3,498 Shares in Carrier Global Co. (NYSE:CARR) Purchased by Advisory Alpha LLC

Advisory Alpha LLC acquired a new position in shares of Carrier Global Co. (NYSE:CARR) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,498 shares of the company’s stock, valued at approximately $239,000.

A number of other institutional investors have also added to or reduced their stakes in CARR. Dakota Wealth Management raised its holdings in shares of Carrier Global by 18.5% in the 4th quarter. Dakota Wealth Management now owns 22,235 shares of the company’s stock valued at $1,518,000 after acquiring an additional 3,478 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Carrier Global by 0.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 242,675 shares of the company’s stock valued at $16,620,000 after acquiring an additional 1,222 shares in the last quarter. Simon Quick Advisors LLC raised its holdings in shares of Carrier Global by 5.4% in the 4th quarter. Simon Quick Advisors LLC now owns 3,235 shares of the company’s stock valued at $221,000 after acquiring an additional 167 shares in the last quarter. Ballentine Partners LLC raised its holdings in shares of Carrier Global by 5.5% in the 4th quarter. Ballentine Partners LLC now owns 16,162 shares of the company’s stock valued at $1,103,000 after acquiring an additional 836 shares in the last quarter. Finally, Pure Financial Advisors LLC raised its holdings in shares of Carrier Global by 10.1% in the 4th quarter. Pure Financial Advisors LLC now owns 4,652 shares of the company’s stock valued at $318,000 after acquiring an additional 425 shares in the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Down 0.4 %

Carrier Global stock opened at $69.77 on Friday. The firm has a market cap of $62.60 billion, a price-to-earnings ratio of 17.66, a PEG ratio of 2.27 and a beta of 1.36. The stock has a fifty day simple moving average of $71.61 and a two-hundred day simple moving average of $72.39. Carrier Global Co. has a 12 month low of $53.13 and a 12 month high of $83.32. 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 approved a stock buyback program on Thursday, October 24th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the company to reacquire up to 4.6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Carrier Global Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, December 20th will be issued a $0.225 dividend. The ex-dividend date is Friday, December 20th. This represents a $0.90 annualized dividend and a dividend yield of 1.29%. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s payout ratio is presently 22.78%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Citigroup reduced their price objective on Carrier Global from $94.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Bank of America raised their price target on Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. UBS Group upgraded Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price target on the stock in a research report on Wednesday, November 13th. The Goldman Sachs Group started coverage on Carrier Global in a research report on Thursday, December 12th. They set a “buy” rating and a $96.00 price target on the stock. Finally, Stephens cut their price objective 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. Eight research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $83.93.

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.