Sone Capital Management LLC Takes Position in Carrier Global Co. (NYSE:CARR)

Sone Capital Management LLC acquired a new position in shares of Carrier Global Co. (NYSE:CARR) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 28,952 shares of the company’s stock, valued at approximately $1,976,000.

A number of other hedge funds have also recently made changes to their positions in CARR. Merit Financial Group LLC grew its stake in shares of Carrier Global by 12.5% in the fourth quarter. Merit Financial Group LLC now owns 41,867 shares of the company’s stock valued at $2,858,000 after buying an additional 4,656 shares in the last quarter. Brooklyn Investment Group boosted its holdings in Carrier Global by 16.3% during the 4th quarter. Brooklyn Investment Group now owns 3,611 shares of the company’s stock valued at $246,000 after acquiring an additional 505 shares during the period. HB Wealth Management LLC boosted its holdings in Carrier Global by 1.2% during the 4th quarter. HB Wealth Management LLC now owns 32,000 shares of the company’s stock valued at $2,184,000 after acquiring an additional 371 shares during the period. Gilman Hill Asset Management LLC grew its position in Carrier Global by 3.0% in the 4th quarter. Gilman Hill Asset Management LLC now owns 52,549 shares of the company’s stock valued at $3,587,000 after acquiring an additional 1,551 shares in the last quarter. Finally, Lincoln Capital LLC increased its stake in Carrier Global by 2.5% during the fourth quarter. Lincoln Capital LLC now owns 119,065 shares of the company’s stock worth $8,127,000 after purchasing an additional 2,921 shares during the period. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Performance

Shares of CARR opened at $75.63 on Monday. The company has a quick ratio of 0.96, a current ratio of 1.25 and a debt-to-equity ratio of 0.77. Carrier Global Co. has a 52-week low of $54.22 and a 52-week high of $83.32. The stock has a 50 day moving average price of $64.53 and a 200 day moving average price of $67.91. The company has a market capitalization of $64.83 billion, a price-to-earnings ratio of 12.04, a price-to-earnings-growth ratio of 2.01 and a beta of 1.33.

Carrier Global (NYSE:CARR) last posted its earnings results on Thursday, May 1st. The company reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.07. Carrier Global had a net margin of 23.83% and a return on equity of 18.82%. The firm had revenue of $5.22 billion for the quarter, compared to the consensus estimate of $5.17 billion. During the same period last year, the firm posted $0.51 EPS. The company’s revenue was down 3.7% on a year-over-year basis. Research analysts predict that Carrier Global Co. will post 2.99 EPS for the current fiscal year.

Carrier Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Friday, May 2nd will be issued a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 1.19%. The ex-dividend date is Friday, May 2nd. Carrier Global’s payout ratio is 13.93%.

Wall Street Analyst Weigh In

Several research firms have recently commented on CARR. Citigroup lowered their price objective on shares of Carrier Global from $89.00 to $72.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Barclays raised their price target on shares of Carrier Global from $83.00 to $84.00 and gave the company an “overweight” rating in a research report on Wednesday, May 7th. Wells Fargo & Company upped their price objective on Carrier Global from $65.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Monday, May 5th. Northcoast Research upgraded Carrier Global from a “neutral” rating to a “buy” rating and set a $85.00 target price for the company in a report on Friday, May 9th. Finally, Wolfe Research raised Carrier Global from a “peer perform” rating to an “outperform” rating and set a $80.00 target price for the company in a research note on Monday, February 24th. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price 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.