Synergy Investment Management LLC Takes Position in Carrier Global Co. (NYSE:CARR)

Synergy Investment Management LLC purchased a new stake in Carrier Global Co. (NYSE:CARR) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 2,025 shares of the company’s stock, valued at approximately $138,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Bahl & Gaynor Inc. boosted its holdings in shares of Carrier Global by 0.7% in the fourth quarter. Bahl & Gaynor Inc. now owns 100,696 shares of the company’s stock valued at $6,874,000 after buying an additional 744 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Carrier Global by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,837,382 shares of the company’s stock valued at $330,200,000 after buying an additional 92,975 shares during the period. Steward Partners Investment Advisory LLC boosted its holdings in shares of Carrier Global by 0.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 111,270 shares of the company’s stock valued at $7,595,000 after buying an additional 557 shares during the period. Fidelis Capital Partners LLC boosted its holdings in shares of Carrier Global by 3.0% in the fourth quarter. Fidelis Capital Partners LLC now owns 8,719 shares of the company’s stock valued at $551,000 after buying an additional 252 shares during the period. Finally, SBI Securities Co. Ltd. bought a new stake in shares of Carrier Global in the fourth quarter worth $98,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Price Performance

NYSE:CARR opened at $62.04 on Wednesday. Carrier Global Co. has a one year low of $53.33 and a one year high of $83.32. The company has a market cap of $53.60 billion, a P/E ratio of 9.88, a P/E/G ratio of 2.01 and a beta of 1.35. The firm’s fifty day moving average price is $66.89 and its two-hundred day moving average price is $72.35. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.25 and a quick ratio of 0.96.

Carrier Global (NYSE:CARR) last released its quarterly earnings data on Tuesday, February 11th. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.51 by $0.03. Carrier Global had a net margin of 23.83% and a return on equity of 18.82%. During the same period in the prior year, the company earned $0.53 EPS. Equities analysts expect that Carrier Global Co. will post 2.99 earnings per share for the current year.

Carrier Global Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, December 20th were issued a $0.225 dividend. 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 1.45%. The ex-dividend date of this dividend was Friday, December 20th. Carrier Global’s payout ratio is currently 14.33%.

Analyst Ratings Changes

A number of brokerages have recently commented on CARR. Wells Fargo & Company cut their price objective on shares of Carrier Global from $75.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 12th. Royal Bank of Canada cut their price objective on shares of Carrier Global from $86.00 to $76.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 12th. Citigroup cut their price objective on shares of Carrier Global from $94.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. JPMorgan Chase & Co. cut their price objective on shares of Carrier Global from $83.00 to $77.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. Finally, The Goldman Sachs Group began coverage on shares of Carrier Global in a research report on Thursday, December 12th. They issued a “buy” rating and a $96.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Carrier Global has an average rating of “Moderate Buy” and a consensus target price of $82.47.

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.