Carrier Global Co. (NYSE:CARR) Shares Sold by Family Capital Trust Co

Family Capital Trust Co reduced its stake in shares of Carrier Global Co. (NYSE:CARR) by 6.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 69,155 shares of the company’s stock after selling 4,761 shares during the period. Carrier Global accounts for about 1.6% of Family Capital Trust Co’s holdings, making the stock its 19th biggest position. Family Capital Trust Co’s holdings in Carrier Global were worth $4,720,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently modified their holdings of the company. FSA Wealth Management LLC acquired a new position in Carrier Global in the 3rd quarter valued at $28,000. McClarren Financial Advisors Inc. raised its holdings in Carrier Global by 246.0% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock valued at $35,000 after acquiring an additional 310 shares during the last quarter. Coastline Trust Co acquired a new position in Carrier Global in the 3rd quarter valued at $37,000. Capital Performance Advisors LLP acquired a new position in Carrier Global in the 3rd quarter valued at $44,000. Finally, Ashton Thomas Securities LLC acquired a new position in Carrier Global in the 3rd quarter valued at $50,000. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CARR has been the subject of a number of research analyst reports. Barclays dropped their price objective on Carrier Global from $92.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Stephens dropped their price objective on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a report on Monday, October 28th. Wells Fargo & Company dropped their price objective on Carrier Global from $80.00 to $75.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. UBS Group upgraded Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price objective for the company in a report on Wednesday, November 13th. Finally, The Goldman Sachs Group initiated coverage on Carrier Global in a report on Thursday, December 12th. They set a “buy” rating and a $96.00 price objective for the company. Eight research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Carrier Global presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.93.

Carrier Global Stock Performance

NYSE:CARR opened at $64.17 on Friday. 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 firm has a 50-day moving average of $69.19 and a two-hundred day moving average of $72.33. The stock has a market cap of $57.58 billion, a P/E ratio of 16.25, a PEG ratio of 2.11 and a beta of 1.35. Carrier Global Co. has a 1-year low of $53.13 and a 1-year high of $83.32.

Carrier Global Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, December 20th were given a $0.225 dividend. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. This represents a $0.90 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date of this dividend was Friday, December 20th. Carrier Global’s dividend payout ratio is presently 22.78%.

Carrier Global announced that its Board of Directors has initiated a share repurchase plan on Thursday, October 24th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 4.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is 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.