Carrier Global Co. (NYSE:CARR) Shares Sold by Groesbeck Investment Management Corp NJ

Groesbeck Investment Management Corp NJ trimmed its holdings in Carrier Global Co. (NYSE:CARR) by 35.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,299 shares of the company’s stock after selling 4,000 shares during the period. Groesbeck Investment Management Corp NJ’s holdings in Carrier Global were worth $498,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in CARR. FMR LLC grew its stake in Carrier Global by 36.2% in the 3rd quarter. FMR LLC now owns 8,729,073 shares of the company’s stock valued at $702,603,000 after acquiring an additional 2,320,909 shares during the last quarter. Zurich Insurance Group Ltd FI acquired a new stake in Carrier Global in the 3rd quarter valued at about $130,479,000. Mizuho Securities USA LLC grew its stake in Carrier Global by 1,428.4% in the 3rd 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 during the last quarter. International Assets Investment Management LLC grew 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 valued at $730,250,000 after acquiring an additional 897,061 shares during the last quarter. Finally, State Street Corp grew its stake in Carrier Global by 1.4% in the 3rd quarter. State Street Corp now owns 33,665,505 shares of the company’s stock valued at $2,709,736,000 after acquiring an additional 469,108 shares during the last quarter. 91.00% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on CARR shares. Royal Bank of Canada decreased their price target 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. Wells Fargo & Company lowered their price target on shares of Carrier Global from $80.00 to $75.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Barclays lowered their price target 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. Stephens lowered their price target on shares of Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a report on Monday, October 28th. Finally, Citigroup lowered 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. Eight investment 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, Carrier Global presently has an average rating of “Moderate Buy” and an average target price of $83.93.

Carrier Global Trading Up 1.2 %

Shares of CARR stock opened at $63.91 on Wednesday. The stock has a market cap of $57.34 billion, a price-to-earnings ratio of 16.18, a price-to-earnings-growth ratio of 2.12 and a beta of 1.35. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69. Carrier Global Co. has a fifty-two week low of $53.13 and a fifty-two week high of $83.32. The firm’s 50 day moving average price is $70.19 and its two-hundred day moving average price is $72.48.

Carrier Global Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, December 20th will be given a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 1.41%. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Friday, December 20th. Carrier Global’s payout ratio is 22.78%.

Carrier Global declared that its Board of Directors has authorized a share repurchase plan on Thursday, October 24th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 4.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

About Carrier Global

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.