Manchester Capital Management LLC Sells 221 Shares of Carrier Global Co. (NYSE:CARR)

Manchester Capital Management LLC cut its position in Carrier Global Co. (NYSE:CARR) by 4.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 5,169 shares of the company’s stock after selling 221 shares during the period. Manchester Capital Management LLC’s holdings in Carrier Global were worth $353,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of CARR. FMR LLC raised its position in Carrier Global by 36.2% in the third quarter. FMR LLC now owns 8,729,073 shares of the company’s stock valued at $702,603,000 after purchasing an additional 2,320,909 shares during the last quarter. Zurich Insurance Group Ltd FI bought a new position in shares of Carrier Global during the third quarter worth about $130,479,000. Mizuho Securities USA LLC raised its position in shares of Carrier Global by 1,428.4% during the third quarter. Mizuho Securities USA LLC now owns 987,500 shares of the company’s stock worth $79,484,000 after acquiring an additional 922,892 shares during the last quarter. International Assets Investment Management LLC raised its position in shares of Carrier Global by 8,797.3% during the third quarter. International Assets Investment Management LLC now owns 907,258 shares of the company’s stock worth $730,250,000 after acquiring an additional 897,061 shares during the last quarter. Finally, State Street Corp raised its position in shares of Carrier Global by 1.4% during the third quarter. State Street Corp now owns 33,665,505 shares of the company’s stock worth $2,709,736,000 after acquiring an additional 469,108 shares during the last quarter. 91.00% of the stock is currently owned by institutional investors.

Carrier Global Trading Up 2.4 %

NYSE CARR opened at $65.19 on Friday. Carrier Global Co. has a 1-year low of $53.13 and a 1-year high of $83.32. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69. The stock has a 50-day moving average of $68.34 and a 200-day moving average of $72.28. The firm has a market cap of $58.49 billion, a PE ratio of 16.50, a price-to-earnings-growth ratio of 2.11 and a beta of 1.35.

Carrier Global (NYSE:CARR) last released its earnings results on Tuesday, February 11th. The company reported $0.54 earnings per share 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 last year, the firm posted $0.53 earnings per share. As a group, sell-side analysts forecast that Carrier Global Co. will post 2.52 EPS for the current year.

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 $0.225 dividend. The ex-dividend date of this dividend was Friday, December 20th. This represents a $0.90 annualized dividend and a dividend yield of 1.38%. This is an increase from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s dividend payout ratio is presently 22.78%.

Carrier Global announced that its board has authorized a stock repurchase program on Thursday, October 24th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 4.6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CARR. Bank of America raised their price objective on Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. 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 objective for the company. Northcoast Research began coverage on Carrier Global in a research report on Friday, November 22nd. They set a “neutral” rating for the company. Royal Bank of Canada decreased their target price on Carrier Global from $86.00 to $76.00 and set an “outperform” rating for the company in a research note on Wednesday. Finally, Robert W. Baird decreased their target price on Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Seven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Carrier Global currently 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.