Folger Nolan Fleming Douglas Capital Management Inc. Has $652,000 Stake in Carrier Global Co. (NYSE:CARR)

Folger Nolan Fleming Douglas Capital Management Inc. lowered its holdings in Carrier Global Co. (NYSE:CARR) by 2.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 9,557 shares of the company’s stock after selling 231 shares during the quarter. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Carrier Global were worth $652,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of CARR. Frank Rimerman Advisors LLC lifted its holdings in shares of Carrier Global by 54,708.0% in the second quarter. Frank Rimerman Advisors LLC now owns 13,702 shares of the company’s stock valued at $864,000 after purchasing an additional 13,677 shares in the last quarter. Cerity Partners LLC grew its holdings in Carrier Global by 39.0% during the third quarter. Cerity Partners LLC now owns 136,821 shares of the company’s stock worth $11,013,000 after buying an additional 38,365 shares in the last quarter. Daiwa Securities Group Inc. lifted its stake in Carrier Global by 12.3% during the 3rd quarter. Daiwa Securities Group Inc. now owns 100,440 shares of the company’s stock valued at $8,084,000 after acquiring an additional 11,032 shares in the last quarter. Sheaff Brock Investment Advisors LLC bought a new stake in shares of Carrier Global in the 3rd quarter worth $1,068,000. Finally, Miracle Mile Advisors LLC purchased a new stake in shares of Carrier Global in the fourth quarter valued at about $2,213,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CARR shares. Barclays reduced their price objective on shares of Carrier Global from $92.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Wells Fargo & Company dropped their price target on Carrier Global from $80.00 to $75.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. The Goldman Sachs Group assumed coverage on Carrier Global in a research note on Thursday, December 12th. They set a “buy” rating and a $96.00 target price on the stock. Mizuho increased their price target on shares of Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Carrier Global from $83.00 to $77.00 and set a “neutral” rating on the stock in a research report on Wednesday. Eight research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $83.93.

Carrier Global Price Performance

Shares of NYSE CARR opened at $69.74 on Friday. The stock has a fifty day moving average of $72.10 and a 200-day moving average of $72.13. The stock has a market cap of $62.57 billion, a PE ratio of 17.66, a price-to-earnings-growth ratio of 2.03 and a beta of 1.36. 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 fifty-two week low of $53.13 and a fifty-two week high of $83.32.

Carrier Global Increases Dividend

The business 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 of this dividend is Friday, December 20th. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. This represents a $0.90 annualized dividend and a dividend yield of 1.29%. Carrier Global’s dividend payout ratio is currently 22.78%.

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