Kraematon Investment Advisors Inc. Cuts Stock Holdings in Carrier Global Co. (NYSE:CARR)

Kraematon Investment Advisors Inc. reduced its position in Carrier Global Co. (NYSE:CARR) by 1.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 17,918 shares of the company’s stock after selling 205 shares during the quarter. Carrier Global makes up approximately 1.2% of Kraematon Investment Advisors Inc.’s investment portfolio, making the stock its 29th biggest position. Kraematon Investment Advisors Inc.’s holdings in Carrier Global were worth $1,223,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sawyer & Company Inc grew its holdings in Carrier Global by 2,359.0% during the 4th quarter. Sawyer & Company Inc now owns 1,500 shares of the company’s stock valued at $102,000 after purchasing an additional 1,439 shares in the last quarter. Brendel Financial Advisors LLC lifted its position in shares of Carrier Global by 8.1% during the fourth quarter. Brendel Financial Advisors LLC now owns 16,641 shares of the company’s stock worth $1,136,000 after purchasing an additional 1,247 shares during the last quarter. Avity Investment Management Inc. grew its stake in Carrier Global by 27.5% in the fourth quarter. Avity Investment Management Inc. now owns 307,003 shares of the company’s stock worth $20,956,000 after purchasing an additional 66,204 shares in the last quarter. Clarus Wealth Advisors raised its stake in Carrier Global by 32.0% during the fourth quarter. Clarus Wealth Advisors now owns 12,213 shares of the company’s stock valued at $820,000 after buying an additional 2,961 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its holdings in Carrier Global by 34.6% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,584 shares of the company’s stock worth $108,000 after buying an additional 407 shares during the last quarter. 91.00% of the stock is owned by institutional investors and hedge funds.

Carrier Global Price Performance

Shares of Carrier Global stock opened at $69.72 on Friday. The company’s 50-day moving average price is $72.21 and its two-hundred day moving average price is $72.14. The stock has a market cap of $62.56 billion, a PE ratio of 17.65, a price-to-earnings-growth ratio of 2.03 and a beta of 1.36. 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 Co. has a 52 week low of $53.13 and a 52 week high of $83.32.

Carrier Global Increases Dividend

The firm also recently declared 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 is a positive change from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date is Friday, December 20th. This represents a $0.90 annualized dividend and a yield of 1.29%. Carrier Global’s payout ratio is 22.78%.

Carrier Global announced that its board has authorized a stock repurchase program on Thursday, October 24th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 4.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Wells Fargo & Company dropped their price target on 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. 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. UBS Group raised shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price objective for the company in a research report on Wednesday, November 13th. The Goldman Sachs Group began 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. Finally, Northcoast Research initiated coverage on Carrier Global in a report on Friday, November 22nd. They set a “neutral” rating for the company. Eight research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $83.93.

About Carrier Global

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.