Mcdonald Partners LLC Sells 300 Shares of Carrier Global Co. (NYSE:CARR)

Mcdonald Partners LLC decreased its position in shares of Carrier Global Co. (NYSE:CARR) by 4.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,004 shares of the company’s stock after selling 300 shares during the period. Mcdonald Partners LLC’s holdings in Carrier Global were worth $410,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Atria Wealth Solutions Inc. increased its position in Carrier Global by 11.5% during the fourth quarter. Atria Wealth Solutions Inc. now owns 33,723 shares of the company’s stock valued at $2,304,000 after acquiring an additional 3,477 shares during the last quarter. Empower Advisory Group LLC increased its position in Carrier Global by 6.4% during the fourth quarter. Empower Advisory Group LLC now owns 2,962 shares of the company’s stock valued at $202,000 after acquiring an additional 177 shares during the last quarter. CIBC Asset Management Inc boosted its stake in shares of Carrier Global by 4.1% during the fourth quarter. CIBC Asset Management Inc now owns 129,154 shares of the company’s stock valued at $8,816,000 after purchasing an additional 5,044 shares during the period. Sanctuary Advisors LLC boosted its stake in shares of Carrier Global by 2.7% during the fourth quarter. Sanctuary Advisors LLC now owns 72,289 shares of the company’s stock valued at $4,769,000 after purchasing an additional 1,910 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in shares of Carrier Global by 4.1% during the fourth quarter. Principal Financial Group Inc. now owns 2,667,872 shares of the company’s stock valued at $182,109,000 after purchasing an additional 105,995 shares during the period. Institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Performance

CARR stock opened at $66.55 on Wednesday. The firm has a market cap of $59.71 billion, a price-to-earnings ratio of 16.85, a PEG ratio of 2.11 and a beta of 1.35. The firm has a 50-day simple moving average of $67.89 and a two-hundred day simple moving average of $72.34. Carrier Global Co. has a one year low of $53.13 and a one year high of $83.32. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 1.08.

Carrier Global (NYSE:CARR) last released its quarterly earnings results on Tuesday, February 11th. The company reported $0.54 EPS for the quarter, beating 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 quarter last year, the business earned $0.53 earnings per share. On average, equities analysts forecast that Carrier Global Co. will post 2.52 EPS for the current fiscal year.

Carrier Global declared that its board has initiated a stock buyback plan on Thursday, October 24th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 4.6% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Carrier Global Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, December 20th were given a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 1.35%. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date was Friday, December 20th. Carrier Global’s dividend payout ratio is presently 22.78%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Stephens lowered their target price on shares of Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a research note on Monday, October 28th. UBS Group raised shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 target price for the company in a research note on Wednesday, November 13th. Wells Fargo & Company lowered their target price on shares of Carrier Global from $75.00 to $70.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 12th. Royal Bank of Canada lowered their target price on shares of Carrier Global from $86.00 to $76.00 and set an “outperform” rating for the company in a research note on Wednesday, February 12th. Finally, Citigroup lowered 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 note on Monday, January 13th. Seven 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.64.

Carrier Global Company 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.