Roxbury Financial LLC Buys Shares of 715 Carrier Global Co. (NYSE:CARR)

Roxbury Financial LLC bought a new stake in shares of Carrier Global Co. (NYSE:CARR) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 715 shares of the company’s stock, valued at approximately $49,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CARR. FMR LLC increased its position in Carrier Global by 36.2% during the 3rd quarter. FMR LLC now owns 8,729,073 shares of the company’s stock valued at $702,603,000 after purchasing an additional 2,320,909 shares during the period. Zurich Insurance Group Ltd FI acquired a new stake in shares of Carrier Global during the 3rd quarter worth approximately $130,479,000. Mizuho Securities USA LLC grew its position in shares of Carrier Global by 1,428.4% during the 3rd quarter. Mizuho Securities USA LLC now owns 987,500 shares of the company’s stock worth $79,484,000 after buying an additional 922,892 shares during the period. International Assets Investment Management LLC grew its position in shares of Carrier Global by 8,797.3% during the 3rd quarter. International Assets Investment Management LLC now owns 907,258 shares of the company’s stock worth $730,250,000 after buying an additional 897,061 shares during the period. Finally, State Street Corp grew its position 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. Institutional investors and hedge funds own 91.00% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CARR. UBS Group raised shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price objective for the company in a research report on Wednesday, November 13th. Barclays reduced their price objective on shares of Carrier Global from $90.00 to $87.00 and set an “overweight” rating for the company in a research report on Wednesday. The Goldman Sachs Group assumed coverage on shares of Carrier Global in a research report on Thursday, December 12th. They set a “buy” rating and a $96.00 price objective for the company. Robert W. Baird reduced their price target 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. Finally, Citigroup reduced their price target 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. Seven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $82.64.

Carrier Global Price Performance

Shares of NYSE:CARR opened at $65.19 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69. The stock’s fifty day simple moving average is $68.17 and its two-hundred day simple moving average is $72.30. Carrier Global Co. has a 1-year low of $53.13 and a 1-year high of $83.32. The stock has a market cap of $56.61 billion, a PE ratio of 16.50, a price-to-earnings-growth ratio of 2.11 and a beta of 1.35.

Carrier Global (NYSE:CARR) last released its earnings results on Tuesday, February 11th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.03. Carrier Global had a return on equity of 20.52% and a net margin of 14.98%. During the same quarter in the previous year, the business posted $0.53 EPS. As a group, analysts forecast that Carrier Global Co. will post 2.52 EPS for the current fiscal year.

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

Carrier Global Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, December 20th were paid a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.38%. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Friday, December 20th. Carrier Global’s payout ratio is presently 14.33%.

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.