Thomasville National Bank Trims Holdings in Carrier Global Co. (NYSE:CARR)

Thomasville National Bank cut its position in shares of Carrier Global Co. (NYSE:CARR) by 5.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,548 shares of the company’s stock after selling 273 shares during the quarter. Thomasville National Bank’s holdings in Carrier Global were worth $310,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Frank Rimerman Advisors LLC boosted its holdings in shares of Carrier Global by 54,708.0% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 13,702 shares of the company’s stock valued at $864,000 after purchasing an additional 13,677 shares during the last quarter. Cerity Partners LLC boosted its holdings in Carrier Global by 39.0% in the third quarter. Cerity Partners LLC now owns 136,821 shares of the company’s stock valued at $11,013,000 after acquiring an additional 38,365 shares during the last quarter. Daiwa Securities Group Inc. grew its position in Carrier Global by 12.3% during the third quarter. Daiwa Securities Group Inc. now owns 100,440 shares of the company’s stock valued at $8,084,000 after acquiring an additional 11,032 shares during the period. Sheaff Brock Investment Advisors LLC acquired a new stake in Carrier Global during the third quarter worth about $1,068,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Carrier Global in the 3rd quarter worth about $793,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Price Performance

Shares of NYSE CARR opened at $67.18 on Tuesday. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $60.28 billion, a price-to-earnings ratio of 17.01, a price-to-earnings-growth ratio of 2.73 and a beta of 1.36. Carrier Global Co. has a twelve month low of $53.13 and a twelve month high of $83.32. The business has a 50 day simple moving average of $72.45 and a 200-day simple moving average of $72.13.

Carrier Global announced that its Board of Directors has authorized a share repurchase plan on Thursday, October 24th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the company to buy up to 4.6% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Carrier Global Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, December 20th will be issued a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.34%. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date is Friday, December 20th. Carrier Global’s dividend payout ratio is 22.78%.

Analyst Ratings Changes

CARR has been the subject of a number of research reports. Wells Fargo & Company decreased their target price on Carrier Global from $80.00 to $75.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. The Goldman Sachs Group initiated coverage on shares of Carrier Global in a research report on Thursday, December 12th. They issued a “buy” rating and a $96.00 price objective for the company. Mizuho lifted their target price on shares of Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. UBS Group upgraded Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price target for the company in a report on Wednesday, November 13th. Finally, Bank of America boosted their price objective on Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Eight investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Carrier Global currently has an average rating of “Moderate Buy” and an average target price of $84.36.

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.