Sone Capital Management LLC Makes New $1.98 Million Investment in Carrier Global Co. (NYSE:CARR)

Sone Capital Management LLC purchased a new stake in shares of Carrier Global Co. (NYSE:CARR - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 28,952 shares of the company's stock, valued at approximately $1,976,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new position in Carrier Global in the 4th quarter worth $588,029,000. Wealthfront Advisers LLC raised its holdings in Carrier Global by 5,840.1% in the 4th quarter. Wealthfront Advisers LLC now owns 5,000,000 shares of the company's stock worth $341,300,000 after purchasing an additional 4,915,826 shares during the period. Brown Advisory Inc. raised its holdings in Carrier Global by 139.1% in the 4th quarter. Brown Advisory Inc. now owns 5,296,577 shares of the company's stock worth $361,544,000 after purchasing an additional 3,080,984 shares during the period. Artisan Partners Limited Partnership bought a new position in Carrier Global in the 4th quarter worth $166,061,000. Finally, Raymond James Financial Inc. bought a new position in Carrier Global in the 4th quarter worth $108,433,000. 91.00% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on CARR shares. Barclays raised their target price on Carrier Global from $83.00 to $84.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. Wolfe Research upgraded Carrier Global from a "peer perform" rating to an "outperform" rating and set a $80.00 price target for the company in a research note on Monday, February 24th. Citigroup cut their price target on Carrier Global from $89.00 to $72.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Royal Bank of Canada increased their price target on Carrier Global from $86.00 to $87.00 and gave the stock an "outperform" rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. increased their price target on Carrier Global from $66.00 to $79.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. Four equities 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 company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $83.00.

Carrier Global Price Performance

Shares of Carrier Global stock traded down $0.77 during trading on Friday, reaching $71.00. 4,450,718 shares of the stock traded hands, compared to its average volume of 4,639,541. The company has a market capitalization of $60.87 billion, a price-to-earnings ratio of 11.31, a P/E/G ratio of 2.01 and a beta of 1.33. The business has a fifty day simple moving average of $65.21 and a two-hundred day simple moving average of $67.98. 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 52-week low of $54.22 and a 52-week high of $83.32.

Carrier Global (NYSE:CARR - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.58 by $0.07. The company had revenue of $5.22 billion during the quarter, compared to analyst estimates of $5.17 billion. Carrier Global had a return on equity of 18.82% and a net margin of 23.83%. The firm's revenue was down 3.7% on a year-over-year basis. During the same quarter last year, the business posted $0.51 earnings per share. Sell-side analysts expect that Carrier Global Co. will post 2.99 EPS for the current year.

Carrier Global Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Friday, May 2nd were given a $0.225 dividend. The ex-dividend date of this dividend was Friday, May 2nd. This represents a $0.90 annualized dividend and a yield of 1.27%. Carrier Global's dividend payout ratio is currently 13.93%.

Carrier Global 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.