Woodstock Corp Trims Stock Position in Carrier Global Co. (NYSE:CARR)

Woodstock Corp trimmed its stake in Carrier Global Co. (NYSE:CARR) by 1.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,057 shares of the company’s stock after selling 365 shares during the period. Woodstock Corp’s holdings in Carrier Global were worth $1,574,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Frank Rimerman Advisors LLC lifted its stake in Carrier Global by 54,708.0% in the second quarter. Frank Rimerman Advisors LLC now owns 13,702 shares of the company’s stock valued at $864,000 after buying an additional 13,677 shares during the last quarter. Cerity Partners LLC raised its position in Carrier Global by 39.0% in the 3rd quarter. Cerity Partners LLC now owns 136,821 shares of the company’s stock valued at $11,013,000 after purchasing an additional 38,365 shares during the last quarter. Daiwa Securities Group Inc. raised its position in Carrier Global by 12.3% in the 3rd quarter. Daiwa Securities Group Inc. now owns 100,440 shares of the company’s stock valued at $8,084,000 after purchasing an additional 11,032 shares during the last quarter. Sheaff Brock Investment Advisors LLC acquired a new stake in Carrier Global during the 3rd quarter worth $1,068,000. Finally, Miracle Mile Advisors LLC purchased a new position in Carrier Global during the 4th quarter worth $2,213,000. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CARR has been the subject of a number of research reports. Stephens reduced 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 report on Monday, October 28th. Bank of America upped their price objective on Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. The Goldman Sachs Group started coverage on Carrier Global in a research note on Thursday, December 12th. They issued a “buy” rating and a $96.00 target price on the stock. UBS Group upgraded Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price target for the company in a research note on Wednesday, November 13th. Finally, Oppenheimer increased their price target on Carrier Global from $74.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Eight research 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’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $83.93.

Carrier Global Price Performance

Shares of NYSE CARR opened at $69.72 on Friday. 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 Co. has a one year low of $53.13 and a one year high of $83.32. The firm has a market capitalization of $62.56 billion, a P/E ratio of 17.65, a PEG ratio of 2.03 and a beta of 1.36. The company’s fifty day moving average is $72.21 and its two-hundred day moving average is $72.14.

Carrier Global Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, December 20th will be given a dividend of $0.225 per share. 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 1.29%. The ex-dividend date is Friday, December 20th. Carrier Global’s dividend payout ratio is presently 22.78%.

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

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.