Adirondack Trust Co. Has $275,000 Position in Carrier Global Co. (NYSE:CARR)

Adirondack Trust Co. cut its stake in Carrier Global Co. (NYSE:CARR) by 10.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,028 shares of the company’s stock after selling 450 shares during the period. Adirondack Trust Co.’s holdings in Carrier Global were worth $275,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Bartlett & CO. Wealth Management LLC boosted its position in shares of Carrier Global by 2.6% during the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 29,560 shares of the company’s stock worth $2,024,000 after acquiring an additional 742 shares in the last quarter. Advisory Alpha LLC bought a new stake in Carrier Global during the fourth quarter worth $239,000. Dakota Wealth Management boosted its holdings in shares of Carrier Global by 18.5% in the 4th quarter. Dakota Wealth Management now owns 22,235 shares of the company’s stock valued at $1,518,000 after purchasing an additional 3,478 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Carrier Global by 0.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 242,675 shares of the company’s stock valued at $16,620,000 after purchasing an additional 1,222 shares during the last quarter. Finally, Simon Quick Advisors LLC raised its holdings in shares of Carrier Global by 5.4% during the 4th quarter. Simon Quick Advisors LLC now owns 3,235 shares of the company’s stock worth $221,000 after buying an additional 167 shares in the last quarter. 91.00% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. UBS Group raised Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price objective on the stock in a research note on Wednesday, November 13th. The Goldman Sachs Group began coverage on shares of Carrier Global in a report on Thursday, December 12th. They set a “buy” rating and a $96.00 price target on the stock. Mizuho increased their price objective on shares of Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Stephens decreased their target price on shares of Carrier Global from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Monday, October 28th. Finally, Robert W. Baird lowered their price target on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Eight investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $83.93.

Carrier Global Stock Down 0.8 %

Carrier Global stock opened at $70.01 on Thursday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 1.08. The firm has a market cap of $62.81 billion, a price-to-earnings ratio of 17.72, a PEG ratio of 2.27 and a beta of 1.36. The firm has a 50 day moving average price of $71.61 and a two-hundred day moving average price of $72.39. Carrier Global Co. has a 52-week low of $53.13 and a 52-week high of $83.32.

Carrier Global Increases Dividend

The firm 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 is an increase from Carrier Global’s previous quarterly dividend of $0.19. This represents a $0.90 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date is Friday, December 20th. Carrier Global’s payout ratio is presently 22.78%.

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

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.