Fiera Capital Corp Sells 350,404 Shares of Carrier Global Co. (NYSE:CARR)

Fiera Capital Corp trimmed its stake in Carrier Global Co. (NYSE:CARR) by 4.6% during the fourth quarter, Holdings Channel reports. The fund owned 7,227,508 shares of the company’s stock after selling 350,404 shares during the quarter. Carrier Global accounts for 1.6% of Fiera Capital Corp’s holdings, making the stock its 18th largest position. Fiera Capital Corp’s holdings in Carrier Global were worth $493,350,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. RFG Advisory LLC lifted its position in Carrier Global by 36.2% during the 4th quarter. RFG Advisory LLC now owns 7,170 shares of the company’s stock worth $489,000 after acquiring an additional 1,904 shares during the last quarter. Princeton Global Asset Management LLC increased its stake in shares of Carrier Global by 1,156.1% in the fourth quarter. Princeton Global Asset Management LLC now owns 20,663 shares of the company’s stock worth $1,410,000 after purchasing an additional 19,018 shares during the period. Cerity Partners LLC lifted its position in shares of Carrier Global by 39.0% during the 3rd quarter. Cerity Partners LLC now owns 136,821 shares of the company’s stock worth $11,013,000 after purchasing an additional 38,365 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in Carrier Global by 12.3% during the 3rd quarter. Daiwa Securities Group Inc. now owns 100,440 shares of the company’s stock valued at $8,084,000 after purchasing an additional 11,032 shares during the period. Finally, Miracle Mile Advisors LLC acquired a new stake in Carrier Global in the 4th quarter valued at approximately $2,213,000. 91.00% of the stock is owned by institutional investors.

Carrier Global Stock Performance

Shares of NYSE:CARR opened at $63.60 on Thursday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.08 and a quick ratio of 0.82. The business’s fifty day moving average price is $68.78 and its two-hundred day moving average price is $72.40. Carrier Global Co. has a fifty-two week low of $53.13 and a fifty-two week high of $83.32. The stock has a market capitalization of $57.06 billion, a price-to-earnings ratio of 16.10, a price-to-earnings-growth ratio of 2.11 and a beta of 1.35.

Carrier Global (NYSE:CARR) last posted its 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 last year, the business posted $0.53 EPS. As a group, analysts predict that Carrier Global Co. will post 2.52 EPS for the current fiscal year.

Carrier Global announced that its board has authorized a share buyback plan on Thursday, October 24th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the company to repurchase up to 4.6% of its shares through open market purchases. Shares buyback plans are often a sign 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 was paid on Friday, February 7th. Stockholders of record on Friday, December 20th were paid a $0.225 dividend. The ex-dividend date was Friday, December 20th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.42%. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s payout ratio is 22.78%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Mizuho upped their price target on Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Northcoast Research assumed coverage on shares of Carrier Global in a research note on Friday, November 22nd. They set a “neutral” rating for the company. Royal Bank of Canada decreased their price target on shares of Carrier Global from $86.00 to $76.00 and set an “outperform” rating on the stock in a research report on Wednesday. Citigroup cut their price objective on shares of Carrier Global from $94.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Finally, The Goldman Sachs Group initiated coverage on shares of Carrier Global in a research note on Thursday, December 12th. They issued a “buy” rating and a $96.00 target price for the company. Eight analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average 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.