Davidson Trust Co. Sells 314 Shares of Carrier Global Co. (NYSE:CARR)

Davidson Trust Co. trimmed its position in shares of Carrier Global Co. (NYSE:CARR) by 7.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,799 shares of the company’s stock after selling 314 shares during the period. Davidson Trust Co.’s holdings in Carrier Global were worth $259,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. FMR LLC increased its stake in Carrier Global by 36.2% in the third quarter. FMR LLC now owns 8,729,073 shares of the company’s stock valued at $702,603,000 after acquiring an additional 2,320,909 shares during the last quarter. Zurich Insurance Group Ltd FI acquired a new stake in shares of Carrier Global in the 3rd quarter valued at $130,479,000. Mizuho Securities USA LLC increased its stake in shares of Carrier Global by 1,428.4% in the 3rd quarter. Mizuho Securities USA LLC now owns 987,500 shares of the company’s stock valued at $79,484,000 after purchasing an additional 922,892 shares during the last quarter. International Assets Investment Management LLC raised its holdings in shares of Carrier Global by 8,797.3% during the 3rd quarter. International Assets Investment Management LLC now owns 907,258 shares of the company’s stock worth $730,250,000 after buying an additional 897,061 shares in the last quarter. Finally, State Street Corp lifted its position in shares of Carrier Global by 1.4% during the 3rd quarter. State Street Corp now owns 33,665,505 shares of the company’s stock worth $2,709,736,000 after buying an additional 469,108 shares during the last quarter. 91.00% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Stephens decreased their target price on 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. UBS Group raised shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price target on the stock in a report on Wednesday, November 13th. Citigroup lowered their price objective 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. Robert W. Baird cut their target price on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Finally, Wells Fargo & Company lowered their price target on shares of Carrier Global from $75.00 to $70.00 and set an “equal weight” rating for the company in a report on Wednesday, February 12th. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Carrier Global currently has an average rating of “Moderate Buy” and a consensus price target of $82.64.

Carrier Global Trading Up 2.4 %

Shares of CARR stock opened at $65.19 on Tuesday. Carrier Global Co. has a 1-year low of $53.13 and a 1-year high of $83.32. 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 stock has a market cap of $58.49 billion, a price-to-earnings ratio of 16.50, a PEG ratio of 2.11 and a beta of 1.35. The stock has a 50-day moving average of $68.01 and a 200-day moving average of $72.32.

Carrier Global (NYSE:CARR) last released its earnings results 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 prior year, the firm posted $0.53 earnings per share. On average, equities research analysts forecast that Carrier Global Co. will post 2.52 earnings per share for the current year.

Carrier Global Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, December 20th were issued a $0.225 dividend. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Friday, December 20th. This represents a $0.90 annualized dividend and a yield of 1.38%. Carrier Global’s payout ratio is presently 22.78%.

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

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.