Blue Trust Inc. Has $237,000 Position in Carrier Global Co. (NYSE:CARR)

Blue Trust Inc. lowered its position in Carrier Global Co. (NYSE:CARR) by 41.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,475 shares of the company’s stock after selling 2,483 shares during the period. Blue Trust Inc.’s holdings in Carrier Global were worth $237,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CARR. State Street Corp grew its stake in shares of Carrier Global by 1.4% in the third quarter. State Street Corp now owns 33,665,505 shares of the company’s stock worth $2,709,736,000 after acquiring an additional 469,108 shares during the last quarter. Geode Capital Management LLC increased its position in Carrier Global by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 16,937,689 shares of the company’s stock worth $1,357,961,000 after buying an additional 289,439 shares during the period. Fisher Asset Management LLC increased its position in Carrier Global by 1.9% during the 3rd quarter. Fisher Asset Management LLC now owns 14,267,109 shares of the company’s stock worth $1,148,360,000 after buying an additional 269,538 shares during the period. FMR LLC grew its holdings in shares of Carrier Global by 36.2% during the 3rd quarter. FMR LLC now owns 8,729,073 shares of the company’s stock worth $702,603,000 after purchasing an additional 2,320,909 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Carrier Global by 1.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,993,169 shares of the company’s stock worth $482,390,000 after purchasing an additional 110,988 shares in the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Stock Performance

CARR stock opened at $66.02 on Thursday. The company has a market cap of $57.33 billion, a P/E ratio of 10.51, a price-to-earnings-growth ratio of 1.90 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. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.25 and a quick ratio of 0.96. The stock’s fifty day moving average price is $67.73 and its 200-day moving average price is $72.29.

Carrier Global (NYSE:CARR) last issued its earnings results on Tuesday, February 11th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.03. Carrier Global had a return on equity of 18.82% and a net margin of 23.83%. During the same period in the previous year, the business earned $0.53 EPS. On average, equities analysts forecast that Carrier Global Co. will post 2.98 earnings per share for the current year.

Carrier Global announced that its Board of Directors has initiated a stock 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 reacquire up to 4.6% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are 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 is a boost from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date was Friday, December 20th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.36%. Carrier Global’s dividend payout ratio is currently 14.33%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on CARR shares. Wells Fargo & Company reduced their price objective on Carrier Global from $75.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 12th. Barclays lowered their price objective on Carrier Global from $90.00 to $87.00 and set an “overweight” rating for the company in a research report on Wednesday, February 12th. Mizuho upgraded Carrier Global from a “neutral” rating to an “outperform” rating and set a $78.00 price objective for the company in a research report on Friday, February 14th. The Goldman Sachs Group assumed coverage on Carrier Global in a report on Thursday, December 12th. They issued a “buy” rating and a $96.00 target price for the company. Finally, Northcoast Research started coverage on Carrier Global in a research note on Friday, November 22nd. They issued a “neutral” rating for the company. Seven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.64.

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.