Financial Perspectives Inc Increases Holdings in Carrier Global Corporation $CARR

Financial Perspectives Inc increased its stake in shares of Carrier Global Corporation (NYSE:CARR) by 24.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,773 shares of the company’s stock after buying an additional 1,511 shares during the quarter. Financial Perspectives Inc’s holdings in Carrier Global were worth $569,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CARR. Nuveen LLC purchased a new stake in Carrier Global in the first quarter valued at $649,512,000. JPMorgan Chase & Co. raised its holdings in shares of Carrier Global by 17.6% in the 1st quarter. JPMorgan Chase & Co. now owns 31,126,869 shares of the company’s stock valued at $1,973,444,000 after buying an additional 4,668,929 shares during the period. Brown Advisory Inc. raised its holdings in shares of Carrier Global by 82.6% in the 1st quarter. Brown Advisory Inc. now owns 9,673,979 shares of the company’s stock valued at $613,330,000 after buying an additional 4,377,402 shares during the period. Alliancebernstein L.P. raised its holdings in shares of Carrier Global by 61.9% in the 1st quarter. Alliancebernstein L.P. now owns 4,318,806 shares of the company’s stock valued at $273,812,000 after buying an additional 1,651,873 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in shares of Carrier Global by 23.5% in the 1st quarter. Victory Capital Management Inc. now owns 4,512,774 shares of the company’s stock valued at $286,110,000 after buying an additional 857,694 shares during the period. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Down 1.0%

Carrier Global stock opened at $56.21 on Monday. Carrier Global Corporation has a fifty-two week low of $54.22 and a fifty-two week high of $82.18. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.80 and a current ratio of 1.17. The company has a market capitalization of $47.84 billion, a P/E ratio of 12.25, a PEG ratio of 1.85 and a beta of 1.25. The stock has a 50-day simple moving average of $62.09 and a 200-day simple moving average of $66.99.

Carrier Global (NYSE:CARR) last posted its earnings results 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. Carrier Global had a return on equity of 17.83% and a net margin of 18.33%.The business had revenue of $6.11 billion during the quarter, compared to the consensus estimate of $6.08 billion. Carrier Global has set its FY 2025 guidance at 3.000-3.100 EPS. Equities research analysts expect that Carrier Global Corporation will post 2.99 earnings per share for the current year.

Carrier Global Announces Dividend

The company 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 $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Wednesday, October 29th. Carrier Global’s payout ratio is presently 19.61%.

Analyst Upgrades and Downgrades

CARR has been the topic of several research analyst reports. Royal Bank Of Canada cut their price objective on Carrier Global from $87.00 to $75.00 and set an “outperform” rating on the stock in a report on Friday, September 12th. Melius Research raised Carrier Global to a “hold” rating and set a $90.00 price objective for the company in a research report on Tuesday, July 1st. Deutsche Bank Aktiengesellschaft lowered their price objective on Carrier Global from $73.00 to $70.00 and set a “hold” rating for the company in a research report on Tuesday, September 23rd. Wolfe Research lowered their price objective on Carrier Global from $77.00 to $76.00 and set an “outperform” rating for the company in a research report on Wednesday, October 8th. Finally, Citigroup lowered their price objective on Carrier Global from $89.00 to $75.00 and set a “buy” rating for the company in a research report on Friday, September 12th. Eleven research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $75.67.

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.