Cutler Investment Counsel LLC Lowers Holdings in Carrier Global Corporation $CARR

Cutler Investment Counsel LLC decreased its stake in Carrier Global Corporation (NYSE:CARR) by 0.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 153,169 shares of the company’s stock after selling 651 shares during the quarter. Carrier Global makes up 1.2% of Cutler Investment Counsel LLC’s holdings, making the stock its 26th largest position. Cutler Investment Counsel LLC’s holdings in Carrier Global were worth $11,210,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of CARR. Golden State Wealth Management LLC grew its position in shares of Carrier Global by 51.8% during the 1st quarter. Golden State Wealth Management LLC now owns 1,389 shares of the company’s stock valued at $88,000 after acquiring an additional 474 shares during the period. Bessemer Group Inc. grew its position in shares of Carrier Global by 15.7% during the 1st quarter. Bessemer Group Inc. now owns 28,768 shares of the company’s stock valued at $1,823,000 after acquiring an additional 3,900 shares during the period. Sowell Financial Services LLC acquired a new stake in shares of Carrier Global during the 1st quarter valued at about $234,000. Ransom Advisory Ltd acquired a new stake in shares of Carrier Global during the 1st quarter valued at about $400,000. Finally, Shell Asset Management Co. grew its position in shares of Carrier Global by 98.4% during the 2nd quarter. Shell Asset Management Co. now owns 24,160 shares of the company’s stock valued at $1,768,000 after acquiring an additional 11,980 shares during the period. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Robert W. Baird dropped their target price on Carrier Global from $84.00 to $75.00 in a research report on Thursday, September 11th. Melius Research upgraded Carrier Global to a “hold” rating and set a $90.00 target price on the stock in a research report on Tuesday, July 1st. Weiss Ratings reiterated a “buy (b-)” rating on shares of Carrier Global in a report on Wednesday, October 8th. Mizuho lowered their price objective on Carrier Global from $88.00 to $80.00 and set an “outperform” rating on the stock in a report on Monday, September 15th. Finally, The Goldman Sachs Group lowered their price objective on Carrier Global from $88.00 to $76.00 and set a “buy” rating on the stock in a report on Friday, September 12th. Twelve investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, Carrier Global presently has an average rating of “Moderate Buy” and an average target price of $78.42.

Carrier Global Trading Up 0.4%

CARR stock opened at $56.89 on Tuesday. 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 Corporation has a 12-month low of $54.22 and a 12-month high of $83.32. The stock has a market cap of $48.41 billion, a price-to-earnings ratio of 12.39, a PEG ratio of 1.78 and a beta of 1.25. The business’s 50-day moving average is $62.83 and its 200 day moving average is $67.16.

Carrier Global (NYSE:CARR) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.02. The company had revenue of $6.11 billion for 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. On average, sell-side analysts anticipate that Carrier Global Corporation will post 2.99 EPS for the current fiscal year.

Carrier Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 18th. Stockholders of record on Wednesday, October 29th will be issued a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Wednesday, October 29th. Carrier Global’s payout ratio is currently 19.61%.

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.