Richardson Financial Services Inc. Raises Position in Carrier Global Corporation $CARR

Richardson Financial Services Inc. raised its stake in shares of Carrier Global Corporation (NYSE:CARR) by 1,536.6% during the second quarter, HoldingsChannel reports. The firm owned 671 shares of the company’s stock after buying an additional 630 shares during the quarter. Richardson Financial Services Inc.’s holdings in Carrier Global were worth $50,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Trust Co. of Toledo NA OH raised its position in Carrier Global by 18.4% during the second quarter. Trust Co. of Toledo NA OH now owns 23,307 shares of the company’s stock valued at $1,706,000 after purchasing an additional 3,620 shares during the period. Eastern Bank raised its position in Carrier Global by 1.8% during the second quarter. Eastern Bank now owns 16,537 shares of the company’s stock valued at $1,210,000 after purchasing an additional 299 shares during the period. Aberdeen Group plc raised its position in Carrier Global by 5.8% during the second quarter. Aberdeen Group plc now owns 759,386 shares of the company’s stock valued at $55,579,000 after purchasing an additional 41,728 shares during the period. PDS Planning Inc raised its position in Carrier Global by 16.7% during the second quarter. PDS Planning Inc now owns 4,353 shares of the company’s stock valued at $319,000 after purchasing an additional 623 shares during the period. Finally, Costello Asset Management INC raised its position in Carrier Global by 4.2% during the second quarter. Costello Asset Management INC now owns 3,153 shares of the company’s stock valued at $231,000 after purchasing an additional 127 shares during the period. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Carrier Global Trading Down 2.5%

Shares of NYSE:CARR opened at $56.63 on Friday. Carrier Global Corporation has a 12-month low of $54.22 and a 12-month high of $83.32. The business’s fifty day simple moving average is $63.02 and its 200-day simple moving average is $67.19. The company has a market capitalization of $48.19 billion, a PE ratio of 12.34, a P/E/G ratio of 1.76 and a beta of 1.25. The company has a current ratio of 1.17, a quick ratio of 0.80 and a debt-to-equity ratio of 0.76.

Carrier Global (NYSE:CARR) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. The firm had revenue of $6.11 billion during the quarter, compared to analysts’ expectations of $6.08 billion. Carrier Global had a return on equity of 17.83% and a net margin of 18.33%. Carrier Global has set its FY 2025 guidance at 3.000-3.100 EPS. As a group, equities research analysts predict that Carrier Global Corporation will post 2.99 earnings per share for the current fiscal year.

Carrier Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 18th. Stockholders of record on Wednesday, October 29th will be given a $0.225 dividend. The ex-dividend date of this dividend is Wednesday, October 29th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.6%. Carrier Global’s dividend payout ratio (DPR) is presently 19.61%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CARR shares. Mizuho decreased their price objective on Carrier Global from $88.00 to $80.00 and set an “outperform” rating on the stock in a research report on Monday, September 15th. Robert W. Baird cut their price objective on Carrier Global from $84.00 to $75.00 in a research report on Thursday, September 11th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $79.00 price objective on shares of Carrier Global in a research report on Tuesday, July 15th. Wells Fargo & Company reduced their price objective on Carrier Global from $75.00 to $65.00 and set an “equal weight” rating on the stock in a report on Monday, October 6th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Carrier Global from $73.00 to $70.00 and set a “hold” rating on the stock in a report on Tuesday, September 23rd. Twelve research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, Carrier Global presently has an average rating of “Moderate Buy” and a consensus price target of $78.42.

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.