Sheaff Brock Investment Advisors LLC Sells 1,700 Shares of Carrier Global Co. (NYSE:CARR)

Sheaff Brock Investment Advisors LLC lowered its stake in shares of Carrier Global Co. (NYSE:CARR) by 12.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,565 shares of the company’s stock after selling 1,700 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in Carrier Global were worth $789,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Allworth Financial LP raised its stake in Carrier Global by 1,657.6% in the 4th quarter. Allworth Financial LP now owns 167,653 shares of the company’s stock valued at $11,741,000 after acquiring an additional 158,114 shares during the period. Principal Securities Inc. raised its stake in Carrier Global by 128.6% in the 4th quarter. Principal Securities Inc. now owns 16,919 shares of the company’s stock valued at $1,155,000 after acquiring an additional 9,518 shares during the period. Quantum Private Wealth LLC raised its stake in Carrier Global by 1.1% in the 4th quarter. Quantum Private Wealth LLC now owns 23,271 shares of the company’s stock valued at $1,588,000 after acquiring an additional 252 shares during the period. Little House Capital LLC raised its stake in Carrier Global by 2.3% in the 4th quarter. Little House Capital LLC now owns 11,752 shares of the company’s stock valued at $802,000 after acquiring an additional 264 shares during the period. Finally, TigerOak Management L.L.C. acquired a new position in Carrier Global in the 4th quarter valued at $286,000. Institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Performance

NYSE:CARR opened at $65.19 on Monday. The stock’s 50-day simple moving average is $68.17 and its 200 day simple moving average is $72.33. The firm has a market capitalization 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. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69. Carrier Global Co. has a twelve month low of $53.13 and a twelve month high of $83.32.

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

Carrier Global Increases Dividend

The firm also recently disclosed 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 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%. Carrier Global’s dividend payout ratio (DPR) is 22.78%.

Carrier Global declared that its board has approved a stock repurchase plan on Thursday, October 24th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the company to repurchase up to 4.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

A number of brokerages have commented on CARR. Stephens decreased their price objective on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating on the stock in a report on Monday, October 28th. JPMorgan Chase & Co. decreased their price objective on Carrier Global from $83.00 to $77.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. Wells Fargo & Company decreased their price objective on Carrier Global from $75.00 to $70.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 12th. Citigroup decreased their price objective on Carrier Global from $94.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Finally, Northcoast Research began coverage on Carrier Global in a report on Friday, November 22nd. They issued a “neutral” rating on the stock. 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 stock. According to data from MarketBeat.com, Carrier Global presently has an average rating of “Moderate Buy” and an average price target 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.