Trust Co. of Vermont Buys 163 Shares of Carrier Global Co. (NYSE:CARR)

Trust Co. of Vermont grew its stake in shares of Carrier Global Co. (NYSE:CARR) by 0.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 38,929 shares of the company’s stock after purchasing an additional 163 shares during the quarter. Trust Co. of Vermont’s holdings in Carrier Global were worth $2,657,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. American Century Companies Inc. increased its holdings in Carrier Global by 57.7% in the 2nd quarter. American Century Companies Inc. now owns 94,266 shares of the company’s stock valued at $5,946,000 after buying an additional 34,487 shares during the period. Mercer Global Advisors Inc. ADV raised its stake in Carrier Global by 8.6% during the second quarter. Mercer Global Advisors Inc. ADV now owns 89,024 shares of the company’s stock worth $5,618,000 after acquiring an additional 7,015 shares in the last quarter. Blair William & Co. IL lifted its holdings in shares of Carrier Global by 2.8% in the second quarter. Blair William & Co. IL now owns 153,893 shares of the company’s stock worth $9,708,000 after acquiring an additional 4,135 shares during the last quarter. XTX Topco Ltd boosted its stake in shares of Carrier Global by 27.9% in the 2nd quarter. XTX Topco Ltd now owns 21,754 shares of the company’s stock valued at $1,372,000 after purchasing an additional 4,747 shares in the last quarter. Finally, Brighton Jones LLC boosted its position in Carrier Global by 10.4% in the second quarter. Brighton Jones LLC now owns 5,790 shares of the company’s stock valued at $365,000 after buying an additional 544 shares in the last quarter. Institutional investors own 91.00% of the company’s stock.

Carrier Global Price Performance

Shares of NYSE CARR remained flat at $69.74 during mid-day trading on Friday. 4,601,408 shares of the stock were exchanged, compared to its average volume of 4,039,499. 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 52-week low of $53.13 and a 52-week high of $83.32. The company has a market capitalization of $62.57 billion, a PE ratio of 17.66, a P/E/G ratio of 2.03 and a beta of 1.36. The business has a fifty day moving average of $71.96 and a 200-day moving average of $72.18.

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

Carrier Global Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, December 20th will be given a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 1.29%. This is an increase from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Friday, December 20th. Carrier Global’s dividend payout ratio is presently 22.78%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Royal Bank of Canada lowered their price objective on Carrier Global from $87.00 to $86.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Robert W. Baird reduced their price target on Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. The Goldman Sachs Group assumed coverage on Carrier Global in a report on Thursday, December 12th. They issued a “buy” rating and a $96.00 target price on the stock. Mizuho raised their price target on shares of Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Finally, Citigroup decreased 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 report on Monday, January 13th. 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’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $83.93.

Carrier Global 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.