Resonant Capital Advisors LLC Reduces Stock Holdings in Carrier Global Co. (NYSE:CARR)

Resonant Capital Advisors LLC lowered its stake in shares of Carrier Global Co. (NYSE:CARR) by 2.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,749 shares of the company’s stock after selling 286 shares during the period. Resonant Capital Advisors LLC’s holdings in Carrier Global were worth $668,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Catalina Capital Group LLC raised its position in shares of Carrier Global by 3.6% in the fourth quarter. Catalina Capital Group LLC now owns 4,929 shares of the company’s stock worth $336,000 after buying an additional 172 shares in the last quarter. Princeton Global Asset Management LLC grew its stake in shares of Carrier Global by 1,156.1% during the fourth quarter. Princeton Global Asset Management LLC now owns 20,663 shares of the company’s stock valued at $1,410,000 after buying an additional 19,018 shares during the last quarter. JB Capital LLC grew its stake in shares of Carrier Global by 0.3% during the fourth quarter. JB Capital LLC now owns 56,473 shares of the company’s stock valued at $3,855,000 after buying an additional 176 shares during the last quarter. FSM Wealth Advisors LLC grew its stake in shares of Carrier Global by 7.4% during the fourth quarter. FSM Wealth Advisors LLC now owns 6,847 shares of the company’s stock valued at $478,000 after buying an additional 474 shares during the last quarter. Finally, U.S. Capital Wealth Advisors LLC grew its stake in shares of Carrier Global by 1,791.4% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 110,911 shares of the company’s stock worth $7,571,000 after purchasing an additional 105,047 shares during the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Wall Street Analysts Forecast Growth

CARR has been the subject of several research analyst reports. The Goldman Sachs Group started coverage on shares of Carrier Global in a report on Thursday, December 12th. They issued a “buy” rating and a $96.00 price objective for the company. JPMorgan Chase & Co. cut their target price on shares of Carrier Global from $83.00 to $77.00 and set a “neutral” rating for the company in a research report on Wednesday, January 15th. Barclays cut 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. Stephens cut their price objective on shares of Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a research report on Monday, October 28th. Finally, Royal Bank of Canada lowered their target price on shares of Carrier Global from $87.00 to $86.00 and set an “outperform” rating on the stock in a research note on Friday, January 3rd. 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’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $83.93.

Carrier Global Price Performance

Shares of CARR stock opened at $63.00 on Tuesday. The company’s 50-day simple moving average is $70.51 and its two-hundred day simple moving average is $72.50. Carrier Global Co. has a one year low of $53.13 and a one year high of $83.32. The company has a market capitalization of $56.52 billion, a P/E ratio of 15.95, a P/E/G ratio of 2.12 and a beta of 1.36. 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 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 given a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 1.43%. 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. Carrier Global’s dividend payout ratio is presently 22.78%.

Carrier Global declared that its board has initiated a share buyback program on Thursday, October 24th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the company to buy up to 4.6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is 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.