Davidson Trust Co. Has $259,000 Stake in Carrier Global Co. (NYSE:CARR)

Davidson Trust Co. reduced its holdings in Carrier Global Co. (NYSE:CARR) by 7.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,799 shares of the company’s stock after selling 314 shares during the period. Davidson Trust Co.’s holdings in Carrier Global were worth $259,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. FSA Wealth Management LLC acquired a new stake in shares of Carrier Global in the 3rd quarter valued at approximately $28,000. McClarren Financial Advisors Inc. raised its holdings in Carrier Global by 246.0% in 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 bought a new position in shares of Carrier Global during the third quarter worth $37,000. Capital Performance Advisors LLP acquired a new position in shares of Carrier Global in the 3rd quarter valued at $44,000. Finally, Roxbury Financial LLC bought a new stake in shares of Carrier Global in the 4th quarter valued at $49,000. 91.00% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on CARR. Robert W. Baird reduced their target price on Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Royal Bank of Canada cut their price objective on Carrier Global from $86.00 to $76.00 and set an “outperform” rating on the stock in a report on Wednesday, February 12th. Mizuho raised Carrier Global from a “neutral” rating to an “outperform” rating and set a $78.00 target price for the company in a research note on Friday. UBS Group raised shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price target on the stock in a research note on Wednesday, November 13th. Finally, Stephens lowered 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. Seven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.64.

Carrier Global Price Performance

Shares of NYSE CARR opened at $65.19 on Tuesday. Carrier Global Co. has a fifty-two week low of $53.13 and a fifty-two week high of $83.32. The stock has a market capitalization of $58.49 billion, a price-to-earnings ratio of 16.50, a PEG ratio of 2.11 and a beta of 1.35. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.08 and a quick ratio of 0.82. The business has a 50-day moving average of $68.01 and a 200-day moving average of $72.32.

Carrier Global (NYSE:CARR) last posted its quarterly earnings results on Tuesday, February 11th. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03. Carrier Global had a return on equity of 20.52% and a net margin of 14.98%. During the same period in the prior year, the business earned $0.53 earnings per share. As a group, sell-side analysts predict that Carrier Global Co. will post 2.52 earnings per share for the current fiscal year.

Carrier Global Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, December 20th were given a dividend of $0.225 per share. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. This represents a $0.90 annualized dividend and a yield of 1.38%. The ex-dividend date of this dividend was Friday, December 20th. Carrier Global’s dividend payout ratio is 22.78%.

Carrier Global declared that its Board of Directors has approved a share repurchase plan on Thursday, October 24th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the company to buy up to 4.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors 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.