Empirical Finance LLC Sells 353 Shares of Carrier Global Co. (NYSE:CARR)

Empirical Finance LLC reduced its holdings in Carrier Global Co. (NYSE:CARR) by 1.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 28,476 shares of the company’s stock after selling 353 shares during the period. Empirical Finance LLC’s holdings in Carrier Global were worth $1,944,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. FSA Wealth Management LLC bought a new stake in shares of Carrier Global in the third quarter valued at about $28,000. McClarren Financial Advisors Inc. raised its holdings in Carrier Global by 246.0% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock valued at $35,000 after acquiring an additional 310 shares in the last quarter. Coastline Trust Co acquired a new stake in shares of Carrier Global during the 3rd quarter worth approximately $37,000. Capital Performance Advisors LLP acquired a new stake in shares of Carrier Global during the 3rd quarter worth approximately $44,000. Finally, Ashton Thomas Securities LLC bought a new stake in shares of Carrier Global during the third quarter valued at approximately $50,000. 91.00% of the stock is owned by institutional investors.

Carrier Global Stock Performance

Carrier Global stock opened at $64.17 on Monday. The stock has a 50-day simple moving average of $69.19 and a 200 day simple moving average of $72.36. The stock has a market capitalization of $57.58 billion, a price-to-earnings ratio of 16.25, a P/E/G ratio of 2.11 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 12-month low of $53.13 and a 12-month high of $83.32.

Carrier Global announced that its Board of Directors has authorized a share repurchase plan 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 plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Carrier Global Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, December 20th were given a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.40%. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date was Friday, December 20th. Carrier Global’s dividend payout ratio is presently 22.78%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CARR. The Goldman Sachs Group initiated coverage on shares of Carrier Global in a research note on Thursday, December 12th. They set a “buy” rating and a $96.00 price target on the stock. Barclays decreased their target price on shares of Carrier Global from $92.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Mizuho increased their price target on shares of Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Northcoast Research assumed coverage on Carrier Global in a report on Friday, November 22nd. They set a “neutral” rating on the stock. Finally, Robert W. Baird dropped their target price on Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Eight equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Carrier Global has an average rating of “Moderate Buy” and an average target price of $83.93.

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.