Perigon Wealth Management LLC Grows Holdings in Carrier Global Co. (NYSE:CARR)

Perigon Wealth Management LLC grew its holdings in Carrier Global Co. (NYSE:CARR) by 1.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,510 shares of the company’s stock after purchasing an additional 588 shares during the period. Perigon Wealth Management LLC’s holdings in Carrier Global were worth $2,616,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of CARR. FSA Wealth Management LLC purchased a new position in shares of Carrier Global during the third quarter valued at $28,000. McClarren Financial Advisors Inc. increased its stake in shares of Carrier Global by 246.0% during the third quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock valued at $35,000 after buying an additional 310 shares during the period. Coastline Trust Co purchased a new position in shares of Carrier Global during the third quarter valued at $37,000. Country Trust Bank purchased a new position in shares of Carrier Global during the third quarter valued at $40,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Carrier Global during the third quarter valued at $44,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Price Performance

Shares of NYSE CARR opened at $64.78 on Thursday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 1.08. The company has a market cap of $58.12 billion, a PE ratio of 16.40, a P/E/G ratio of 2.26 and a beta of 1.36. The business has a 50-day simple moving average of $71.14 and a two-hundred day simple moving average of $72.57. Carrier Global Co. has a fifty-two week low of $53.13 and a fifty-two week high of $83.32.

Carrier Global announced that its board has approved a share buyback program on Thursday, October 24th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the company to buy up to 4.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Carrier Global Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, December 20th will be issued a dividend of $0.225 per share. This is an increase from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date is Friday, December 20th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.39%. Carrier Global’s payout ratio is 22.78%.

Wall Street Analyst Weigh In

CARR has been the topic of several research reports. Mizuho raised their price target on Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Citigroup cut their target price on Carrier Global from $94.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Northcoast Research started coverage on Carrier Global in a research note on Friday, November 22nd. They issued a “neutral” rating on the stock. Robert W. Baird cut their target price on Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Finally, Bank of America lifted their target price on Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. 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. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price 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.