Carrier Global Co. (NYSE:CARR) Stock Holdings Boosted by Angeles Wealth Management LLC

Angeles Wealth Management LLC lifted its position in Carrier Global Co. (NYSE:CARR) by 10.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,375 shares of the company’s stock after buying an additional 418 shares during the period. Angeles Wealth Management LLC’s holdings in Carrier Global were worth $299,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of CARR. FSA Wealth Management LLC bought a new stake in Carrier Global in the third quarter worth about $28,000. McClarren Financial Advisors Inc. raised its holdings 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 in the last quarter. Coastline Trust Co bought a new stake in shares of Carrier Global in the 3rd quarter worth approximately $37,000. Capital Performance Advisors LLP acquired a new stake in Carrier Global during the third quarter valued at approximately $44,000. Finally, Ashton Thomas Securities LLC bought a new stake in Carrier Global during the third quarter worth approximately $50,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Wall Street Analyst Weigh In

CARR has been the topic of several research reports. Mizuho upped their price target on Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Robert W. Baird reduced their target price on Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a report on Friday, October 25th. 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 note on Tuesday, January 7th. Stephens reduced their price objective on shares of Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a research note on Monday, October 28th. Finally, 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. Eight analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $83.93.

Carrier Global Trading Up 3.4 %

Carrier Global stock opened at $66.35 on Tuesday. Carrier Global Co. has a 12 month low of $53.13 and a 12 month high of $83.32. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69. The stock has a market cap of $59.53 billion, a P/E ratio of 16.80, a P/E/G ratio of 2.11 and a beta of 1.35. The company’s fifty day simple moving average is $69.19 and its 200-day simple moving average is $72.40.

Carrier Global Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, December 20th were paid a $0.225 dividend. The ex-dividend date of this dividend was Friday, December 20th. This represents a $0.90 dividend on an annualized basis and a yield of 1.36%. This is an increase from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s payout ratio is 22.78%.

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

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.