Carrier Global Co. (NYSE:CARR) Stock Position Increased by Welch Group LLC

Welch Group LLC increased its position in shares of Carrier Global Co. (NYSE:CARR) by 2.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 95,071 shares of the company’s stock after acquiring an additional 2,647 shares during the quarter. Welch Group LLC’s holdings in Carrier Global were worth $6,487,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. FSA Wealth Management LLC acquired a new position in shares of Carrier Global in the 3rd quarter valued at $28,000. McClarren Financial Advisors Inc. raised its holdings in Carrier Global by 246.0% during the 3rd 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 purchased a new stake in Carrier Global during the third quarter valued at about $37,000. Country Trust Bank acquired a new position in shares of Carrier Global in the third quarter worth about $40,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Carrier Global in the third quarter worth approximately $44,000. 91.00% of the stock is currently owned by institutional investors.

Carrier Global Price Performance

NYSE CARR opened at $63.00 on Tuesday. The firm has a market cap of $56.52 billion, a P/E ratio of 15.95, a price-to-earnings-growth ratio of 2.12 and a beta of 1.35. The stock’s 50-day moving average is $70.51 and its two-hundred day moving average is $72.50. Carrier Global Co. has a fifty-two week low of $53.13 and a fifty-two week high of $83.32. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.08 and a quick ratio of 0.82.

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

Carrier Global Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, December 20th will be issued a $0.225 dividend. 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 1.43%. The ex-dividend date is Friday, December 20th. Carrier Global’s payout ratio is 22.78%.

Analysts Set New Price Targets

CARR has been the subject of a number of recent analyst reports. Barclays decreased their price objective on shares of Carrier Global from $92.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. The Goldman Sachs Group began coverage on Carrier Global in a research report on Thursday, December 12th. They set a “buy” rating and a $96.00 price target on the stock. Northcoast Research initiated coverage on Carrier Global in a research report on Friday, November 22nd. They set a “neutral” rating for the company. Mizuho upped their target price on Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Finally, Citigroup decreased their price target 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. 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 MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $83.93.

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.