Cascade Financial Partners LLC Acquires New Position in Carrier Global Corporation $CARR

Cascade Financial Partners LLC acquired a new stake in shares of Carrier Global Corporation (NYSE:CARR) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,947 shares of the company’s stock, valued at approximately $216,000.

Several other hedge funds also recently made changes to their positions in the company. CENTRAL TRUST Co lifted its stake in Carrier Global by 0.8% during the second quarter. CENTRAL TRUST Co now owns 22,370 shares of the company’s stock worth $1,637,000 after purchasing an additional 187 shares during the last quarter. Nwam LLC raised its holdings in shares of Carrier Global by 9.6% during the second quarter. Nwam LLC now owns 4,313 shares of the company’s stock worth $297,000 after purchasing an additional 379 shares during the period. Vise Technologies Inc. acquired a new stake in shares of Carrier Global during the second quarter worth $1,550,000. Allworth Financial LP lifted its position in shares of Carrier Global by 7.6% in the 2nd quarter. Allworth Financial LP now owns 178,914 shares of the company’s stock worth $13,095,000 after buying an additional 12,603 shares during the last quarter. Finally, Fidelis Capital Partners LLC boosted its holdings in shares of Carrier Global by 6.4% in the 2nd quarter. Fidelis Capital Partners LLC now owns 9,421 shares of the company’s stock valued at $690,000 after buying an additional 565 shares during the period. Institutional investors and hedge funds own 91.00% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on CARR. JPMorgan Chase & Co. dropped their price objective on shares of Carrier Global from $61.00 to $60.00 and set a “neutral” rating on the stock in a research note on Friday, October 31st. Barclays dropped their price target on Carrier Global from $82.00 to $74.00 and set an “overweight” rating on the stock in a research report on Thursday, September 11th. Rothschild & Co Redburn raised their price target on Carrier Global from $66.00 to $67.00 in a report on Thursday, October 30th. Morgan Stanley lowered their price objective on Carrier Global from $75.00 to $60.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 14th. Finally, The Goldman Sachs Group dropped their target price on Carrier Global from $76.00 to $72.00 and set a “buy” rating on the stock in a research report on Wednesday, October 29th. Eleven analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $74.18.

Carrier Global Stock Down 0.7%

CARR opened at $56.92 on Wednesday. Carrier Global Corporation has a 12 month low of $54.22 and a 12 month high of $81.09. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.14 and a quick ratio of 0.75. The stock has a market cap of $47.94 billion, a P/E ratio of 12.73, a P/E/G ratio of 2.40 and a beta of 1.30. The stock’s 50 day moving average price is $59.37 and its 200 day moving average price is $66.93.

Carrier Global (NYSE:CARR) last announced its quarterly earnings results on Tuesday, October 28th. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. The company had revenue of $5.58 billion during 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 firm’s quarterly revenue was down 6.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.83 EPS. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. As a group, research analysts predict that Carrier Global Corporation will post 2.99 earnings per share for the current year.

Carrier Global Dividend Announcement

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

Carrier Global announced that its board has approved a share repurchase program on Tuesday, October 28th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 10.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management 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.