Contravisory Investment Management Inc. Decreases Stock Holdings in Carrier Global Co. (NYSE:CARR)

Contravisory Investment Management Inc. lowered its stake in shares of Carrier Global Co. (NYSE:CARR) by 0.5% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 129,349 shares of the company’s stock after selling 608 shares during the period. Carrier Global makes up approximately 1.9% of Contravisory Investment Management Inc.’s holdings, making the stock its 22nd biggest position. Contravisory Investment Management Inc.’s holdings in Carrier Global were worth $8,829,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CARR. Sawyer & Company Inc boosted its stake in shares of Carrier Global by 2,359.0% in the 4th quarter. Sawyer & Company Inc now owns 1,500 shares of the company’s stock worth $102,000 after buying an additional 1,439 shares during the last quarter. Brendel Financial Advisors LLC lifted its holdings in Carrier Global by 8.1% in the fourth quarter. Brendel Financial Advisors LLC now owns 16,641 shares of the company’s stock valued at $1,136,000 after acquiring an additional 1,247 shares during the period. Avity Investment Management Inc. boosted its position in Carrier Global by 27.5% in the fourth quarter. Avity Investment Management Inc. now owns 307,003 shares of the company’s stock worth $20,956,000 after purchasing an additional 66,204 shares during the last quarter. Clarus Wealth Advisors grew its stake in shares of Carrier Global by 32.0% during the 4th quarter. Clarus Wealth Advisors now owns 12,213 shares of the company’s stock valued at $820,000 after purchasing an additional 2,961 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. increased its position in shares of Carrier Global by 34.6% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,584 shares of the company’s stock valued at $108,000 after purchasing an additional 407 shares during the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Wall Street Analyst Weigh In

CARR has been the topic of a number of research reports. Northcoast Research began coverage on shares of Carrier Global in a report on Friday, November 22nd. They issued a “neutral” rating on the stock. UBS Group upgraded shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price target on the stock in a research note on Wednesday, November 13th. JPMorgan Chase & Co. reduced their price objective on Carrier Global from $83.00 to $77.00 and set a “neutral” rating for the company in a research note on Wednesday. Citigroup lowered their target price on Carrier Global from $94.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday. Finally, Oppenheimer upped 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. Eight investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $83.93.

Carrier Global Trading Up 0.8 %

CARR stock opened at $68.93 on Thursday. The company has a market capitalization of $61.85 billion, a price-to-earnings ratio of 17.45, a PEG ratio of 2.73 and a beta of 1.36. 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 1-year low of $53.13 and a 1-year high of $83.32. The business has a 50 day simple moving average of $72.34 and a two-hundred day simple moving average of $72.17.

Carrier Global Increases Dividend

The business also recently announced 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 represents a $0.90 annualized dividend and a yield of 1.31%. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Friday, December 20th. Carrier Global’s dividend payout ratio (DPR) is presently 22.78%.

Carrier Global declared that its board has approved a stock repurchase plan on Thursday, October 24th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 4.6% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.

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.