Kentucky Trust Co Makes New Investment in Carrier Global Co. (NYSE:CARR)

Kentucky Trust Co bought a new position in shares of Carrier Global Co. (NYSE:CARR) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,200 shares of the company’s stock, valued at approximately $82,000.

A number of other large investors have also recently added to or reduced their stakes in CARR. Exchange Traded Concepts LLC boosted its position in Carrier Global by 69.6% during the third quarter. Exchange Traded Concepts LLC now owns 1,187 shares of the company’s stock worth $96,000 after purchasing an additional 487 shares during the period. Koshinski Asset Management Inc. bought a new stake in Carrier Global during the third quarter worth approximately $201,000. Procyon Advisors LLC boosted its position in shares of Carrier Global by 13.8% in the third quarter. Procyon Advisors LLC now owns 5,730 shares of the company’s stock valued at $461,000 after acquiring an additional 697 shares during the period. Wesbanco Bank Inc. boosted its position in shares of Carrier Global by 3.3% in the third quarter. Wesbanco Bank Inc. now owns 47,529 shares of the company’s stock valued at $3,826,000 after acquiring an additional 1,498 shares during the period. Finally, Creative Planning boosted its position in shares of Carrier Global by 2.6% in the third quarter. Creative Planning now owns 465,226 shares of the company’s stock valued at $37,446,000 after acquiring an additional 11,655 shares during the period. Institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Performance

Carrier Global stock opened at $63.60 on Thursday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.08 and a quick ratio of 0.82. The stock has a fifty day moving average price of $68.78 and a two-hundred day moving average price of $72.40. Carrier Global Co. has a 52-week low of $53.13 and a 52-week high of $83.32. The firm has a market capitalization of $57.06 billion, a P/E ratio of 16.10, a P/E/G ratio of 2.11 and a beta of 1.35.

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

Carrier Global declared that its board has initiated a stock repurchase program 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 programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Carrier Global Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, December 20th were paid 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 1.42%. The ex-dividend date of this dividend was Friday, December 20th. Carrier Global’s dividend payout ratio is currently 22.78%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CARR. Barclays reduced their price objective on Carrier Global from $90.00 to $87.00 and set an “overweight” rating for the company in a research report on Wednesday. Bank of America increased their price objective on Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Citigroup reduced their price objective on Carrier Global from $94.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Wells Fargo & Company reduced their price objective on Carrier Global from $75.00 to $70.00 and set an “equal weight” rating for the company in a research report on Wednesday. Finally, Royal Bank of Canada reduced their price objective on Carrier Global from $86.00 to $76.00 and set an “outperform” rating for the company in a research report on Wednesday. Eight research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price 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.