ProShare Advisors LLC Has $10.03 Million Position in Carrier Global Corporation $CARR

ProShare Advisors LLC raised its position in Carrier Global Corporation (NYSE:CARR) by 11.8% in the 2nd quarter, Holdings Channel.com reports. The firm owned 137,011 shares of the company’s stock after buying an additional 14,480 shares during the period. ProShare Advisors LLC’s holdings in Carrier Global were worth $10,028,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in CARR. Costello Asset Management INC increased its position in Carrier Global by 4.2% in the 2nd quarter. Costello Asset Management INC now owns 3,153 shares of the company’s stock valued at $231,000 after acquiring an additional 127 shares during the period. Rehmann Capital Advisory Group increased its holdings in Carrier Global by 1.3% in the second quarter. Rehmann Capital Advisory Group now owns 12,083 shares of the company’s stock valued at $884,000 after purchasing an additional 150 shares during the period. Penobscot Investment Management Company Inc. raised its position in Carrier Global by 0.7% during the 2nd quarter. Penobscot Investment Management Company Inc. now owns 20,833 shares of the company’s stock worth $1,525,000 after purchasing an additional 155 shares during the last quarter. Lindbrook Capital LLC lifted its holdings in Carrier Global by 1.3% during the 1st quarter. Lindbrook Capital LLC now owns 12,294 shares of the company’s stock worth $779,000 after buying an additional 156 shares during the period. Finally, Abacus Wealth Partners LLC grew its position in shares of Carrier Global by 4.3% in the 2nd quarter. Abacus Wealth Partners LLC now owns 3,982 shares of the company’s stock valued at $291,000 after buying an additional 165 shares during the last quarter. Institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Performance

NYSE:CARR opened at $55.89 on Thursday. The company has a quick ratio of 0.75, a current ratio of 1.14 and a debt-to-equity ratio of 0.76. Carrier Global Corporation has a twelve month low of $54.22 and a twelve month high of $81.09. The company has a fifty day moving average of $59.24 and a 200-day moving average of $66.85. The firm has a market capitalization of $47.07 billion, a P/E ratio of 12.50, a P/E/G ratio of 2.38 and a beta of 1.30.

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

Carrier Global declared that its Board of Directors has initiated a stock repurchase program on Tuesday, October 28th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 10.1% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Carrier Global Dividend Announcement

The company 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 of this dividend is Wednesday, October 29th. Carrier Global’s payout ratio is presently 20.13%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CARR. Weiss Ratings restated a “buy (b-)” rating on shares of Carrier Global in a research report on Wednesday, October 8th. JPMorgan Chase & Co. decreased their target price on shares of Carrier Global from $61.00 to $60.00 and set a “neutral” rating for the company in a research report on Friday, October 31st. Wells Fargo & Company dropped their price target on shares of Carrier Global from $65.00 to $62.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 29th. Mizuho decreased their price objective on shares of Carrier Global from $80.00 to $75.00 and set an “outperform” rating for the company in a research report on Friday, October 17th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Carrier Global in a research note on Thursday, September 11th. Ten research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Carrier Global presently has an average rating of “Hold” and a consensus price target of $72.94.

About Carrier Global

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.