Carrier Global Co. (NYSE:CARR) Shares Sold by Groesbeck Investment Management Corp NJ

Groesbeck Investment Management Corp NJ reduced its position in shares of Carrier Global Co. (NYSE:CARR) by 35.4% during the fourth quarter, HoldingsChannel reports. The firm owned 7,299 shares of the company’s stock after selling 4,000 shares during the quarter. Groesbeck Investment Management Corp NJ’s holdings in Carrier Global were worth $498,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CARR. Czech National Bank lifted 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 worth $13,766,000 after purchasing an additional 11,350 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Carrier Global by 28.9% during the third quarter. GAMMA Investing LLC now owns 14,456 shares of the company’s stock worth $1,164,000 after purchasing an additional 3,244 shares in the last quarter. Azzad Asset Management Inc. ADV lifted its position in shares of Carrier Global by 1.0% during the third quarter. Azzad Asset Management Inc. ADV now owns 28,978 shares of the company’s stock worth $2,332,000 after purchasing an additional 300 shares in the last quarter. Diversified Trust Co increased its stake in shares of Carrier Global by 27.9% in the third quarter. Diversified Trust Co now owns 17,787 shares of the company’s stock worth $1,432,000 after buying an additional 3,881 shares during the last quarter. Finally, Axiom Advisory LLC bought a new stake in shares of Carrier Global in the third quarter worth $258,000. 91.00% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CARR has been the subject of a number of research analyst reports. JPMorgan Chase & Co. dropped their price target on shares of Carrier Global from $83.00 to $77.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. UBS Group upgraded shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price target for the company in a research note on Wednesday, November 13th. Bank of America lifted their price target on shares of Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. The Goldman Sachs Group initiated coverage on shares of Carrier Global in a research note on Thursday, December 12th. They issued a “buy” rating and a $96.00 price target for the company. Finally, Mizuho lifted their price target on shares of Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Eight 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. According to MarketBeat.com, Carrier Global currently has a consensus rating of “Moderate Buy” and an average target price of $83.93.

Carrier Global Stock Up 1.2 %

Carrier Global stock opened at $63.91 on Wednesday. The company has a 50-day simple moving average of $70.19 and a 200-day simple moving average of $72.48. The firm has a market capitalization of $57.34 billion, a P/E ratio of 16.18, a P/E/G ratio of 2.12 and a beta of 1.35. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 1.08. Carrier Global Co. has a one year low of $53.13 and a one year high of $83.32.

Carrier Global Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, December 20th will be given a dividend of $0.225 per share. The ex-dividend date is Friday, December 20th. This represents a $0.90 annualized dividend and a dividend yield of 1.41%. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s dividend payout ratio is currently 22.78%.

Carrier Global declared that its board has approved a stock repurchase program on Thursday, October 24th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the company to buy up to 4.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are 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.