Hager Investment Management Services LLC Buys New Stake in Carrier Global Co. (NYSE:CARR)

Hager Investment Management Services LLC bought a new stake in shares of Carrier Global Co. (NYSE:CARR) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 12,882 shares of the company’s stock, valued at approximately $879,000.

Several other hedge funds and other institutional investors have also made changes to their positions in CARR. FSA Wealth Management LLC purchased a new stake in Carrier Global during the 3rd quarter worth $28,000. McClarren Financial Advisors Inc. increased its position in shares of Carrier Global by 246.0% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock worth $35,000 after purchasing an additional 310 shares during the last quarter. Coastline Trust Co bought a new stake in shares of Carrier Global in the 3rd quarter worth about $37,000. Country Trust Bank bought a new stake in shares of Carrier Global in the 3rd quarter worth about $40,000. Finally, Capital Performance Advisors LLP bought a new stake in shares of Carrier Global in the 3rd quarter worth about $44,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Price Performance

Shares of Carrier Global stock opened at $63.91 on Wednesday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.08 and a quick ratio of 0.82. Carrier Global Co. has a fifty-two week low of $53.13 and a fifty-two week high of $83.32. The firm has a fifty day moving average price of $70.19 and a two-hundred day moving average price of $72.48. The company has a market cap of $57.34 billion, a PE ratio of 16.18, a price-to-earnings-growth ratio of 2.12 and a beta of 1.35.

Carrier Global Increases Dividend

The company 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 dividend of $0.225 per share. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.41%. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s dividend payout ratio (DPR) is 22.78%.

Carrier Global declared that its board has authorized a stock repurchase program on Thursday, October 24th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 4.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Carrier Global in a research report on Thursday, December 12th. They set a “buy” rating and a $96.00 price objective for the company. Barclays reduced their target price on shares of Carrier Global from $92.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. JPMorgan Chase & Co. reduced their target price on shares of Carrier Global from $83.00 to $77.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. Citigroup reduced their target price on shares of Carrier Global from $94.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Finally, Bank of America boosted their target price on shares of Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Eight research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Carrier Global presently has an average rating of “Moderate Buy” and a consensus price target of $83.93.

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.