverage on shares of Carrier Global in a research note on Friday, November 22nd. They set a “neutral” rating on the stock. Citigroup cut their price target on Carrier Global from $94.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Finally, Royal Bank of Canada lowered their price objective on Carrier Global from $86.00 to $76.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 12th. Seven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $82.64.

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.