Carrier Global Co. (NYSE:CARR) Shares Purchased by MassMutual Private Wealth & Trust FSB

MassMutual Private Wealth & Trust FSB grew its position in shares of Carrier Global Co. (NYSE:CARR) by 21.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,034 shares of the company’s stock after acquiring an additional 899 shares during the quarter. MassMutual Private Wealth & Trust FSB’s holdings in Carrier Global were worth $344,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. FSA Wealth Management LLC acquired a new position in shares of Carrier Global during the third quarter worth about $28,000. McClarren Financial Advisors Inc. raised its holdings in shares of Carrier Global by 246.0% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock valued at $35,000 after buying an additional 310 shares during the period. Coastline Trust Co acquired a new position in Carrier Global during the 3rd quarter worth approximately $37,000. Country Trust Bank purchased a new position in Carrier Global in the 3rd quarter worth approximately $40,000. Finally, Capital Performance Advisors LLP acquired a new stake in Carrier Global in the third quarter valued at approximately $44,000. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Oppenheimer upped their target price on shares of Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Mizuho raised 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. Royal Bank of Canada decreased their price objective on shares of Carrier Global from $87.00 to $86.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Wells Fargo & Company reduced 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 report on Tuesday, January 7th. Finally, UBS Group raised Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price objective for the company in a report on Wednesday, November 13th. Eight 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, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $83.93.

Carrier Global Trading Down 0.8 %

Shares of NYSE:CARR opened at $70.01 on Thursday. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69. The company’s 50-day moving average price is $71.74 and its 200 day moving average price is $72.40. The company has a market cap of $62.81 billion, a PE ratio of 17.72, a P/E/G ratio of 2.24 and a beta of 1.36. Carrier Global Co. has a fifty-two week low of $53.13 and a fifty-two week high of $83.32.

Carrier Global announced that its Board of Directors has authorized a stock 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 buy up to 4.6% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Carrier Global Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, December 20th will be given a dividend of $0.225 per share. The ex-dividend date is Friday, December 20th. 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 1.29%. Carrier Global’s payout ratio is currently 22.78%.

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.