Synergy Investment Management LLC Purchases New Shares in Carrier Global Co. (NYSE:CARR)

Synergy Investment Management LLC purchased a new stake in Carrier Global Co. (NYSE:CARR) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,025 shares of the company’s stock, valued at approximately $138,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Farther Finance Advisors LLC grew its stake in Carrier Global by 4.3% during the third quarter. Farther Finance Advisors LLC now owns 7,198 shares of the company’s stock worth $579,000 after buying an additional 294 shares in the last quarter. Confluence Wealth Services Inc. acquired a new stake in Carrier Global during the third quarter worth about $237,000. Intact Investment Management Inc. acquired a new stake in Carrier Global during the third quarter worth about $969,000. National Pension Service grew its stake in Carrier Global by 7.8% during the third quarter. National Pension Service now owns 1,898,739 shares of the company’s stock worth $152,830,000 after buying an additional 137,971 shares in the last quarter. Finally, QRG Capital Management Inc. grew its stake in Carrier Global by 8.9% during the third quarter. QRG Capital Management Inc. now owns 67,272 shares of the company’s stock worth $5,415,000 after buying an additional 5,512 shares in the last quarter. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Carrier Global Stock Down 1.9 %

Carrier Global stock opened at $62.04 on Wednesday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.96 and a current ratio of 1.25. Carrier Global Co. has a 52-week low of $53.33 and a 52-week high of $83.32. The firm has a 50 day moving average price of $66.89 and a two-hundred day moving average price of $72.35. The firm has a market cap of $53.60 billion, a price-to-earnings ratio of 9.88, a PEG ratio of 2.01 and a beta of 1.35.

Carrier Global (NYSE:CARR) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $0.54 EPS for the quarter, topping 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 quarter in the prior year, the business posted $0.53 earnings per share. Equities analysts predict that Carrier Global Co. will post 2.99 EPS for the current year.

Carrier Global Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, December 20th were given a dividend of $0.225 per share. This is an increase from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Friday, December 20th. This represents a $0.90 annualized dividend and a dividend yield of 1.45%. Carrier Global’s dividend payout ratio (DPR) is 14.33%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Royal Bank of Canada reduced 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 note on Wednesday, February 12th. Wells Fargo & Company reduced 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 note on Wednesday, February 12th. Citigroup dropped their target price on shares of Carrier Global from $94.00 to $90.00 and set a “buy” rating for the company in a report on Monday, January 13th. JPMorgan Chase & Co. dropped their target price on shares of Carrier Global from $83.00 to $77.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. Finally, Wolfe Research raised shares of Carrier Global from a “peer perform” rating to an “outperform” rating and set a $80.00 target price for the company in a report on Monday, February 24th. Six investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Carrier Global has a consensus rating of “Moderate Buy” and a consensus price target 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.