Carrier Global Co. (NYSE:CARR) Stock Position Raised by Steward Partners Investment Advisory LLC

Steward Partners Investment Advisory LLC lifted its stake in shares of Carrier Global Co. (NYSE:CARR) by 0.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 111,270 shares of the company’s stock after purchasing an additional 557 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Carrier Global were worth $7,595,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. FSA Wealth Management LLC acquired a new stake in Carrier Global during the 3rd quarter worth about $28,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of Carrier Global during the fourth quarter valued at approximately $31,000. Coastline Trust Co acquired a new stake in shares of Carrier Global during the third quarter valued at approximately $37,000. Capital Performance Advisors LLP purchased a new stake in shares of Carrier Global in the 3rd quarter valued at approximately $44,000. Finally, Roxbury Financial LLC acquired a new position in Carrier Global in the 4th quarter worth approximately $49,000. 91.00% of the stock is owned by hedge funds and other institutional investors.

Carrier Global Price Performance

Shares of Carrier Global stock 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. The company has a market cap of $56.03 billion, a PE ratio of 10.33, a price-to-earnings-growth ratio of 2.01 and a beta of 1.35. The firm has a fifty day moving average price of $66.80 and a two-hundred day moving average price of $72.30. Carrier Global Co. has a fifty-two week low of $53.33 and a fifty-two week high of $83.32.

Carrier Global (NYSE:CARR) last released its earnings results on Tuesday, February 11th. The company reported $0.54 earnings per share 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 previous year, the firm earned $0.53 earnings per share. Analysts expect that Carrier Global Co. will post 2.99 EPS for the current year.

Carrier Global Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, December 20th were paid a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.39%. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Friday, December 20th. Carrier Global’s dividend payout ratio is presently 14.33%.

Wall Street Analyst Weigh In

Several analysts have issued reports on CARR shares. Mizuho raised shares of Carrier Global from a “neutral” rating to an “outperform” rating and set a $78.00 target price on the stock in a research note on Friday, February 14th. The Goldman Sachs Group began coverage on Carrier Global in a research note on Thursday, December 12th. They issued a “buy” rating and a $96.00 price objective for the company. Royal Bank of Canada lowered their target price on Carrier Global from $86.00 to $76.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 12th. Wolfe Research raised shares of Carrier Global from a “peer perform” rating to an “outperform” rating and set a $80.00 price target for the company in a research report on Monday, February 24th. Finally, Northcoast Research started coverage on shares of Carrier Global in a report on Friday, November 22nd. They set a “neutral” rating for the company. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $82.53.

Carrier Global Company Profile

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.