Cidel Asset Management Inc. Has $824,000 Position in Carrier Global Co. (NYSE:CARR)

Cidel Asset Management Inc. lessened its holdings in shares of Carrier Global Co. (NYSE:CARR) by 1.4% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 12,070 shares of the company’s stock after selling 166 shares during the period. Cidel Asset Management Inc.’s holdings in Carrier Global were worth $824,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Golden State Wealth Management LLC acquired a new position in shares of Carrier Global during the fourth quarter worth approximately $63,000. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Carrier Global by 9.2% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 91,514 shares of the company’s stock worth $6,247,000 after purchasing an additional 7,680 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Carrier Global by 0.9% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,879,036 shares of the company’s stock worth $128,263,000 after buying an additional 16,993 shares in the last quarter. Tandem Financial LLC bought a new position in Carrier Global in the 4th quarter valued at $852,000. Finally, Bleakley Financial Group LLC increased its stake in shares of Carrier Global by 11.4% in the 4th quarter. Bleakley Financial Group LLC now owns 52,372 shares of the company’s stock valued at $3,575,000 after buying an additional 5,368 shares during the period. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Carrier Global Trading Down 1.6 %

NYSE:CARR opened at $64.17 on Friday. The company has a market cap of $57.58 billion, a P/E ratio of 16.25, a price-to-earnings-growth ratio of 2.12 and a beta of 1.35. Carrier Global Co. has a twelve month low of $53.13 and a twelve month high of $83.32. The business has a 50 day moving average price of $69.45 and a two-hundred day moving average price of $72.35. 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 business also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, December 20th were issued a $0.225 dividend. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date was Friday, December 20th. This represents a $0.90 annualized dividend and a dividend yield of 1.40%. Carrier Global’s dividend payout ratio (DPR) is presently 22.78%.

Carrier Global declared that its Board of Directors has approved a stock repurchase plan on Thursday, October 24th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the company to purchase up to 4.6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Citigroup cut their price target on Carrier Global from $94.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Wells Fargo & Company cut their target price on shares of 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. Royal Bank of Canada lowered their price target on shares of Carrier Global from $87.00 to $86.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. The Goldman Sachs Group assumed coverage on shares of Carrier Global in a report on Thursday, December 12th. They issued a “buy” rating and a $96.00 price objective on the stock. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Carrier Global from $83.00 to $77.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. 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 company. Based on data from MarketBeat.com, the company currently has a consensus 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.