First Citizens Bank & Trust Co. Has $702,000 Stake in Carrier Global Corporation $CARR

First Citizens Bank & Trust Co. trimmed its position in Carrier Global Corporation (NYSE:CARR) by 9.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,594 shares of the company’s stock after selling 1,021 shares during the period. First Citizens Bank & Trust Co.’s holdings in Carrier Global were worth $702,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Accredited Wealth Management LLC bought a new stake in Carrier Global in the 1st quarter valued at approximately $28,000. REAP Financial Group LLC bought a new stake in shares of Carrier Global in the second quarter worth $29,000. Graybill Wealth Management LTD. bought a new stake in shares of Carrier Global in the first quarter worth $38,000. Cheviot Value Management LLC acquired a new position in Carrier Global during the first quarter worth $38,000. Finally, Richardson Financial Services Inc. grew its position in Carrier Global by 1,536.6% in the second quarter. Richardson Financial Services Inc. now owns 671 shares of the company’s stock valued at $50,000 after purchasing an additional 630 shares in the last quarter. 91.00% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on CARR shares. Barclays cut their price target on shares of Carrier Global from $82.00 to $74.00 and set an “overweight” rating on the stock in a research report on Thursday, September 11th. Deutsche Bank Aktiengesellschaft lowered their target price on Carrier Global from $73.00 to $70.00 and set a “hold” rating on the stock in a research report on Tuesday, September 23rd. Zacks Research cut Carrier Global from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 14th. Citigroup lowered their price target on Carrier Global from $89.00 to $75.00 and set a “buy” rating on the stock in a research report on Friday, September 12th. Finally, Robert W. Baird cut their price objective on Carrier Global from $84.00 to $75.00 in a report on Thursday, September 11th. Eleven analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $75.67.

Carrier Global Price Performance

NYSE:CARR opened at $57.92 on Friday. Carrier Global Corporation has a 12-month low of $54.22 and a 12-month high of $81.09. The firm has a market capitalization of $49.29 billion, a price-to-earnings ratio of 12.62, a P/E/G ratio of 1.90 and a beta of 1.25. The stock’s 50 day moving average price is $61.29 and its two-hundred day moving average price is $66.97. The company has a quick ratio of 0.80, a current ratio of 1.17 and a debt-to-equity ratio of 0.76.

Carrier Global (NYSE:CARR) last issued its earnings results on Tuesday, July 29th. The company reported $0.92 EPS for the quarter, topping 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 company 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. On average, analysts anticipate that Carrier Global Corporation will post 2.99 earnings per share for the current 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 paid a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Wednesday, October 29th. Carrier Global’s dividend payout ratio (DPR) is currently 19.61%.

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.