Romano Brothers AND Company Cuts Stake in Carrier Global Co. (NYSE:CARR)

Romano Brothers AND Company cut its stake in Carrier Global Co. (NYSE:CARR) by 4.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 17,087 shares of the company’s stock after selling 800 shares during the quarter. Romano Brothers AND Company’s holdings in Carrier Global were worth $1,166,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. State Street Corp grew its holdings in shares of Carrier Global by 1.4% during the third quarter. State Street Corp now owns 33,665,505 shares of the company’s stock worth $2,709,736,000 after buying an additional 469,108 shares in the last quarter. Geode Capital Management LLC boosted its position in Carrier Global by 1.7% during the third quarter. Geode Capital Management LLC now owns 16,937,689 shares of the company’s stock worth $1,357,961,000 after acquiring an additional 289,439 shares during the last quarter. Fisher Asset Management LLC grew its stake in Carrier Global by 1.9% during the 3rd quarter. Fisher Asset Management LLC now owns 14,267,109 shares of the company’s stock valued at $1,148,360,000 after acquiring an additional 269,538 shares in the last quarter. FMR LLC raised its holdings in Carrier Global by 36.2% in the 3rd quarter. FMR LLC now owns 8,729,073 shares of the company’s stock valued at $702,603,000 after acquiring an additional 2,320,909 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Carrier Global by 1.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,993,169 shares of the company’s stock worth $482,390,000 after purchasing an additional 110,988 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 equities research analysts have recently issued reports on the company. The Goldman Sachs Group assumed coverage on Carrier Global in a research report on Thursday, December 12th. They issued a “buy” rating and a $96.00 price target for the company. Northcoast Research began coverage on Carrier Global in a research note on Friday, November 22nd. They issued a “neutral” rating for the company. Citigroup reduced their price target on Carrier Global from $94.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Oppenheimer upped their price objective on shares of Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Finally, UBS Group raised shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 target price on the stock in a research note on Wednesday, November 13th. Eight equities research 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $83.93.

Carrier Global Price Performance

Shares of NYSE CARR opened at $69.74 on Friday. Carrier Global Co. has a 52-week low of $53.13 and a 52-week high of $83.32. The business’s 50 day moving average is $71.96 and its two-hundred day moving average is $72.18. The firm has a market cap of $62.57 billion, a price-to-earnings ratio of 17.66, a PEG ratio of 2.03 and a beta of 1.36. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69.

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 paid a dividend of $0.225 per share. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.90 annualized dividend and a yield of 1.29%. Carrier Global’s dividend payout ratio is presently 22.78%.

Carrier Global announced that its Board of Directors has initiated a share buyback program on Thursday, October 24th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 4.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

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.