Family Capital Trust Co Decreases Stock Position in Carrier Global Co. (NYSE:CARR)

Family Capital Trust Co cut its stake in Carrier Global Co. (NYSE:CARR) by 6.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 69,155 shares of the company’s stock after selling 4,761 shares during the period. Carrier Global comprises about 1.6% of Family Capital Trust Co’s holdings, making the stock its 19th largest holding. Family Capital Trust Co’s holdings in Carrier Global were worth $4,720,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FMR LLC raised its stake in Carrier Global by 36.2% in the third quarter. FMR LLC now owns 8,729,073 shares of the company’s stock valued at $702,603,000 after buying an additional 2,320,909 shares in the last quarter. Zurich Insurance Group Ltd FI acquired a new stake in Carrier Global in the third quarter valued at $130,479,000. Mizuho Securities USA LLC raised its stake in Carrier Global by 1,428.4% in the third quarter. Mizuho Securities USA LLC now owns 987,500 shares of the company’s stock valued at $79,484,000 after buying an additional 922,892 shares in the last quarter. International Assets Investment Management LLC raised its stake in Carrier Global by 8,797.3% in the third quarter. International Assets Investment Management LLC now owns 907,258 shares of the company’s stock valued at $730,250,000 after buying an additional 897,061 shares in the last quarter. Finally, State Street Corp raised its stake in Carrier Global by 1.4% in the third quarter. State Street Corp now owns 33,665,505 shares of the company’s stock valued at $2,709,736,000 after buying an additional 469,108 shares in the last quarter. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on CARR shares. Northcoast Research started coverage on Carrier Global in a research note on Friday, November 22nd. They issued a “neutral” rating on the stock. Stephens cut their target price on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Monday, October 28th. Mizuho lifted their target price on 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 Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 target price on the stock in a research report on Wednesday, November 13th. Finally, The Goldman Sachs Group assumed coverage on Carrier Global in a research report on Thursday, December 12th. They set a “buy” rating and a $96.00 target price on the stock. Eight equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Carrier Global has a consensus rating of “Moderate Buy” and a consensus price target of $83.93.

Carrier Global Price Performance

Shares of CARR opened at $64.17 on Friday. Carrier Global Co. has a twelve month low of $53.13 and a twelve month high of $83.32. The stock’s 50 day moving average is $69.19 and its two-hundred day moving average is $72.33. The firm has a market capitalization of $57.58 billion, a PE ratio of 16.25, a P/E/G ratio of 2.11 and a beta of 1.35. 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 announced that its Board of Directors has authorized a share buyback plan on Thursday, October 24th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 4.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Carrier Global Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, December 20th were issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date was Friday, December 20th. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s payout ratio is currently 22.78%.

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.