Brookstone Capital Management Sells 186 Shares of Carrier Global Co. (NYSE:CARR)

Brookstone Capital Management cut its stake in shares of Carrier Global Co. (NYSE:CARR) by 3.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,813 shares of the company’s stock after selling 186 shares during the quarter. Brookstone Capital Management’s holdings in Carrier Global were worth $397,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CARR. Frank Rimerman Advisors LLC lifted its holdings in Carrier Global by 54,708.0% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 13,702 shares of the company’s stock worth $864,000 after purchasing an additional 13,677 shares in the last quarter. Cerity Partners LLC lifted its holdings in Carrier Global by 39.0% in the 3rd quarter. Cerity Partners LLC now owns 136,821 shares of the company’s stock worth $11,013,000 after purchasing an additional 38,365 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in Carrier Global by 12.3% in the 3rd quarter. Daiwa Securities Group Inc. now owns 100,440 shares of the company’s stock worth $8,084,000 after purchasing an additional 11,032 shares in the last quarter. Sheaff Brock Investment Advisors LLC purchased a new position in Carrier Global in the 3rd quarter worth approximately $1,068,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Carrier Global in the 3rd quarter worth approximately $793,000. 91.00% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CARR has been the topic of a number of research analyst reports. Oppenheimer boosted their price target on Carrier Global from $74.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Stephens decreased their price objective on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating on the stock in a report on Monday, October 28th. Royal Bank of Canada decreased their price objective on Carrier Global from $87.00 to $86.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Mizuho upped their price objective on Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Finally, UBS Group raised Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price objective on the stock in a report on Wednesday, November 13th. Eight research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $83.93.

Carrier Global Price Performance

CARR opened at $69.74 on Friday. Carrier Global Co. has a 12-month low of $53.13 and a 12-month high of $83.32. 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 business’s fifty day simple moving average is $71.96 and its 200-day simple moving average is $72.18. The company has a market capitalization of $62.57 billion, a price-to-earnings ratio of 17.66, a PEG ratio of 2.03 and a beta of 1.36.

Carrier Global announced that its Board of Directors has authorized a share repurchase plan on Thursday, October 24th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 4.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board of directors 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. Stockholders of record on Friday, December 20th will be given a dividend of $0.225 per share. 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 dividend yield of 1.29%. Carrier Global’s dividend payout ratio is presently 22.78%.

Carrier Global 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.