Allworth Financial LP Raises Stock Position in Carrier Global Co. (NYSE:CARR)

Allworth Financial LP grew its position in Carrier Global Co. (NYSE:CARR) by 1,657.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 167,653 shares of the company’s stock after buying an additional 158,114 shares during the period. Allworth Financial LP’s holdings in Carrier Global were worth $11,741,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in CARR. State Street Corp lifted its position in Carrier Global by 1.4% in the third quarter. State Street Corp now owns 33,665,505 shares of the company’s stock valued at $2,709,736,000 after buying an additional 469,108 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Carrier Global by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 16,937,689 shares of the company’s stock valued at $1,357,961,000 after acquiring an additional 289,439 shares during the period. Fisher Asset Management LLC lifted its holdings in shares of Carrier Global by 1.9% in the 3rd quarter. Fisher Asset Management LLC now owns 14,267,109 shares of the company’s stock worth $1,148,360,000 after acquiring an additional 269,538 shares during the last quarter. FMR LLC boosted its position in shares of Carrier Global by 36.2% during the 3rd quarter. FMR LLC now owns 8,729,073 shares of the company’s stock worth $702,603,000 after purchasing an additional 2,320,909 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Carrier Global by 1.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,993,169 shares of the company’s stock valued at $482,390,000 after purchasing an additional 110,988 shares during the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Stock Up 2.4 %

Shares of NYSE CARR opened at $65.19 on Monday. 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 $58.49 billion, a price-to-earnings ratio of 16.50, a price-to-earnings-growth ratio of 2.11 and a beta of 1.35. 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 has a 50-day moving average of $68.17 and a two-hundred day moving average of $72.33.

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 analysts’ consensus estimates 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 prior year, the business earned $0.53 earnings per share. On average, analysts forecast that Carrier Global Co. will post 2.52 earnings per share for the current fiscal year.

Carrier Global declared that its Board of Directors has initiated a stock repurchase program on Thursday, October 24th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 4.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Carrier Global Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, December 20th were paid a dividend of $0.225 per share. This is a positive change 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 of this dividend was Friday, December 20th. Carrier Global’s dividend payout ratio (DPR) is currently 22.78%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. UBS Group upgraded Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price target for the company in a research report on Wednesday, November 13th. Citigroup dropped their target price on Carrier Global from $94.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, January 13th. The Goldman Sachs Group began coverage on shares of Carrier Global in a research report on Thursday, December 12th. They set a “buy” rating and a $96.00 price target on the stock. Robert W. Baird dropped their price objective on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Finally, Northcoast Research started coverage on shares of Carrier Global in a report on Friday, November 22nd. They set a “neutral” rating on the stock. Seven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.64.

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.