Savant Capital LLC Reduces Position in Carrier Global Co. (NYSE:CARR)

Savant Capital LLC trimmed its holdings in shares of Carrier Global Co. (NYSE:CARR) by 9.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 45,501 shares of the company’s stock after selling 4,755 shares during the quarter. Savant Capital LLC’s holdings in Carrier Global were worth $3,106,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. FSA Wealth Management LLC purchased a new stake in shares of Carrier Global during the third quarter worth about $28,000. McClarren Financial Advisors Inc. increased its position in shares of Carrier Global by 246.0% during the third quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock worth $35,000 after acquiring an additional 310 shares during the last quarter. Coastline Trust Co purchased a new stake in shares of Carrier Global during the third quarter worth about $37,000. Capital Performance Advisors LLP purchased a new stake in shares of Carrier Global during the third quarter worth about $44,000. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of Carrier Global during the third quarter worth about $50,000. 91.00% of the stock is owned by hedge funds and other institutional investors.

Carrier Global Stock Down 1.4 %

Shares of Carrier Global stock opened at $65.31 on Wednesday. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69. The business’s 50 day simple moving average is $68.99 and its 200-day simple moving average is $72.41. The stock has a market capitalization of $58.60 billion, a price-to-earnings ratio of 16.53, a PEG ratio of 2.11 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.

Carrier Global (NYSE:CARR) last posted its earnings results on Tuesday, February 11th. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.51 by $0.03. Carrier Global had a return on equity of 20.52% and a net margin of 14.98%. During the same period in the previous year, the company posted $0.53 EPS. Equities research analysts forecast that Carrier Global Co. will post 2.52 earnings per share for the current year.

Carrier Global announced that its board has approved a stock repurchase plan on Thursday, October 24th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 4.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Carrier Global Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, December 20th were given a $0.225 dividend. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. This represents a $0.90 annualized dividend and a yield of 1.38%. The ex-dividend date was Friday, December 20th. Carrier Global’s dividend payout ratio (DPR) is currently 22.78%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on CARR shares. Bank of America boosted their price objective on Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Mizuho boosted their price objective on Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. JPMorgan Chase & Co. lowered their price objective on Carrier Global from $83.00 to $77.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. Barclays lowered their price objective on Carrier Global from $92.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Finally, UBS Group raised Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price objective for the company in a report on Wednesday, November 13th. Eight equities 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 data from MarketBeat.com, Carrier Global has a consensus rating of “Moderate Buy” and a consensus target price of $83.93.

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.