Bleakley Financial Group LLC Acquires 5,368 Shares of Carrier Global Co. (NYSE:CARR)

Bleakley Financial Group LLC raised its position in shares of Carrier Global Co. (NYSE:CARR) by 11.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 52,372 shares of the company’s stock after acquiring an additional 5,368 shares during the period. Bleakley Financial Group LLC’s holdings in Carrier Global were worth $3,575,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Massachusetts Wealth Management increased its position in Carrier Global by 7.3% during the fourth quarter. Massachusetts Wealth Management now owns 18,825 shares of the company’s stock valued at $1,285,000 after acquiring an additional 1,275 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Carrier Global by 26.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 85,179 shares of the company’s stock valued at $5,856,000 after purchasing an additional 17,861 shares during the period. Berkshire Money Management Inc. purchased a new stake in shares of Carrier Global during the fourth quarter valued at $302,000. Hager Investment Management Services LLC purchased a new stake in shares of Carrier Global during the fourth quarter valued at $879,000. Finally, 1858 Wealth Management LLC boosted its stake in shares of Carrier Global by 10.5% during the fourth quarter. 1858 Wealth Management LLC now owns 14,931 shares of the company’s stock valued at $1,019,000 after purchasing an additional 1,420 shares during the period. Institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Performance

CARR opened at $65.15 on Friday. Carrier Global Co. has a 52-week low of $53.13 and a 52-week 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. The company has a market cap of $58.45 billion, a P/E ratio of 16.49, a price-to-earnings-growth ratio of 2.12 and a beta of 1.35. The firm’s 50-day moving average price is $69.69 and its 200-day moving average price is $72.40.

Carrier Global declared that its board has initiated a stock 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 reacquire 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 stock is undervalued.

Carrier Global Increases Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 1.38%. This is an increase from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s dividend payout ratio is 22.78%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CARR. Wells Fargo & Company lowered their target price on shares of 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. UBS Group raised shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 target price for the company in a research note on Wednesday, November 13th. Citigroup lowered their target price on shares of Carrier Global from $94.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, January 13th. JPMorgan Chase & Co. lowered their price objective on shares of Carrier Global from $83.00 to $77.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. Finally, Royal Bank of Canada lowered their price objective on shares of Carrier Global from $87.00 to $86.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Eight research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus 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.