Carrier Global Co. (NYSE:CARR) Shares Sold by Sanibel Captiva Trust Company Inc.

Sanibel Captiva Trust Company Inc. lessened its position in shares of Carrier Global Co. (NYSE:CARR) by 4.3% in the 4th quarter, HoldingsChannel reports. The fund owned 24,674 shares of the company’s stock after selling 1,105 shares during the period. Sanibel Captiva Trust Company Inc.’s holdings in Carrier Global were worth $1,684,000 as of its most recent SEC filing.

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

Carrier Global Stock Performance

NYSE:CARR opened at $69.74 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.08 and a quick ratio of 0.82. The firm has a market cap of $62.57 billion, a price-to-earnings ratio of 17.66, a price-to-earnings-growth ratio of 2.03 and a beta of 1.36. The firm’s fifty day moving average price is $71.96 and its 200 day moving average price is $72.18. Carrier Global Co. has a 1-year low of $53.13 and a 1-year high of $83.32.

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

Carrier Global Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, December 20th will be paid a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.29%. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Friday, December 20th. Carrier Global’s payout ratio is 22.78%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Stephens lowered their price target on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a report on Monday, October 28th. Royal Bank of Canada dropped their target price on shares of Carrier Global from $87.00 to $86.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. Northcoast Research assumed coverage on shares of Carrier Global in a research report on Friday, November 22nd. They issued a “neutral” rating for the company. JPMorgan Chase & Co. dropped their price objective on Carrier Global from $83.00 to $77.00 and set a “neutral” rating on the stock in a report on Wednesday. Finally, Wells Fargo & Company reduced 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. Eight equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average 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.