Wesbanco Bank Inc. Sells 1,859 Shares of Carrier Global Co. (NYSE:CARR)

Wesbanco Bank Inc. trimmed its holdings in shares of Carrier Global Co. (NYSE:CARR) by 3.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,670 shares of the company’s stock after selling 1,859 shares during the period. Wesbanco Bank Inc.’s holdings in Carrier Global were worth $3,117,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Bartlett & CO. Wealth Management LLC raised its stake in shares of Carrier Global by 2.6% during the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 29,560 shares of the company’s stock worth $2,024,000 after purchasing an additional 742 shares during the period. Advisory Alpha LLC bought a new stake in Carrier Global in the 4th quarter valued at about $239,000. Dakota Wealth Management raised its stake in Carrier Global by 18.5% in the 4th quarter. Dakota Wealth Management now owns 22,235 shares of the company’s stock valued at $1,518,000 after acquiring an additional 3,478 shares during the period. Nisa Investment Advisors LLC grew its holdings in Carrier Global by 0.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 242,675 shares of the company’s stock valued at $16,620,000 after buying an additional 1,222 shares in the last quarter. Finally, Simon Quick Advisors LLC grew its holdings in Carrier Global by 5.4% during the 4th quarter. Simon Quick Advisors LLC now owns 3,235 shares of the company’s stock valued at $221,000 after buying an additional 167 shares in the last quarter. 91.00% of the stock is currently owned by institutional investors.

Carrier Global Trading Down 0.4 %

CARR opened at $69.77 on Friday. 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 52 week low of $53.13 and a 52 week high of $83.32. The stock has a market cap of $62.60 billion, a PE ratio of 17.66, a PEG ratio of 2.27 and a beta of 1.36. The business has a 50 day moving average of $71.61 and a 200-day moving average of $72.39.

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

Carrier Global Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, December 20th will be issued a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date of this dividend is Friday, December 20th. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s payout ratio is 22.78%.

Analyst Upgrades and Downgrades

CARR has been the subject of a number of recent analyst reports. Royal Bank of Canada reduced their target price on Carrier Global from $87.00 to $86.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Northcoast Research began coverage on Carrier Global in a report on Friday, November 22nd. They set a “neutral” rating for the company. Mizuho boosted their price objective on Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Bank of America upped their target price on Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Finally, Wells Fargo & Company lowered their price objective on shares of Carrier Global from $80.00 to $75.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Eight investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Carrier Global has an average rating of “Moderate Buy” and an average price target of $83.93.

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.