Carrier Global Co. (NYSE:CARR) Shares Sold by Farmers & Merchants Investments Inc.

Farmers & Merchants Investments Inc. decreased its position in Carrier Global Co. (NYSE:CARR) by 2.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,802 shares of the company’s stock after selling 696 shares during the quarter. Farmers & Merchants Investments Inc.’s holdings in Carrier Global were worth $1,966,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CARR. FSA Wealth Management LLC acquired a new position in Carrier Global in the third quarter valued at approximately $28,000. McClarren Financial Advisors Inc. lifted its holdings in shares of Carrier Global by 246.0% in the 3rd 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 last quarter. Coastline Trust Co acquired a new position in Carrier Global during the 3rd quarter valued at approximately $37,000. Capital Performance Advisors LLP bought a new position in Carrier Global during the 3rd quarter worth $44,000. Finally, Ashton Thomas Securities LLC acquired a new stake in Carrier Global in the third quarter worth $50,000. 91.00% of the stock is currently owned by institutional investors.

Carrier Global Stock Down 1.6 %

Shares of Carrier Global stock opened at $64.17 on Friday. 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. The firm has a market capitalization of $57.58 billion, a PE ratio of 16.25, a price-to-earnings-growth ratio of 2.11 and a beta of 1.35. The stock’s fifty day moving average is $69.19 and its 200-day moving average is $72.33.

Carrier Global declared that its board has approved a share repurchase program on Thursday, October 24th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the company to reacquire up to 4.6% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

Carrier Global Increases Dividend

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

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CARR shares. Citigroup reduced 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. The Goldman Sachs Group began coverage on shares of Carrier Global in a research note on Thursday, December 12th. They set a “buy” rating and a $96.00 target price for the company. Wells Fargo & Company dropped their price target on shares of Carrier Global from $80.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. Robert W. Baird reduced their price objective on Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Finally, Barclays decreased their price target on Carrier Global from $92.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Eight equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Carrier Global presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.93.

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.