Brendel Financial Advisors LLC Has $1.14 Million Stock Holdings in Carrier Global Co. (NYSE:CARR)

Brendel Financial Advisors LLC lifted its position in shares of Carrier Global Co. (NYSE:CARR) by 8.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 16,641 shares of the company’s stock after acquiring an additional 1,247 shares during the period. Brendel Financial Advisors LLC’s holdings in Carrier Global were worth $1,136,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. FSA Wealth Management LLC acquired a new stake in shares of Carrier Global during the third quarter worth $28,000. McClarren Financial Advisors Inc. lifted its holdings in shares of Carrier Global by 246.0% during 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 in the last quarter. Coastline Trust Co bought a new position in shares of Carrier Global in the third quarter worth $37,000. Country Trust Bank bought a new position in shares of Carrier Global in the third quarter worth $40,000. Finally, Capital Performance Advisors LLP bought a new position in shares of Carrier Global in the third quarter worth $44,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on CARR shares. Stephens decreased their price target on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Monday, October 28th. Northcoast Research started coverage on Carrier Global in a research report on Friday, November 22nd. They issued a “neutral” rating on the stock. Barclays decreased their price target on Carrier Global from $92.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. JPMorgan Chase & Co. started coverage on Carrier Global in a research report on Thursday, October 10th. They issued a “neutral” rating and a $83.00 price target on the stock. Finally, The Goldman Sachs Group started coverage on Carrier Global in a research report on Thursday, December 12th. They issued a “buy” rating and a $96.00 price target on the stock. Eight research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $84.36.

Carrier Global Stock Performance

Shares of CARR stock opened at $68.36 on Wednesday. The business’s 50-day moving average price is $72.34 and its 200-day moving average price is $72.17. Carrier Global Co. has a 12 month low of $53.13 and a 12 month high of $83.32. The firm has a market capitalization of $61.33 billion, a price-to-earnings ratio of 17.31, a PEG ratio of 2.73 and a beta of 1.36. 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 announced that its Board of Directors has approved a share 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 shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Carrier Global Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, December 20th will be paid a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.32%. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date is Friday, December 20th. Carrier Global’s dividend payout ratio (DPR) is presently 22.78%.

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.