Garrison Point Advisors LLC Sells 1,085 Shares of Carrier Global Corporation $CARR

Garrison Point Advisors LLC reduced its position in shares of Carrier Global Corporation (NYSE:CARR) by 5.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,555 shares of the company’s stock after selling 1,085 shares during the quarter. Garrison Point Advisors LLC’s holdings in Carrier Global were worth $1,504,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. AdvisorShares Investments LLC purchased a new position in shares of Carrier Global during the second quarter valued at $25,000. Accredited Wealth Management LLC bought a new position in Carrier Global during the 1st quarter worth about $28,000. REAP Financial Group LLC bought a new position in Carrier Global during the 2nd quarter worth about $29,000. Westside Investment Management Inc. increased its position in Carrier Global by 387.0% during the 2nd quarter. Westside Investment Management Inc. now owns 487 shares of the company’s stock valued at $36,000 after purchasing an additional 387 shares during the period. Finally, Graybill Wealth Management LTD. bought a new stake in shares of Carrier Global in the 1st quarter valued at about $38,000. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CARR shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of Carrier Global in a research note on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft lowered their target price on Carrier Global from $70.00 to $64.00 and set a “hold” rating for the company in a report on Wednesday, October 29th. Wolfe Research cut their price target on Carrier Global from $76.00 to $75.00 and set an “outperform” rating on the stock in a report on Wednesday, October 29th. Zacks Research lowered Carrier Global from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 14th. Finally, Citigroup dropped their price objective on Carrier Global from $75.00 to $71.00 and set a “buy” rating on the stock in a research report on Wednesday, October 29th. 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’s stock. According to data from MarketBeat.com, Carrier Global presently has an average rating of “Moderate Buy” and a consensus price target of $74.18.

Carrier Global Trading Up 1.5%

Carrier Global stock opened at $57.42 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.75 and a current ratio of 1.14. The stock has a market cap of $48.36 billion, a PE ratio of 12.85, a price-to-earnings-growth ratio of 2.37 and a beta of 1.30. The stock has a 50-day moving average of $59.66 and a two-hundred day moving average of $66.86. Carrier Global Corporation has a one year low of $54.22 and a one year high of $81.09.

Carrier Global (NYSE:CARR) last issued its quarterly earnings results on Tuesday, October 28th. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. The business had revenue of $5.58 billion for the quarter, compared to analyst estimates of $5.65 billion. Carrier Global had a return on equity of 16.65% and a net margin of 18.05%.The company’s revenue was down 6.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.83 earnings per share. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. On average, research analysts anticipate that Carrier Global Corporation will post 2.99 EPS for the current fiscal year.

Carrier Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 18th. Shareholders of record on Wednesday, October 29th will be paid a dividend of $0.225 per share. The ex-dividend date is Wednesday, October 29th. This represents a $0.90 dividend on an annualized basis and a yield of 1.6%. Carrier Global’s dividend payout ratio is presently 20.13%.

Carrier Global announced that its Board of Directors has authorized a share repurchase plan on Tuesday, October 28th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 10.1% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are 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.