State of Alaska Department of Revenue Cuts Stock Holdings in Carrier Global Co. (NYSE:CARR)

State of Alaska Department of Revenue lowered its stake in shares of Carrier Global Co. (NYSE:CARR) by 2.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 120,920 shares of the company’s stock after selling 2,420 shares during the quarter. State of Alaska Department of Revenue’s holdings in Carrier Global were worth $8,253,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Czech National Bank increased its position in shares of Carrier Global by 7.1% during the third quarter. Czech National Bank now owns 171,027 shares of the company’s stock valued at $13,766,000 after acquiring an additional 11,350 shares during the last quarter. Axiom Advisory LLC bought a new position in Carrier Global in the 3rd quarter valued at $258,000. Atomi Financial Group Inc. increased its position in shares of Carrier Global by 20.9% during the 3rd quarter. Atomi Financial Group Inc. now owns 5,528 shares of the company’s stock valued at $445,000 after purchasing an additional 956 shares during the last quarter. Brookstone Capital Management raised its stake in shares of Carrier Global by 9.4% during the 3rd quarter. Brookstone Capital Management now owns 5,999 shares of the company’s stock worth $483,000 after purchasing an additional 513 shares during the period. Finally, Marcum Wealth LLC purchased a new position in shares of Carrier Global in the 3rd quarter worth about $211,000. 91.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have commented on CARR. 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 research report on Thursday, October 17th. The Goldman Sachs Group started coverage on shares of Carrier Global in a report on Thursday, December 12th. They issued a “buy” rating and a $96.00 price target on the stock. Royal Bank of Canada reduced 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. Robert W. Baird lowered 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. Finally, Northcoast Research began coverage on Carrier Global in a research note on Friday, November 22nd. They set a “neutral” rating for the company. Eight research 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $83.93.

Carrier Global Stock Up 0.9 %

Shares of NYSE:CARR opened at $65.15 on Friday. The firm has a fifty day moving average price of $69.69 and a two-hundred day moving average price of $72.40. The company has a market cap of $58.45 billion, a price-to-earnings ratio of 16.49, a PEG ratio of 2.12 and a beta of 1.35. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.08 and a quick ratio of 0.82. Carrier Global Co. has a one year low of $53.13 and a one year high of $83.32.

Carrier Global declared that its Board of Directors has authorized a share 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 purchase up to 4.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Carrier Global Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, December 20th will be paid a dividend of $0.225 per share. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date is Friday, December 20th. This represents a $0.90 annualized dividend and a yield of 1.38%. Carrier Global’s dividend payout ratio (DPR) is currently 22.78%.

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.