Carrier Global Co. (NYSE:CARR) Stake Lessened by Daymark Wealth Partners LLC

by · The Markets Daily

Daymark Wealth Partners LLC decreased its position in shares of Carrier Global Co. (NYSE:CARR – Free Report) by 0.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 62,261 shares of the company’s stock after selling 332 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Carrier Global were worth $4,250,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. FSA Wealth Management LLC bought a new stake in shares of Carrier Global in the 3rd quarter worth $28,000. McClarren Financial Advisors Inc. grew 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 valued at $35,000 after purchasing an additional 310 shares in the last quarter. Coastline Trust Co purchased a new stake in Carrier Global in the 3rd quarter worth approximately $37,000. Country Trust Bank purchased a new position in shares of Carrier Global during the 3rd quarter valued at $40,000. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Carrier Global during the third quarter worth $44,000. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on CARR shares. Citigroup cut their price target on Carrier Global from $94.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Royal Bank of Canada decreased their target price on Carrier Global from $87.00 to $86.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Oppenheimer increased their price objective on Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. The Goldman Sachs Group assumed coverage on Carrier Global in a research note on Thursday, December 12th. They issued a “buy” rating and a $96.00 price objective on the stock. Finally, JPMorgan Chase & Co. cut their target price on Carrier Global from $83.00 to $77.00 and set a “neutral” rating for the company in a research report on Wednesday, January 15th. Eight equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Carrier Global presently has an average rating of “Moderate Buy” and a consensus target price of $83.93.

Read Our Latest Research Report on CARR

Carrier Global Stock Performance

CARR opened at $70.61 on Wednesday. The business’s 50-day moving average price is $71.74 and its two-hundred day moving average price is $72.40. Carrier Global Co. has a 1 year low of $53.13 and a 1 year high of $83.32. The company has a market capitalization of $63.35 billion, a price-to-earnings ratio of 17.88, a P/E/G ratio of 2.24 and a beta of 1.36. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.08 and a quick ratio of 0.82.

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

Carrier Global Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, December 20th will be paid a $0.225 dividend. 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 1.27%. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s dividend payout ratio (DPR) is currently 22.78%.

Carrier Global Profile

(Free Report)

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.

See Also

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