VCI Wealth Management LLC Buys 4,966 Shares of Carrier Global Co. (NYSE:CARR)

VCI Wealth Management LLC increased its stake in shares of Carrier Global Co. (NYSE:CARRFree Report) by 27.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,207 shares of the company’s stock after purchasing an additional 4,966 shares during the quarter. VCI Wealth Management LLC’s holdings in Carrier Global were worth $1,584,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. FSA Wealth Management LLC bought a new position in Carrier Global in the third quarter valued at approximately $28,000. McClarren Financial Advisors Inc. boosted its stake in Carrier Global by 246.0% in the third quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock valued at $35,000 after acquiring an additional 310 shares during the last quarter. Coastline Trust Co bought a new position in Carrier Global in the third quarter valued at approximately $37,000. Country Trust Bank bought a new position in Carrier Global in the third quarter valued at approximately $40,000. Finally, Capital Performance Advisors LLP bought a new position in Carrier Global in the third quarter valued at approximately $44,000. 91.00% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CARR has been the topic of several analyst reports. The Goldman Sachs Group initiated coverage on shares of Carrier Global in a report on Thursday, December 12th. They issued a “buy” rating and a $96.00 target price on the stock. Bank of America increased their target price on shares of Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Robert W. Baird cut their target price on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Citigroup cut their target price on shares of Carrier Global from $94.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Finally, Northcoast Research initiated coverage on shares of Carrier Global in a report on Friday, November 22nd. They issued a “neutral” rating on the stock. Eight analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $83.93.

Get Our Latest Stock Analysis on Carrier Global

Carrier Global Stock Down 3.9 %

Carrier Global stock opened at $67.36 on Tuesday. The company has a market cap of $60.44 billion, a P/E ratio of 17.05, a price-to-earnings-growth ratio of 2.26 and a beta of 1.36. Carrier Global Co. has a 1-year low of $53.13 and a 1-year high of $83.32. The company has a fifty day simple moving average of $71.28 and a 200 day simple moving average of $72.56. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69.

Carrier Global declared that its board has authorized a share repurchase plan on Thursday, October 24th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the company to reacquire up to 4.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management 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. Investors of record on Friday, December 20th will be given a $0.225 dividend. The ex-dividend date is Friday, December 20th. This represents a $0.90 dividend on an annualized basis and a yield of 1.34%. This is an increase from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s dividend payout ratio (DPR) is 22.78%.

Carrier Global Company Profile

(Free Report)

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.

Featured Stories

Institutional Ownership by Quarter for Carrier Global (NYSE:CARR)

Receive News & Ratings for Carrier Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Carrier Global and related companies with MarketBeat.com's FREE daily email newsletter.