Carrier Global Co. (NYSE:CARR) Holdings Raised by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC raised its holdings in shares of Carrier Global Co. (NYSE:CARR) by 4.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,980 shares of the company’s stock after purchasing an additional 805 shares during the period. Kestra Private Wealth Services LLC’s holdings in Carrier Global were worth $1,296,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CARR. FSA Wealth Management LLC acquired a new stake in Carrier Global during the third quarter worth about $28,000. McClarren Financial Advisors Inc. increased its position 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 during the period. Coastline Trust Co bought a new position in shares of Carrier Global during the third quarter worth about $37,000. Capital Performance Advisors LLP acquired a new stake in shares of Carrier Global in the 3rd quarter worth about $44,000. Finally, Ashton Thomas Securities LLC bought a new stake in Carrier Global in the 3rd quarter valued at about $50,000. 91.00% of the stock is currently owned by institutional investors.

Carrier Global Stock Performance

Shares of Carrier Global stock opened at $63.60 on Thursday. The stock has a market cap of $57.06 billion, a PE ratio of 16.10, a price-to-earnings-growth ratio of 2.11 and a beta of 1.35. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69. The business has a fifty day simple moving average of $68.78 and a 200-day simple moving average of $72.40. Carrier Global Co. has a 12 month low of $53.13 and a 12 month high of $83.32.

Carrier Global (NYSE:CARR) last announced its quarterly earnings results on Tuesday, February 11th. The company reported $0.54 earnings per share (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 quarter last year, the business posted $0.53 earnings per share. On average, sell-side analysts anticipate that Carrier Global Co. will post 2.52 EPS for the current fiscal year.

Carrier Global declared that its board has authorized a share buyback program on Thursday, October 24th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the company to buy up to 4.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Carrier Global Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, December 20th were given a dividend of $0.225 per share. The ex-dividend date was Friday, December 20th. This represents a $0.90 dividend on an annualized basis and a yield of 1.42%. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s dividend payout ratio is presently 22.78%.

Wall Street Analyst Weigh In

Several analysts recently commented on CARR shares. UBS Group upgraded Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 target price on the stock in a research report on Wednesday, November 13th. Citigroup reduced their price objective on shares of Carrier Global from $94.00 to $90.00 and set a “buy” rating for the company in a report on Monday, January 13th. Wells Fargo & Company lowered their target price on shares of Carrier Global from $75.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Mizuho increased their price objective on shares of Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Finally, The Goldman Sachs Group began coverage on Carrier Global in a report on Thursday, December 12th. They issued a “buy” rating and a $96.00 price objective for the company. Eight investment 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 company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $82.64.

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.