InTrack Investment Management Inc Buys 11,323 Shares of Carrier Global Co. (NYSE:CARR)

InTrack Investment Management Inc raised its stake in Carrier Global Co. (NYSE:CARR) by 132.1% during the 4th quarter, Holdings Channel reports. The fund owned 19,893 shares of the company’s stock after acquiring an additional 11,323 shares during the period. InTrack Investment Management Inc’s holdings in Carrier Global were worth $1,361,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. FSM Wealth Advisors LLC increased its stake in shares of 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 period. Meridian Wealth Management LLC grew its holdings in Carrier Global by 2.3% in the 3rd quarter. Meridian Wealth Management LLC now owns 6,030 shares of the company’s stock valued at $485,000 after buying an additional 137 shares in the last quarter. Essex Savings Bank increased its position in Carrier Global by 2.2% during the 3rd quarter. Essex Savings Bank now owns 6,608 shares of the company’s stock worth $532,000 after buying an additional 144 shares during the period. Boston Financial Mangement LLC lifted its holdings in shares of Carrier Global by 1.7% during the third quarter. Boston Financial Mangement LLC now owns 9,208 shares of the company’s stock worth $741,000 after buying an additional 150 shares in the last quarter. Finally, Sittner & Nelson LLC boosted its position in shares of Carrier Global by 4.9% in the third quarter. Sittner & Nelson LLC now owns 3,187 shares of the company’s stock valued at $257,000 after acquiring an additional 150 shares during the period. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Carrier Global Price Performance

Shares of NYSE:CARR opened at $69.74 on Friday. Carrier Global Co. has a one year low of $53.13 and a one year high of $83.32. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.08 and a quick ratio of 0.82. The company has a market cap of $62.57 billion, a price-to-earnings ratio of 17.66, a PEG ratio of 2.03 and a beta of 1.36. The firm has a 50 day simple moving average of $72.10 and a 200 day simple moving average of $72.13.

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

Carrier Global Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, December 20th will be issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date is Friday, December 20th. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s dividend payout ratio is presently 22.78%.

Analysts Set New Price Targets

Several analysts have weighed in on CARR shares. Northcoast Research began coverage on shares of Carrier Global in a research note on Friday, November 22nd. They issued a “neutral” rating for the company. Citigroup dropped their price target on shares of Carrier Global from $94.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Oppenheimer increased their price target on Carrier Global from $74.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Royal Bank of Canada dropped their price objective on Carrier Global from $87.00 to $86.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Finally, UBS Group upgraded Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 target price for the company in a research report on Wednesday, November 13th. Eight investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average 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.