Carrier Global Co. (NYSE:CARR) Shares Sold by Blue Trust Inc.

Blue Trust Inc. reduced its stake in shares of Carrier Global Co. (NYSE:CARR) by 41.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 3,475 shares of the company’s stock after selling 2,483 shares during the quarter. Blue Trust Inc.’s holdings in Carrier Global were worth $237,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CARR. Kanawha Capital Management LLC lifted its stake in Carrier Global by 1.1% in the 4th quarter. Kanawha Capital Management LLC now owns 135,995 shares of the company’s stock worth $9,283,000 after purchasing an additional 1,515 shares in the last quarter. V Square Quantitative Management LLC increased its holdings in Carrier Global by 2.0% in the 4th quarter. V Square Quantitative Management LLC now owns 17,635 shares of the company’s stock valued at $1,204,000 after purchasing an additional 346 shares during the last quarter. Catalyst Financial Partners LLC increased its holdings in Carrier Global by 6.0% in the 4th quarter. Catalyst Financial Partners LLC now owns 3,698 shares of the company’s stock valued at $252,000 after purchasing an additional 210 shares during the last quarter. Asset Management One Co. Ltd. increased its holdings in Carrier Global by 1.9% in the 4th quarter. Asset Management One Co. Ltd. now owns 475,850 shares of the company’s stock valued at $32,786,000 after purchasing an additional 8,746 shares during the last quarter. Finally, TFC Financial Management Inc. increased its holdings in Carrier Global by 11.0% in the 4th quarter. TFC Financial Management Inc. now owns 4,330 shares of the company’s stock valued at $296,000 after purchasing an additional 428 shares during the last quarter. 91.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Mizuho upgraded shares of Carrier Global from a “neutral” rating to an “outperform” rating and set a $78.00 price target for the company in a research note on Friday, February 14th. Citigroup reduced their price target on shares of Carrier Global from $94.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Robert W. Baird cut their price target on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Northcoast Research started coverage on shares of Carrier Global in a research report on Friday, November 22nd. They set a “neutral” rating on the stock. Finally, Barclays lowered their price target on shares of Carrier Global from $90.00 to $87.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 12th. Seven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Carrier Global has an average rating of “Moderate Buy” and a consensus target price of $82.64.

Carrier Global Trading Down 0.9 %

NYSE:CARR opened at $66.02 on Thursday. Carrier Global Co. has a 1-year low of $53.13 and a 1-year high of $83.32. The business’s 50-day moving average price is $67.73 and its two-hundred day moving average price is $72.29. 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 market capitalization of $57.33 billion, a price-to-earnings ratio of 10.51, a PEG ratio of 1.90 and a beta of 1.35.

Carrier Global (NYSE:CARR) last released its quarterly earnings results on Tuesday, February 11th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.03. Carrier Global had a return on equity of 18.82% and a net margin of 23.83%. During the same quarter last year, the company earned $0.53 EPS. On average, equities analysts expect that Carrier Global Co. will post 2.98 earnings per share for the current year.

Carrier Global Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, December 20th were paid a dividend of $0.225 per share. This is an increase from Carrier Global’s previous quarterly dividend of $0.19. This represents a $0.90 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend was Friday, December 20th. Carrier Global’s payout ratio is currently 14.33%.

Carrier Global announced that its board has authorized a stock buyback program on Thursday, October 24th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the company to purchase up to 4.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is 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.