Farmers & Merchants Investments Inc. Sells 696 Shares of Carrier Global Co. (NYSE:CARR)

Farmers & Merchants Investments Inc. decreased its position in Carrier Global Co. (NYSE:CARR) by 2.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,802 shares of the company’s stock after selling 696 shares during the quarter. Farmers & Merchants Investments Inc.’s holdings in Carrier Global were worth $1,966,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Atomi Financial Group Inc. lifted its holdings in shares of Carrier Global by 20.9% during the third quarter. Atomi Financial Group Inc. now owns 5,528 shares of the company’s stock worth $445,000 after buying an additional 956 shares during the last quarter. Brookstone Capital Management grew its position in Carrier Global by 9.4% in 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 last quarter. Marcum Wealth LLC acquired a new position in shares of Carrier Global during the third quarter valued at about $211,000. UMB Bank n.a. lifted its stake in shares of Carrier Global by 1.6% in the third quarter. UMB Bank n.a. now owns 13,150 shares of the company’s stock valued at $1,058,000 after buying an additional 206 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its position in Carrier Global by 359.3% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 6,729 shares of the company’s stock worth $542,000 after buying an additional 5,264 shares in the last quarter. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Carrier Global Stock Down 1.6 %

Shares of NYSE CARR opened at $64.17 on Friday. 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 has a market capitalization of $57.58 billion, a PE ratio of 16.25, a price-to-earnings-growth ratio of 2.11 and a beta of 1.35. The firm’s 50-day moving average is $69.19 and its 200-day moving average is $72.33. Carrier Global Co. has a 1 year low of $53.13 and a 1 year high of $83.32.

Carrier Global declared that its board has initiated a stock buyback program on Thursday, October 24th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase 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 announced a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, December 20th were issued a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date was Friday, December 20th. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s payout ratio is currently 22.78%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Robert W. Baird reduced their price objective on Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Northcoast Research assumed coverage on shares of Carrier Global in a report on Friday, November 22nd. They issued a “neutral” rating on the stock. The Goldman Sachs Group began coverage on shares of Carrier Global in a research note on Thursday, December 12th. They issued a “buy” rating and a $96.00 price objective for the company. Citigroup decreased their target price on shares of Carrier Global from $94.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Finally, Wells Fargo & Company dropped their price target on shares of Carrier Global from $80.00 to $75.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Eight 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $83.93.

Carrier Global 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.