Syon Capital LLC Buys 1,290 Shares of Carrier Global Co. (NYSE:CARR)

Syon Capital LLC raised its stake in shares of Carrier Global Co. (NYSE:CARR) by 24.2% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 6,628 shares of the company’s stock after purchasing an additional 1,290 shares during the period. Syon Capital LLC’s holdings in Carrier Global were worth $381,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CARR. Larson Financial Group LLC grew its stake in shares of Carrier Global by 76.2% during the 3rd quarter. Larson Financial Group LLC now owns 511 shares of the company’s stock valued at $28,000 after acquiring an additional 221 shares during the period. OFI Invest Asset Management bought a new position in shares of Carrier Global in the third quarter worth approximately $28,000. VisionPoint Advisory Group LLC purchased a new stake in shares of Carrier Global in the third quarter worth $30,000. Criterion Capital Advisors LLC bought a new stake in shares of Carrier Global during the 4th quarter valued at $32,000. Finally, Planned Solutions Inc. purchased a new position in shares of Carrier Global during the 4th quarter valued at $33,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Price Performance

Carrier Global stock opened at $60.51 on Friday. Carrier Global Co. has a 52-week low of $40.28 and a 52-week high of $60.87. The company has a quick ratio of 2.40, a current ratio of 1.36 and a debt-to-equity ratio of 1.31. The firm’s fifty day moving average is $56.54 and its 200 day moving average is $54.83. The company has a market cap of $54.47 billion, a price-to-earnings ratio of 42.31, a PEG ratio of 2.50 and a beta of 1.39.

Carrier Global (NYSE:CARR) last posted its earnings results on Thursday, April 25th. The company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.12. Carrier Global had a net margin of 5.41% and a return on equity of 26.01%. The firm had revenue of $6.18 billion for the quarter, compared to the consensus estimate of $6.27 billion. Sell-side analysts forecast that Carrier Global Co. will post 2.84 EPS for the current fiscal year.

Carrier Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Friday, May 3rd will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend is Thursday, May 2nd. Carrier Global’s payout ratio is 53.15%.

Insider Transactions at Carrier Global

In related news, VP Kevin J. O’connor sold 26,551 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $53.77, for a total transaction of $1,427,647.27. Following the sale, the vice president now owns 66,083 shares in the company, valued at approximately $3,553,282.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO David L. Gitlin sold 354,539 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $54.16, for a total value of $19,201,832.24. Following the sale, the chief executive officer now directly owns 422,808 shares of the company’s stock, valued at approximately $22,899,281.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Kevin J. O’connor sold 26,551 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $53.77, for a total value of $1,427,647.27. Following the transaction, the vice president now owns 66,083 shares of the company’s stock, valued at approximately $3,553,282.91. The disclosure for this sale can be found here. Company insiders own 6.95% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on CARR. Wells Fargo & Company increased their price target on Carrier Global from $59.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Friday. Royal Bank of Canada decreased their target price on Carrier Global from $63.00 to $60.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 7th. Oppenheimer upped their price target on Carrier Global from $63.00 to $64.00 and gave the stock an “outperform” rating in a research note on Friday. Citigroup lifted their price objective on shares of Carrier Global from $60.00 to $63.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Finally, Barclays boosted their target price on shares of Carrier Global from $78.00 to $79.00 and gave the stock an “overweight” rating in a report on Friday. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $62.00.

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.