Carrier Global Co. (NYSE:CARR) Stock Position Lessened by Canandaigua National Bank & Trust Co.

Canandaigua National Bank & Trust Co. lowered its stake in Carrier Global Co. (NYSE:CARR) by 1.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 58,536 shares of the company’s stock after selling 593 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in Carrier Global were worth $3,996,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. CWA Asset Management Group LLC lifted its holdings in Carrier Global by 24.0% in the 4th quarter. CWA Asset Management Group LLC now owns 4,185 shares of the company’s stock valued at $286,000 after acquiring an additional 811 shares during the last quarter. Nordea Investment Management AB boosted its holdings in Carrier Global by 10.3% during the fourth quarter. Nordea Investment Management AB now owns 67,949 shares of the company’s stock worth $4,656,000 after buying an additional 6,365 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Carrier Global by 2.5% during the fourth quarter. GAMMA Investing LLC now owns 14,820 shares of the company’s stock worth $1,012,000 after buying an additional 364 shares in the last quarter. Versant Capital Management Inc grew its position in Carrier Global by 141.5% in the fourth quarter. Versant Capital Management Inc now owns 1,181 shares of the company’s stock worth $81,000 after buying an additional 692 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of Carrier Global by 0.8% during the 3rd quarter. Principal Financial Group Inc. now owns 2,561,877 shares of the company’s stock valued at $206,206,000 after acquiring an additional 20,500 shares during the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Price Performance

CARR stock traded down $0.57 during midday trading on Monday, reaching $68.69. 3,509,770 shares of the company’s stock traded hands, compared to its average volume of 3,162,805. The company has a 50-day simple moving average of $73.14 and a two-hundred day simple moving average of $71.95. 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 1-year low of $53.13 and a 1-year high of $83.32. The company has a market cap of $61.63 billion, a price-to-earnings ratio of 17.39, a PEG ratio of 2.73 and a beta of 1.36.

Carrier Global Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, December 20th will be given a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 1.31%. The ex-dividend date is Friday, December 20th. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s dividend payout ratio (DPR) is presently 22.78%.

Carrier Global announced that its board has approved a stock buyback plan on Thursday, October 24th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 4.6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CARR. Royal Bank of Canada decreased their price target on Carrier Global from $87.00 to $86.00 and set an “outperform” rating for the company in a research report on Friday. Mizuho lifted their target price 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. UBS Group upgraded shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price target for the company in a research report on Wednesday, November 13th. Robert W. Baird lowered their price objective on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Finally, Oppenheimer increased their target price on Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Eight investment 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $83.43.

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.