Checchi Capital Advisers LLC Sells 356 Shares of Carrier Global Co. (NYSE:CARR)

Checchi Capital Advisers LLC cut its stake in Carrier Global Co. (NYSE:CARR) by 3.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,698 shares of the company’s stock after selling 356 shares during the period. Checchi Capital Advisers LLC’s holdings in Carrier Global were worth $594,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new position in shares of Carrier Global in the third quarter worth about $265,000. Nisa Investment Advisors LLC raised its stake in shares of Carrier Global by 1.4% during the third quarter. Nisa Investment Advisors LLC now owns 241,453 shares of the company’s stock worth $19,435,000 after buying an additional 3,440 shares during the last quarter. Old Port Advisors bought a new stake in shares of Carrier Global during the third quarter worth approximately $218,000. abrdn plc raised its stake in shares of Carrier Global by 1.2% during the third quarter. abrdn plc now owns 743,694 shares of the company’s stock worth $59,897,000 after buying an additional 8,534 shares during the last quarter. Finally, Boston Financial Mangement LLC raised its stake in shares of 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 buying an additional 150 shares during the last quarter. 91.00% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CARR shares. Barclays dropped their price target on shares of Carrier Global from $90.00 to $87.00 and set an “overweight” rating for the company in a research note on Wednesday, February 12th. The Goldman Sachs Group started 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 for the company. Northcoast Research began coverage on shares of Carrier Global in a research note on Friday, November 22nd. They set a “neutral” rating for the company. Royal Bank of Canada lowered their target price on shares of Carrier Global from $86.00 to $76.00 and set an “outperform” rating for the company in a research note on Wednesday, February 12th. Finally, JPMorgan Chase & Co. lowered 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 note on Wednesday, January 15th. Six research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $82.47.

Carrier Global Stock Performance

Shares of CARR opened at $66.10 on Thursday. Carrier Global Co. has a 12 month low of $53.33 and a 12 month high of $83.32. The firm has a fifty day simple moving average of $67.28 and a 200 day simple moving average of $72.38. The stock has a market capitalization of $57.40 billion, a price-to-earnings ratio of 10.53, a PEG ratio of 2.01 and a beta of 1.35. The company has a current ratio of 1.25, a quick ratio of 0.96 and a debt-to-equity ratio of 0.77.

Carrier Global (NYSE:CARR) last announced its quarterly earnings results on Tuesday, February 11th. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03. Carrier Global had a net margin of 23.83% and a return on equity of 18.82%. During the same period in the previous year, the company earned $0.53 earnings per share. Research analysts forecast that Carrier Global Co. will post 2.99 EPS for the current fiscal year.

Carrier Global Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, December 20th were given a $0.225 dividend. The ex-dividend date was Friday, December 20th. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. This represents a $0.90 annualized dividend and a dividend yield of 1.36%. Carrier Global’s dividend payout ratio is presently 14.33%.

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.