Carrier Global Co. (NYSE:CARR) Shares Purchased by Fortitude Family Office LLC

by · The Markets Daily

Fortitude Family Office LLC increased its stake in shares of Carrier Global Co. (NYSE:CARR – Free Report) by 219.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,506 shares of the company’s stock after purchasing an additional 1,034 shares during the period. Fortitude Family Office LLC’s holdings in Carrier Global were worth $103,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. FSM Wealth Advisors LLC grew its holdings in Carrier Global by 2.2% in the third quarter. FSM Wealth Advisors LLC now owns 6,373 shares of the company’s stock valued at $513,000 after purchasing an additional 136 shares during the last quarter. Meridian Wealth Management LLC increased its holdings in Carrier Global by 2.3% during the 3rd quarter. Meridian Wealth Management LLC now owns 6,030 shares of the company’s stock valued at $485,000 after acquiring an additional 137 shares in the last quarter. Essex Savings Bank raised its position in Carrier Global by 2.2% during the third quarter. Essex Savings Bank now owns 6,608 shares of the company’s stock worth $532,000 after acquiring an additional 144 shares during the last quarter. Boston Financial Mangement LLC grew its position in shares of Carrier Global by 1.7% in the third quarter. Boston Financial Mangement LLC now owns 9,208 shares of the company’s stock valued at $741,000 after purchasing an additional 150 shares during the last quarter. Finally, Sittner & Nelson LLC increased its stake in shares of Carrier Global by 4.9% during the 3rd quarter. Sittner & Nelson LLC now owns 3,187 shares of the company’s stock worth $257,000 after purchasing an additional 150 shares in the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Price Performance

CARR stock opened at $68.34 on Friday. The company has a market cap of $61.32 billion, a PE ratio of 17.30, a price-to-earnings-growth ratio of 2.73 and a beta of 1.36. 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 has a 50-day moving average price of $72.67 and a two-hundred day moving average price of $71.97. Carrier Global Co. has a 12-month low of $53.13 and a 12-month high of $83.32.

Carrier Global declared that its Board of Directors has authorized a share repurchase plan 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 shares through open market purchases. Shares buyback plans are usually an indication 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. Stockholders of record on Friday, December 20th will be issued a dividend of $0.225 per share. The ex-dividend date is Friday, December 20th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.32%. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s payout ratio is presently 22.78%.

Analyst Ratings Changes

CARR has been the topic of a number of analyst reports. Mizuho increased their target price on Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. 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 research report on Monday, October 28th. Bank of America upped their target price on shares of Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, October 18th. JPMorgan Chase & Co. started coverage on shares of Carrier Global in a report on Thursday, October 10th. They set a “neutral” rating and a $83.00 price target for the company. Finally, Robert W. Baird reduced their price objective on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Eight research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $83.21.

View Our Latest Stock Report on Carrier Global

Carrier Global Company 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.

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