Terra Alpha Investments LLC Invests $1.97 Million in Carrier Global Corporation $CARR

Terra Alpha Investments LLC acquired a new stake in shares of Carrier Global Corporation (NYSE:CARR) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 33,073 shares of the company’s stock, valued at approximately $1,974,000. Carrier Global accounts for 2.0% of Terra Alpha Investments LLC’s portfolio, making the stock its 21st biggest holding.

A number of other hedge funds have also recently made changes to their positions in the stock. Spirepoint Private Client LLC increased its holdings in Carrier Global by 547.7% in the 3rd quarter. Spirepoint Private Client LLC now owns 60,694 shares of the company’s stock worth $3,623,000 after buying an additional 51,324 shares during the period. Foster Victor Wealth Advisors LLC boosted its holdings in Carrier Global by 24.1% during the third quarter. Foster Victor Wealth Advisors LLC now owns 216,777 shares of the company’s stock worth $12,931,000 after buying an additional 42,161 shares in the last quarter. Oak Thistle LLC acquired a new stake in shares of Carrier Global during the 3rd quarter valued at about $1,986,000. Triasima Portfolio Management inc. purchased a new position in Carrier Global during the second quarter worth approximately $1,421,000. Finally, Brookstone Capital Management lifted its position in shares of Carrier Global by 220.8% during the 3rd quarter. Brookstone Capital Management now owns 51,852 shares of the company’s stock valued at $3,096,000 after buying an additional 35,691 shares in the last quarter. 91.00% of the stock is currently owned by institutional investors.

Carrier Global Trading Down 0.3%

CARR opened at $59.60 on Friday. The business has a fifty day moving average price of $54.57 and a 200 day moving average price of $59.80. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.14 and a quick ratio of 0.75. Carrier Global Corporation has a 12 month low of $50.24 and a 12 month high of $81.09. The stock has a market capitalization of $50.20 billion, a price-to-earnings ratio of 13.33, a PEG ratio of 2.40 and a beta of 1.31.

Carrier Global declared that its board has approved a stock repurchase program on Tuesday, October 28th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the company to reacquire up to 10.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Carrier Global Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 9th. Investors of record on Tuesday, January 20th will be paid a dividend of $0.24 per share. The ex-dividend date is Tuesday, January 20th. This is a positive change from Carrier Global’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.6%. Carrier Global’s payout ratio is currently 21.48%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CARR shares. Oppenheimer reaffirmed a “market perform” rating on shares of Carrier Global in a research note on Wednesday, October 29th. Robert W. Baird cut their target price on Carrier Global from $72.00 to $66.00 and set an “outperform” rating for the company in a research note on Monday, January 26th. Wells Fargo & Company reduced their price target on shares of Carrier Global from $62.00 to $59.00 and set an “equal weight” rating on the stock in a research report on Thursday, December 4th. Zacks Research upgraded shares of Carrier Global from a “strong sell” rating to a “hold” rating in a report on Friday, November 21st. Finally, Mizuho cut their target price on Carrier Global from $75.00 to $67.00 and set an “outperform” rating on the stock in a research report on Monday, January 5th. Ten equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, Carrier Global has an average rating of “Moderate Buy” and a consensus price target of $69.06.

Carrier Global Profile

Carrier Global Corporation is a leading global provider of heating, ventilation and air conditioning (HVAC), refrigeration, fire and security, and building automation solutions. The company designs, manufactures and sells a broad portfolio of products that includes air conditioners, furnaces, heat pumps, chillers, rooftop units, commercial refrigeration systems, fire and smoke detection and suppression systems, security sensors and access controls, and a range of building controls and analytics software.