Colonial Trust Advisors Has $387,000 Position in Carrier Global Co. (NYSE:CARR)

Colonial Trust Advisors trimmed its position in shares of Carrier Global Co. (NYSE:CARR) by 11.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,673 shares of the company’s stock after selling 750 shares during the quarter. Colonial Trust Advisors’ holdings in Carrier Global were worth $387,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in CARR. Norges Bank acquired a new stake in Carrier Global in the fourth quarter valued at $588,029,000. Wealthfront Advisers LLC increased its stake in shares of Carrier Global by 5,840.1% in the fourth quarter. Wealthfront Advisers LLC now owns 5,000,000 shares of the company’s stock valued at $341,300,000 after buying an additional 4,915,826 shares during the period. Artisan Partners Limited Partnership bought a new position in shares of Carrier Global during the fourth quarter worth about $166,061,000. Raymond James Financial Inc. bought a new position in shares of Carrier Global during the fourth quarter worth about $108,433,000. Finally, Invesco Ltd. lifted its stake in shares of Carrier Global by 40.3% in the fourth quarter. Invesco Ltd. now owns 5,057,148 shares of the company’s stock worth $345,201,000 after acquiring an additional 1,453,247 shares during the period. 91.00% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Barclays dropped their price target on shares of Carrier Global from $87.00 to $83.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 26th. Royal Bank of Canada cut their price target on shares of Carrier Global from $86.00 to $76.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 12th. Wells Fargo & Company lowered their price objective on Carrier Global from $75.00 to $70.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 12th. Mizuho upgraded Carrier Global from a “neutral” rating to an “outperform” rating and set a $78.00 target price on the stock in a research report on Friday, February 14th. Finally, Wolfe Research raised Carrier Global from a “peer perform” rating to an “outperform” rating and set a $80.00 target price for the company in a research note on Monday, February 24th. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $81.33.

Carrier Global Stock Performance

Shares of CARR stock opened at $59.04 on Friday. The company has a current ratio of 1.25, a quick ratio of 0.96 and a debt-to-equity ratio of 0.77. The firm has a fifty day simple moving average of $64.36 and a two-hundred day simple moving average of $70.46. Carrier Global Co. has a 12 month low of $53.33 and a 12 month high of $83.32. The firm has a market capitalization of $51.01 billion, a PE ratio of 9.40, a price-to-earnings-growth ratio of 2.01 and a beta of 1.33.

Carrier Global (NYSE:CARR) last posted its earnings results on Tuesday, February 11th. The company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.03. Carrier Global had a net margin of 23.83% and a return on equity of 18.82%. During the same period last year, the firm posted $0.53 EPS. Analysts forecast that Carrier Global Co. will post 2.99 EPS for the current fiscal year.

Carrier Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Friday, May 2nd will be given a dividend of $0.225 per share. The ex-dividend date of this dividend is Friday, May 2nd. This represents a $0.90 annualized dividend and a dividend yield of 1.52%. Carrier Global’s payout ratio is 14.33%.

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.