TFC Financial Management Inc. Purchases 428 Shares of Carrier Global Co. (NYSE:CARR)

TFC Financial Management Inc. grew its position in shares of Carrier Global Co. (NYSE:CARR) by 11.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,330 shares of the company’s stock after acquiring an additional 428 shares during the period. TFC Financial Management Inc.’s holdings in Carrier Global were worth $296,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of CARR. FMR LLC raised its stake 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 acquiring an additional 2,320,909 shares during the last quarter. Zurich Insurance Group Ltd FI bought a new position in Carrier Global in the third quarter worth about $130,479,000. Mizuho Securities USA LLC raised its stake in Carrier Global by 1,428.4% in the third quarter. Mizuho Securities USA LLC now owns 987,500 shares of the company’s stock worth $79,484,000 after buying an additional 922,892 shares in the last quarter. International Assets Investment Management LLC raised its stake in Carrier Global by 8,797.3% in the third quarter. International Assets Investment Management LLC now owns 907,258 shares of the company’s stock worth $730,250,000 after buying an additional 897,061 shares in the last quarter. Finally, State Street Corp raised its stake in Carrier Global by 1.4% in the third quarter. State Street Corp now owns 33,665,505 shares of the company’s stock worth $2,709,736,000 after buying an additional 469,108 shares in the last quarter. 91.00% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CARR has been the subject of a number of research reports. Bank of America increased their price target on shares of Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Citigroup decreased their price target on shares of Carrier Global from $94.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Royal Bank of Canada decreased their price target on shares of Carrier Global from $86.00 to $76.00 and set an “outperform” rating for the company in a research note on Wednesday. UBS Group raised shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 target price for the company in a research note on Wednesday, November 13th. Finally, Robert W. Baird decreased their target price on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. 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, the company presently has a consensus rating of “Moderate Buy” and an average target price of $82.64.

Carrier Global Stock Down 2.4 %

CARR opened at $63.60 on Thursday. 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 1-year low of $53.13 and a 1-year high of $83.32. The company has a market capitalization of $57.06 billion, a PE ratio of 16.10, a PEG ratio of 2.11 and a beta of 1.35. The firm’s 50 day simple moving average is $68.78 and its two-hundred day simple moving average is $72.40.

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

Carrier Global Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, December 20th were given a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 1.42%. This is an increase from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Friday, December 20th. Carrier Global’s dividend payout ratio (DPR) is presently 22.78%.

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

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.