Steigerwald Gordon & Koch Inc. Sells 4,364 Shares of Carrier Global Co. (NYSE:CARR)

Steigerwald Gordon & Koch Inc. lessened its position in shares of Carrier Global Co. (NYSE:CARR) by 1.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 305,715 shares of the company’s stock after selling 4,364 shares during the period. Carrier Global accounts for 2.4% of Steigerwald Gordon & Koch Inc.’s holdings, making the stock its 18th biggest holding. Steigerwald Gordon & Koch Inc.’s holdings in Carrier Global were worth $20,868,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. FSA Wealth Management LLC acquired a new position in Carrier Global in the third quarter valued at approximately $28,000. McClarren Financial Advisors Inc. increased its stake 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 valued at $35,000 after acquiring an additional 310 shares in the last quarter. Coastline Trust Co bought a new stake in shares of Carrier Global in the 3rd quarter valued at $37,000. Country Trust Bank acquired a new position in shares of Carrier Global during the 3rd quarter valued at $40,000. Finally, Capital Performance Advisors LLP bought a new position in Carrier Global during the third quarter worth $44,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Stock Performance

Shares of CARR stock opened at $69.74 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.08 and a quick ratio of 0.82. The firm has a 50-day moving average of $71.96 and a 200-day moving average of $72.18. Carrier Global Co. has a one year low of $53.13 and a one year high of $83.32. The company has a market cap of $62.57 billion, a P/E ratio of 17.66, a P/E/G ratio of 2.03 and a beta of 1.36.

Carrier Global Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, December 20th will be given a dividend of $0.225 per share. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.90 annualized dividend and a dividend yield of 1.29%. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s dividend payout ratio (DPR) is currently 22.78%.

Carrier Global declared that its board has initiated a stock repurchase plan on Thursday, October 24th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the company to repurchase up to 4.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

CARR has been the subject of several research analyst reports. Bank of America lifted their price target on shares of Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Barclays dropped their price target on 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 reduced their price objective on Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Royal Bank of Canada decreased their price objective on Carrier Global from $87.00 to $86.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Finally, Citigroup cut their target price on Carrier Global from $94.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Eight research 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $83.93.

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.