Clear Harbor Asset Management LLC Lowers Position in Carrier Global Co. (NYSE:CARR)

Clear Harbor Asset Management LLC trimmed its position in shares of Carrier Global Co. (NYSE:CARR) by 5.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,949 shares of the company’s stock after selling 300 shares during the quarter. Clear Harbor Asset Management LLC’s holdings in Carrier Global were worth $338,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in CARR. FSM Wealth Advisors LLC boosted its holdings in Carrier Global by 2.2% during the third quarter. FSM Wealth Advisors LLC now owns 6,373 shares of the company’s stock worth $513,000 after purchasing an additional 136 shares during the last quarter. Meridian Wealth Management LLC boosted its stake in shares of Carrier Global by 2.3% in the 3rd quarter. Meridian Wealth Management LLC now owns 6,030 shares of the company’s stock worth $485,000 after buying an additional 137 shares during the last quarter. UMB Bank n.a. grew its holdings in shares of Carrier Global by 1.1% in the fourth quarter. UMB Bank n.a. now owns 13,293 shares of the company’s stock valued at $907,000 after acquiring an additional 143 shares in the last quarter. Essex Savings Bank increased its position in shares of Carrier Global by 2.2% during the third quarter. Essex Savings Bank now owns 6,608 shares of the company’s stock valued at $532,000 after acquiring an additional 144 shares during the last quarter. Finally, Boston Financial Mangement LLC lifted its holdings in Carrier Global by 1.7% during the third quarter. Boston Financial Mangement LLC now owns 9,208 shares of the company’s stock worth $741,000 after acquiring an additional 150 shares during the period. Institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Performance

NYSE:CARR opened at $70.61 on Wednesday. Carrier Global Co. has a 52-week low of $53.13 and a 52-week high of $83.32. The business’s fifty day moving average is $71.83 and its 200 day moving average is $72.35. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 1.08. The firm has a market cap of $63.35 billion, a price-to-earnings ratio of 17.88, a PEG ratio of 2.24 and a beta of 1.36.

Carrier Global announced that its board has authorized a share buyback program on Thursday, October 24th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 4.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

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 issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.27%. This is an increase from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Friday, December 20th. Carrier Global’s dividend payout ratio is presently 22.78%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CARR shares. Robert W. Baird decreased their target price on Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Barclays decreased their price objective on shares of Carrier Global from $92.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. UBS Group raised shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price objective on the stock in a research report on Wednesday, November 13th. Oppenheimer increased their target price on shares of Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Finally, Wells Fargo & Company lowered their price target on shares of Carrier Global from $80.00 to $75.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Eight analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average 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.