New York Life Investment Management LLC Sells 514 Shares of Carrier Global Corporation $CARR

New York Life Investment Management LLC trimmed its position in Carrier Global Corporation (NYSE:CARR) by 0.4% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 119,705 shares of the company’s stock after selling 514 shares during the period. New York Life Investment Management LLC’s holdings in Carrier Global were worth $8,761,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Golden State Wealth Management LLC grew its position in Carrier Global by 51.8% in the 1st quarter. Golden State Wealth Management LLC now owns 1,389 shares of the company’s stock worth $88,000 after purchasing an additional 474 shares in the last quarter. Ransom Advisory Ltd bought a new stake in Carrier Global in the 1st quarter worth about $400,000. Shell Asset Management Co. grew its position in Carrier Global by 98.4% in the 2nd quarter. Shell Asset Management Co. now owns 24,160 shares of the company’s stock worth $1,768,000 after purchasing an additional 11,980 shares in the last quarter. Nordea Investment Management AB grew its position in Carrier Global by 1.5% in the 2nd quarter. Nordea Investment Management AB now owns 73,150 shares of the company’s stock worth $5,369,000 after purchasing an additional 1,074 shares in the last quarter. Finally, Aberdeen Group plc grew its position in Carrier Global by 1.8% in the 1st quarter. Aberdeen Group plc now owns 717,658 shares of the company’s stock worth $44,854,000 after purchasing an additional 12,346 shares in the last quarter. 91.00% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on CARR. Jefferies Financial Group reiterated a “buy” rating on shares of Carrier Global in a research note on Thursday, September 11th. Robert W. Baird dropped their target price on shares of Carrier Global from $84.00 to $75.00 in a research note on Thursday, September 11th. Wells Fargo & Company dropped their target price on shares of Carrier Global from $75.00 to $65.00 and set an “equal weight” rating on the stock in a research note on Monday, October 6th. Barclays dropped their target price on shares of Carrier Global from $82.00 to $74.00 and set an “overweight” rating on the stock in a research note on Thursday, September 11th. Finally, Rothschild & Co Redburn dropped their target price on shares of Carrier Global from $76.00 to $66.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 1st. Eleven equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $75.41.

Carrier Global Price Performance

CARR stock opened at $58.82 on Wednesday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.80 and a current ratio of 1.17. Carrier Global Corporation has a 52 week low of $54.22 and a 52 week high of $81.09. The firm’s fifty day moving average is $60.96 and its 200 day moving average is $66.99. The firm has a market cap of $50.06 billion, a P/E ratio of 12.82, a P/E/G ratio of 1.91 and a beta of 1.25.

Carrier Global (NYSE:CARR) last released its earnings results on Tuesday, October 28th. The company reported $0.67 EPS for the quarter, meeting the consensus estimate of $0.67. Carrier Global had a net margin of 18.33% and a return on equity of 17.83%. The company had revenue of $5.58 billion for the quarter, compared to analyst estimates of $5.65 billion. During the same quarter last year, the firm earned $0.83 EPS. The firm’s quarterly revenue was down 6.8% compared to the same quarter last year. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. Research analysts predict that Carrier Global Corporation will post 2.99 earnings per share for the current year.

Carrier Global Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 18th. Shareholders of record on Wednesday, October 29th will be given a dividend of $0.225 per share. The ex-dividend date of this dividend is Wednesday, October 29th. This represents a $0.90 annualized dividend and a yield of 1.5%. Carrier Global’s dividend payout ratio is presently 19.61%.

Carrier Global announced that its Board of Directors has authorized a stock buyback plan on Tuesday, October 28th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the company to buy up to 10.1% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

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.