Carrier Global Corporation $CARR Holdings Lifted by Synovus Financial Corp

Key Points

• Synovus Financial Corp increased its stake in Carrier Global Corporation by 44.2%, acquiring a total of 80,754 shares valued at approximately $5.12 million.
• Carrier Global reported a quarterly EPS of $0.92, surpassing analysts' expectations, with revenue of $6.11 billion beating estimates of $6.08 billion.
• The company declared a quarterly dividend of $0.225 per share, marking a 1.3% dividend yield and a payout ratio of 19.61%.

Synovus Financial Corp grew its position in Carrier Global Corporation (NYSE:CARR - Free Report) by 44.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 80,754 shares of the company's stock after purchasing an additional 24,750 shares during the period. Synovus Financial Corp's holdings in Carrier Global were worth $5,120,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of CARR. Park Square Financial Group LLC bought a new position in Carrier Global in the 4th quarter worth about $28,000. Accredited Wealth Management LLC acquired a new stake in Carrier Global during the first quarter valued at approximately $28,000. Investment Research & Advisory Group Inc. acquired a new stake in Carrier Global during the first quarter valued at approximately $29,000. Mattson Financial Services LLC purchased a new stake in shares of Carrier Global in the 4th quarter valued at approximately $31,000. Finally, Mascagni Wealth Management Inc. purchased a new stake in shares of Carrier Global in the 4th quarter valued at approximately $35,000. Institutional investors own 91.00% of the company's stock.

Carrier Global Stock Performance

Shares of CARR opened at $67.69 on Monday. The company has a current ratio of 1.17, a quick ratio of 0.80 and a debt-to-equity ratio of 0.76. The firm has a fifty day simple moving average of $71.78 and a 200 day simple moving average of $68.22. Carrier Global Corporation has a 12 month low of $54.22 and a 12 month high of $83.32. The stock has a market capitalization of $57.61 billion, a price-to-earnings ratio of 14.75, a PEG ratio of 1.86 and a beta of 1.25.

Carrier Global (NYSE:CARR - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.02. The company had revenue of $6.11 billion for the quarter, compared to analyst estimates of $6.08 billion. Carrier Global had a net margin of 18.33% and a return on equity of 17.83%. Carrier Global has set its FY 2025 guidance at 3.000-3.100 EPS. Research analysts forecast that Carrier Global Corporation will post 2.99 EPS for the current fiscal year.

Carrier Global Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Monday, July 21st were paid a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Monday, July 21st. Carrier Global's dividend payout ratio (DPR) is presently 19.61%.

Insider Buying and Selling at Carrier Global

In related news, Director Maximilian Viessmann sold 4,267,425 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $70.30, for a total value of $299,999,977.50. Following the completion of the transaction, the director owned 54,341,534 shares in the company, valued at $3,820,209,840.20. This trade represents a 7.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 7.20% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Citigroup reiterated a "buy" rating and issued a $89.00 price objective (up previously from $82.00) on shares of Carrier Global in a research note on Monday, July 14th. Royal Bank Of Canada dropped their target price on shares of Carrier Global from $89.00 to $87.00 and set an "outperform" rating on the stock in a report on Wednesday, July 30th. Wells Fargo & Company raised their price target on shares of Carrier Global from $65.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Monday, May 5th. Morgan Stanley lowered their target price on shares of Carrier Global from $78.00 to $75.00 and set an "equal weight" rating on the stock in a research note on Friday, August 8th. Finally, Northcoast Research upgraded shares of Carrier Global from a "neutral" rating to a "buy" rating and set a $85.00 price target on the stock in a research report on Friday, May 9th. Ten investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $84.47.

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.

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