Hager Investment Management Services LLC Takes $879,000 Position in Carrier Global Co. (NYSE:CARR)

Hager Investment Management Services LLC acquired a new stake in Carrier Global Co. (NYSE:CARR) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 12,882 shares of the company’s stock, valued at approximately $879,000.

Other institutional investors have also added to or reduced their stakes in the company. FSA Wealth Management LLC acquired a new position in Carrier Global during the third quarter worth $28,000. McClarren Financial Advisors Inc. boosted its position in Carrier Global by 246.0% during the third quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock worth $35,000 after purchasing an additional 310 shares during the period. Coastline Trust Co bought a new position in Carrier Global during the third quarter worth $37,000. Country Trust Bank bought a new stake in shares of Carrier Global in the third quarter valued at about $40,000. Finally, Capital Performance Advisors LLP bought a new stake in shares of Carrier Global in the third quarter valued at about $44,000. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Carrier Global Stock Up 1.2 %

CARR stock opened at $63.91 on Wednesday. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $57.34 billion, a PE ratio of 16.18, a PEG ratio of 2.12 and a beta of 1.35. Carrier Global Co. has a twelve month low of $53.13 and a twelve month high of $83.32. The stock has a 50-day simple moving average of $70.19 and a two-hundred day simple moving average of $72.48.

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 given a $0.225 dividend. 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. This represents a $0.90 dividend on an annualized basis and a yield of 1.41%. Carrier Global’s payout ratio is presently 22.78%.

Carrier Global declared that its Board of Directors has approved 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 buy up to 4.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CARR. Robert W. Baird reduced their target price on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Mizuho boosted 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. Bank of America boosted 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. Wells Fargo & Company lowered their target price on 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. Finally, Stephens lowered their price objective on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a research note on Monday, October 28th. Eight research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.93.

Carrier Global Company 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.