Dakota Wealth Management Acquires 3,478 Shares of Carrier Global Co. (NYSE:CARR)

Dakota Wealth Management boosted its holdings in Carrier Global Co. (NYSE:CARR) by 18.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,235 shares of the company’s stock after buying an additional 3,478 shares during the period. Dakota Wealth Management’s holdings in Carrier Global were worth $1,518,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in CARR. FMR LLC increased its position in shares of Carrier Global by 36.2% during the third quarter. FMR LLC now owns 8,729,073 shares of the company’s stock valued at $702,603,000 after purchasing an additional 2,320,909 shares during the period. Zurich Insurance Group Ltd FI bought a new stake in shares of Carrier Global during the third quarter valued at approximately $130,479,000. Point72 Asset Management L.P. bought a new stake in shares of Carrier Global during the second quarter valued at approximately $58,415,000. Mizuho Securities USA LLC increased its position in shares of Carrier Global by 1,428.4% during the third quarter. Mizuho Securities USA LLC now owns 987,500 shares of the company’s stock valued at $79,484,000 after purchasing an additional 922,892 shares during the period. Finally, International Assets Investment Management LLC increased its position in shares of Carrier Global by 8,797.3% during the third quarter. International Assets Investment Management LLC now owns 907,258 shares of the company’s stock valued at $730,250,000 after purchasing an additional 897,061 shares during the period. 91.00% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Northcoast Research assumed coverage on Carrier Global in a research report on Friday, November 22nd. They issued a “neutral” rating on the stock. 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. Wells Fargo & Company lowered their price target on Carrier Global from $80.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Citigroup lowered their price target 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. Finally, Barclays reduced their price objective on Carrier Global from $92.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Eight investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $83.93.

Carrier Global Trading Down 0.4 %

NYSE CARR opened at $69.77 on Friday. The stock has a 50-day simple moving average of $71.61 and a 200 day simple moving average of $72.39. The company has a market capitalization of $62.60 billion, a PE ratio of 17.66, a P/E/G ratio of 2.27 and a beta of 1.36. 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 Co. has a 12 month low of $53.13 and a 12 month high of $83.32.

Carrier Global Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, December 20th will be given a dividend of $0.225 per share. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.90 dividend on an annualized basis 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 dividend payout ratio (DPR) is currently 22.78%.

Carrier Global announced that its board has approved 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 reacquire up to 4.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

About Carrier Global

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.