Steigerwald Gordon & Koch Inc. Sells 4,364 Shares of Carrier Global Co. (NYSE:CARR)

Steigerwald Gordon & Koch Inc. decreased its holdings in Carrier Global Co. (NYSE:CARR) by 1.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 305,715 shares of the company’s stock after selling 4,364 shares during the quarter. Carrier Global accounts for about 2.4% of Steigerwald Gordon & Koch Inc.’s portfolio, making the stock its 18th largest holding. Steigerwald Gordon & Koch Inc.’s holdings in Carrier Global were worth $20,868,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. FSA Wealth Management LLC acquired a new stake in shares of Carrier Global during the 3rd quarter worth $28,000. McClarren Financial Advisors Inc. lifted its position in Carrier Global by 246.0% during the third quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock worth $35,000 after purchasing an additional 310 shares during the period. Coastline Trust Co acquired a new stake in Carrier Global during the third quarter worth about $37,000. Country Trust Bank acquired a new stake in Carrier Global during the third quarter worth about $40,000. Finally, Capital Performance Advisors LLP bought a new position in Carrier Global in the 3rd quarter valued at about $44,000. Institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Performance

CARR opened at $69.74 on Friday. The company’s 50 day moving average price is $71.96 and its two-hundred day moving average price is $72.18. The firm has a market capitalization of $62.57 billion, a price-to-earnings ratio of 17.66, a PEG ratio of 2.03 and a beta of 1.36. Carrier Global Co. has a fifty-two week low of $53.13 and a fifty-two week high of $83.32. 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 announced that its board has approved a share repurchase plan on Thursday, October 24th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 4.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Carrier Global Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, December 20th will be paid a $0.225 dividend. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date is Friday, December 20th. This represents a $0.90 annualized dividend and a dividend yield of 1.29%. Carrier Global’s payout ratio is currently 22.78%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on CARR shares. Citigroup cut their price target on shares of Carrier Global from $94.00 to $90.00 and set a “buy” rating for the company in a report on Monday, January 13th. The Goldman Sachs Group assumed coverage on Carrier Global in a research note on Thursday, December 12th. They issued a “buy” rating and a $96.00 price target on the stock. Northcoast Research assumed coverage on Carrier Global in a report on Friday, November 22nd. They set a “neutral” rating for the company. Oppenheimer lifted their target price on Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Finally, Royal Bank of Canada lowered their target price on Carrier Global from $87.00 to $86.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Eight analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $83.93.

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.