Pines Wealth Management LLC Makes New Investment in Carrier Global Co. (NYSE:CARR)

Pines Wealth Management LLC bought a new position in shares of Carrier Global Co. (NYSE:CARR) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 3,418 shares of the company’s stock, valued at approximately $227,000.

A number of other institutional investors and hedge funds also recently modified their holdings of CARR. FSA Wealth Management LLC acquired a new position in Carrier Global during the third quarter valued at approximately $28,000. McClarren Financial Advisors Inc. grew its holdings in shares of Carrier Global by 246.0% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock valued at $35,000 after buying an additional 310 shares during the period. Coastline Trust Co bought a new stake in shares of Carrier Global in the 3rd quarter valued at $37,000. Country Trust Bank acquired a new stake in Carrier Global during the 3rd quarter worth $40,000. Finally, Capital Performance Advisors LLP bought a new position in Carrier Global during the third quarter worth about $44,000. 91.00% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Wells Fargo & Company cut their price objective on Carrier Global from $80.00 to $75.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. UBS Group upgraded shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price target for the company in a report on Wednesday, November 13th. Barclays dropped their price objective on shares of Carrier Global from $92.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Mizuho upped their target price on shares of Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Finally, Bank of America increased their target price on Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Eight analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $83.93.

Carrier Global Stock Up 0.8 %

CARR stock opened at $68.93 on Thursday. The company has a market cap of $61.85 billion, a price-to-earnings ratio of 17.45, a P/E/G ratio of 2.73 and a beta of 1.36. 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 $72.34 and a two-hundred day moving average price of $72.17. 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 announced that its Board of Directors has approved a share repurchase plan on Thursday, October 24th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the company to buy up to 4.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Carrier Global Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, December 20th will be paid a $0.225 dividend. The ex-dividend date is Friday, December 20th. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. This represents a $0.90 annualized dividend and a dividend yield of 1.31%. Carrier Global’s dividend payout ratio (DPR) is currently 22.78%.

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.