Carmel Capital Partners LLC Increases Stock Holdings in Carrier Global Co. (NYSE:CARR)

Carmel Capital Partners LLC lifted its position in Carrier Global Co. (NYSE:CARR) by 7.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,307 shares of the company’s stock after buying an additional 1,082 shares during the quarter. Carmel Capital Partners LLC’s holdings in Carrier Global were worth $1,113,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CARR. Farther Finance Advisors LLC lifted its holdings in shares of Carrier Global by 4.3% in 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. QRG Capital Management Inc. lifted its holdings in shares of Carrier Global by 8.9% in 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. PDS Planning Inc purchased a new stake in shares of Carrier Global in the third quarter worth about $253,000. Amalgamated Bank lifted its holdings in shares of Carrier Global by 1.9% in the third quarter. Amalgamated Bank now owns 172,439 shares of the company’s stock worth $13,880,000 after buying an additional 3,196 shares in the last quarter. Finally, Crestwood Advisors Group LLC lifted its holdings in shares of Carrier Global by 2.2% in the third quarter. Crestwood Advisors Group LLC now owns 15,777 shares of the company’s stock worth $1,270,000 after buying an additional 341 shares in the last quarter. 91.00% of the stock is owned by hedge funds and other institutional investors.

Carrier Global Stock Up 4.5 %

Shares of NYSE CARR opened at $64.86 on Thursday. 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 Co. has a one year low of $53.33 and a one year high of $83.32. The stock has a market capitalization of $56.03 billion, a P/E ratio of 10.33, a PEG ratio of 2.01 and a beta of 1.35. The firm’s 50 day simple moving average is $66.80 and its two-hundred day simple moving average is $72.30.

Carrier Global (NYSE:CARR) last issued its earnings results on Tuesday, February 11th. The company reported $0.54 earnings per share (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 period in the previous year, the business earned $0.53 EPS. As a group, analysts expect that Carrier Global Co. will post 2.99 EPS for the current fiscal year.

Carrier Global Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, December 20th were issued a $0.225 dividend. This is a boost 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 1.39%. Carrier Global’s dividend payout ratio (DPR) is currently 14.33%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on CARR shares. The Goldman Sachs Group started 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. JPMorgan Chase & Co. upgraded shares of Carrier Global from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $77.00 to $78.00 in a research report on Wednesday. Northcoast Research started coverage on shares of Carrier Global in a research report on Friday, November 22nd. They issued a “neutral” rating on the stock. Royal Bank of Canada decreased 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. Finally, UBS Group upgraded shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price objective on the stock in a research report on Wednesday, November 13th. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Carrier Global currently has a consensus rating of “Moderate Buy” and an average price target of $82.53.

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.