Empowered Funds LLC Purchases 7,358 Shares of Carrier Global Co. (NYSE:CARR)

Empowered Funds LLC lifted its position in Carrier Global Co. (NYSE:CARR) by 15.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 55,962 shares of the company’s stock after acquiring an additional 7,358 shares during the period. Empowered Funds LLC’s holdings in Carrier Global were worth $3,820,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in CARR. FSA Wealth Management LLC bought a new position in Carrier Global during the 3rd quarter valued at approximately $28,000. McClarren Financial Advisors Inc. increased its holdings in shares of Carrier Global by 246.0% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock worth $35,000 after purchasing an additional 310 shares in the last quarter. Coastline Trust Co bought a new stake in shares of Carrier Global in the 3rd quarter worth $37,000. Capital Performance Advisors LLP bought a new stake in shares of Carrier Global in the 3rd quarter worth $44,000. Finally, Ashton Thomas Securities LLC purchased a new position in shares of Carrier Global in the 3rd quarter worth $50,000. Institutional investors own 91.00% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CARR. Barclays dropped their price target on Carrier Global from $90.00 to $87.00 and set an “overweight” rating on the stock in a research note on Wednesday. UBS Group raised Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price target on the stock in a report on Wednesday, November 13th. Wells Fargo & Company decreased their price target on Carrier Global from $75.00 to $70.00 and set an “equal weight” rating on the stock in a report on Wednesday. Mizuho raised their price target 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 issued a “neutral” rating on the stock. Eight 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 data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $82.64.

Carrier Global Trading Down 2.4 %

Shares of NYSE CARR opened at $63.60 on Thursday. The business’s 50 day moving average is $68.78 and its two-hundred day moving average is $72.40. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.08 and a quick ratio of 0.82. Carrier Global Co. has a 1-year low of $53.13 and a 1-year high of $83.32. The stock has a market capitalization of $57.06 billion, a P/E ratio of 16.10, a PEG ratio of 2.11 and a beta of 1.35.

Carrier Global (NYSE:CARR) last issued its quarterly earnings data on Tuesday, February 11th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate 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 quarter in the previous year, the company earned $0.53 EPS. As a group, research analysts expect that Carrier Global Co. will post 2.52 EPS for the current year.

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

Carrier Global Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, December 20th were given a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 1.42%. The ex-dividend date was Friday, December 20th. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s payout ratio is 22.78%.

About Carrier Global

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.