Assenagon Asset Management S.A. Sells 84,695 Shares of Carrier Global Co. (NYSE:CARR)

Assenagon Asset Management S.A. decreased its position in Carrier Global Co. (NYSE:CARR) by 56.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 64,669 shares of the company’s stock after selling 84,695 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Carrier Global were worth $4,414,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. FSM Wealth Advisors LLC increased its position in shares of 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 acquiring an additional 136 shares during the period. Meridian Wealth Management LLC increased its position in shares of Carrier Global by 2.3% in the third 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 during the period. Essex Savings Bank increased its position in shares of Carrier Global by 2.2% in the third quarter. Essex Savings Bank now owns 6,608 shares of the company’s stock valued at $532,000 after acquiring an additional 144 shares during the period. Boston Financial Mangement LLC increased 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 acquiring an additional 150 shares during the period. Finally, Sittner & Nelson LLC increased its position in shares of Carrier Global by 4.9% in the third quarter. Sittner & Nelson LLC now owns 3,187 shares of the company’s stock valued at $257,000 after acquiring an additional 150 shares during the period. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Wells Fargo & Company reduced their price target on shares of Carrier Global from $80.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Oppenheimer boosted their price target on shares of Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Barclays dropped their price objective on shares of Carrier Global from $92.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Robert W. Baird dropped 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. Finally, Stephens dropped their price objective on shares of Carrier Global from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Monday, October 28th. Eight equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $83.93.

Carrier Global Price Performance

Shares of Carrier Global stock opened at $69.74 on Tuesday. The company has a market cap of $62.57 billion, a price-to-earnings ratio of 17.66, a price-to-earnings-growth ratio of 2.03 and a beta of 1.36. The company’s 50 day moving average is $71.96 and its 200 day moving average is $72.31. Carrier Global Co. has a twelve month low of $53.13 and a twelve month high of $83.32. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69.

Carrier Global Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Investors 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 is Friday, December 20th. This represents a $0.90 dividend on an annualized basis and a yield of 1.29%. Carrier Global’s dividend payout ratio is 22.78%.

Carrier Global declared that its Board of Directors has authorized a share buyback 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 stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.

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.