E. Ohman J or Asset Management AB Boosts Position in Carrier Global Co. (NYSE:CARR)

E. Ohman J or Asset Management AB lifted its holdings in shares of Carrier Global Co. (NYSE:CARR) by 13.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 36,200 shares of the company’s stock after purchasing an additional 4,400 shares during the period. E. Ohman J or Asset Management AB’s holdings in Carrier Global were worth $2,471,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. FSA Wealth Management LLC bought a new position in Carrier Global in the 3rd quarter worth $28,000. McClarren Financial Advisors Inc. raised its stake in Carrier Global by 246.0% in the third quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock worth $35,000 after buying an additional 310 shares in the last quarter. Coastline Trust Co bought a new position in Carrier Global in the third quarter worth about $37,000. Country Trust Bank bought a new stake in Carrier Global during the 3rd quarter valued at approximately $40,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Carrier Global during the 3rd quarter worth approximately $44,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Performance

CARR stock opened at $63.91 on Wednesday. The stock has a market capitalization of $57.34 billion, a PE ratio of 16.18, a price-to-earnings-growth ratio of 2.12 and a beta of 1.35. The stock’s 50 day simple moving average is $70.19 and its 200 day simple moving average is $72.48. 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 Increases Dividend

The firm 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. This represents a $0.90 annualized dividend and a yield of 1.41%. This is an increase from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Friday, December 20th. Carrier Global’s dividend payout ratio (DPR) is presently 22.78%.

Carrier Global declared that its board has initiated a stock buyback plan on Thursday, October 24th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 4.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

CARR has been the subject of a number of research analyst reports. Stephens lowered their target price on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a research note on Monday, October 28th. Robert W. Baird lowered their price objective on Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Barclays reduced their target price on shares of Carrier Global from $92.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Mizuho lifted their price target on shares of Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Carrier Global from $83.00 to $77.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. Eight equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Carrier Global presently has an average rating of “Moderate Buy” and an average price target of $83.93.

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.