VCI Wealth Management LLC Purchases 4,966 Shares of Carrier Global Co. (NYSE:CARR)

VCI Wealth Management LLC grew its position in Carrier Global Co. (NYSE:CARR) by 27.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 23,207 shares of the company’s stock after buying an additional 4,966 shares during the period. VCI Wealth Management LLC’s holdings in Carrier Global were worth $1,584,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of CARR. State Street Corp boosted its holdings in shares of Carrier Global by 1.4% during the 3rd quarter. State Street Corp now owns 33,665,505 shares of the company’s stock worth $2,709,736,000 after buying an additional 469,108 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Carrier Global by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 16,937,689 shares of the company’s stock worth $1,357,961,000 after buying an additional 289,439 shares during the period. Fisher Asset Management LLC boosted its holdings in shares of Carrier Global by 1.9% during the 3rd quarter. Fisher Asset Management LLC now owns 14,267,109 shares of the company’s stock worth $1,148,360,000 after buying an additional 269,538 shares during the period. FMR LLC boosted its holdings in shares of Carrier Global by 36.2% during the 3rd quarter. FMR LLC now owns 8,729,073 shares of the company’s stock worth $702,603,000 after buying an additional 2,320,909 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Carrier Global by 1.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,993,169 shares of the company’s stock worth $482,390,000 after buying an additional 110,988 shares during the period. Institutional investors own 91.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on CARR shares. Citigroup reduced their target price on shares of Carrier Global from $94.00 to $90.00 and set a “buy” rating for the company in a report on Monday, January 13th. Robert W. Baird dropped their price objective on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Wells Fargo & Company dropped 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 research note on Tuesday, January 7th. Northcoast Research started coverage on shares of Carrier Global in a research note on Friday, November 22nd. They issued a “neutral” rating for the company. Finally, Bank of America lifted their price objective on shares of Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Eight equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.93.

Carrier Global Price Performance

Shares of NYSE:CARR opened at $67.36 on Tuesday. The firm has a 50 day moving average of $71.28 and a 200-day moving average of $72.56. The stock has a market capitalization of $60.44 billion, a PE ratio of 17.05, a PEG ratio of 2.26 and a beta of 1.36. Carrier Global Co. has a 12 month low of $53.13 and a 12 month high of $83.32. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69.

Carrier Global Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, December 20th will be given a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 1.34%. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date is Friday, December 20th. Carrier Global’s dividend payout ratio is currently 22.78%.

Carrier Global declared that its board has initiated a share buyback 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 often an indication that the company’s board of directors 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.