Redhawk Wealth Advisors Inc. Lowers Stake in Carrier Global Co. (NYSE:CARR)

Redhawk Wealth Advisors Inc. lessened its holdings in Carrier Global Co. (NYSE:CARR) by 13.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,962 shares of the company’s stock after selling 592 shares during the quarter. Redhawk Wealth Advisors Inc.’s holdings in Carrier Global were worth $270,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC grew its stake in shares of Carrier Global by 36.2% in the 3rd quarter. FMR LLC now owns 8,729,073 shares of the company’s stock worth $702,603,000 after buying an additional 2,320,909 shares during the last quarter. Zurich Insurance Group Ltd FI bought a new stake in Carrier Global in the third quarter worth $130,479,000. Point72 Asset Management L.P. purchased a new stake in shares of Carrier Global in the second quarter worth $58,415,000. Mizuho Securities USA LLC increased its holdings in shares of Carrier Global by 1,428.4% during the third quarter. Mizuho Securities USA LLC now owns 987,500 shares of the company’s stock valued at $79,484,000 after acquiring an additional 922,892 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its stake in Carrier Global by 8,797.3% in the 3rd quarter. International Assets Investment Management LLC now owns 907,258 shares of the company’s stock worth $730,250,000 after purchasing an additional 897,061 shares in the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. UBS Group raised shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 target price for the company in a report on Wednesday, November 13th. Barclays lowered their price objective on Carrier Global from $92.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Mizuho lifted their target price on Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. JPMorgan Chase & Co. lowered their price target on Carrier Global from $83.00 to $77.00 and set a “neutral” rating on the stock in a report on Wednesday. Finally, Bank of America lifted their price objective on Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Eight analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.93.

Carrier Global Price Performance

Shares of NYSE:CARR opened at $69.72 on Friday. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $62.56 billion, a PE ratio of 17.65, a price-to-earnings-growth ratio of 2.03 and a beta of 1.36. The firm’s 50 day moving average price is $72.21 and its 200-day moving average price is $72.14. Carrier Global Co. has a twelve month low of $53.13 and a twelve month high of $83.32.

Carrier Global Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Stockholders 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 dividend yield of 1.29%. The ex-dividend date is Friday, December 20th. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s dividend payout ratio (DPR) is currently 22.78%.

Carrier Global declared that its Board of Directors has approved a share 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 shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board 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.