SG Americas Securities LLC Sells 249,375 Shares of Carrier Global Co. (NYSE:CARR)

SG Americas Securities LLC decreased its position in Carrier Global Co. (NYSE:CARR) by 99.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,851 shares of the company’s stock after selling 249,375 shares during the quarter. SG Americas Securities LLC’s holdings in Carrier Global were worth $126,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. State Street Corp boosted its stake in shares of Carrier Global by 1.4% during the third quarter. State Street Corp now owns 33,665,505 shares of the company’s stock valued at $2,709,736,000 after purchasing an additional 469,108 shares during the period. Geode Capital Management LLC boosted its stake in shares of Carrier Global by 1.7% during the third quarter. Geode Capital Management LLC now owns 16,937,689 shares of the company’s stock valued at $1,357,961,000 after purchasing an additional 289,439 shares during the period. Fisher Asset Management LLC boosted its stake in shares of Carrier Global by 1.9% during the third quarter. Fisher Asset Management LLC now owns 14,267,109 shares of the company’s stock valued at $1,148,360,000 after purchasing an additional 269,538 shares during the period. FMR LLC boosted its stake in shares of Carrier Global by 36.2% during the third quarter. FMR LLC now owns 8,729,073 shares of the company’s stock valued at $702,603,000 after purchasing an additional 2,320,909 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Carrier Global by 1.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,993,169 shares of the company’s stock valued at $482,390,000 after purchasing an additional 110,988 shares during the period. Institutional investors own 91.00% of the company’s stock.

Carrier Global Price Performance

CARR opened at $65.31 on Wednesday. The stock has a fifty day simple moving average of $68.99 and a two-hundred day simple moving average of $72.41. 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 company has a market cap of $58.60 billion, a price-to-earnings ratio of 16.53, a price-to-earnings-growth ratio of 2.11 and a beta of 1.35. Carrier Global Co. has a 12-month low of $53.13 and a 12-month high of $83.32.

Carrier Global (NYSE:CARR) last posted its quarterly earnings data on Tuesday, February 11th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.03. Carrier Global had a return on equity of 20.52% and a net margin of 14.98%. During the same period in the prior year, the business earned $0.53 earnings per share. Research analysts predict that Carrier Global Co. will post 2.52 earnings per share for the current fiscal year.

Carrier Global declared that its Board of Directors has authorized a stock repurchase plan on Thursday, October 24th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 4.6% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Carrier Global Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, December 20th were issued a dividend of $0.225 per share. The ex-dividend date of this dividend was Friday, December 20th. This is an increase from Carrier Global’s previous quarterly dividend of $0.19. This represents a $0.90 annualized dividend and a dividend yield of 1.38%. Carrier Global’s dividend payout ratio (DPR) is presently 22.78%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. UBS Group raised Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price objective for the company in a research note on Wednesday, November 13th. Bank of America increased their price objective on Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Wells Fargo & Company dropped their price objective on Carrier Global from $80.00 to $75.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Mizuho upped 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. Finally, Northcoast Research began coverage on Carrier Global in a report on Friday, November 22nd. They set a “neutral” rating for the company. Eight investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $83.93.

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.