Carrier Global Corporation $CARR Shares Sold by Dorsey & Whitney Trust CO LLC

Dorsey & Whitney Trust CO LLC trimmed its position in shares of Carrier Global Corporation (NYSE:CARR) by 20.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,772 shares of the company’s stock after selling 1,937 shares during the period. Dorsey & Whitney Trust CO LLC’s holdings in Carrier Global were worth $569,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in CARR. Nuveen LLC acquired a new stake in shares of Carrier Global in the 1st quarter valued at $649,512,000. JPMorgan Chase & Co. raised its stake in Carrier Global by 17.6% in the first quarter. JPMorgan Chase & Co. now owns 31,126,869 shares of the company’s stock valued at $1,973,444,000 after buying an additional 4,668,929 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in Carrier Global by 61.9% during the 1st quarter. Alliancebernstein L.P. now owns 4,318,806 shares of the company’s stock worth $273,812,000 after buying an additional 1,651,873 shares during the last quarter. Nicholas Company Inc. purchased a new stake in Carrier Global during the 2nd quarter worth about $67,497,000. Finally, Gates Capital Management Inc. boosted its position in shares of Carrier Global by 37.3% during the 1st quarter. Gates Capital Management Inc. now owns 2,937,756 shares of the company’s stock worth $186,254,000 after acquiring an additional 797,693 shares in the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Performance

Shares of Carrier Global stock opened at $52.05 on Wednesday. The firm’s fifty day simple moving average is $58.37 and its 200-day simple moving average is $66.54. Carrier Global Corporation has a 12 month low of $51.95 and a 12 month high of $81.09. The stock has a market capitalization of $43.84 billion, a price-to-earnings ratio of 11.64, a PEG ratio of 2.22 and a beta of 1.30. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.14 and a quick ratio of 0.75.

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 firm had revenue of $5.58 billion during the quarter, compared to analysts’ expectations of $5.65 billion. Carrier Global had a net margin of 18.05% and a return on equity of 16.65%. Carrier Global’s quarterly revenue was down 6.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.83 EPS. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. As a group, equities analysts forecast that Carrier Global Corporation will post 2.99 earnings per share for the current year.

Carrier Global Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 18th. Investors of record on Wednesday, October 29th were issued a dividend of $0.225 per share. The ex-dividend date of this dividend was Wednesday, October 29th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.7%. Carrier Global’s dividend payout ratio (DPR) is currently 20.13%.

Carrier Global announced that its board has approved a stock buyback plan on Tuesday, October 28th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the company to purchase up to 10.1% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several research firms recently weighed in on CARR. JPMorgan Chase & Co. decreased their target price on Carrier Global from $61.00 to $60.00 and set a “neutral” rating for the company in a research note on Friday, October 31st. Robert W. Baird set a $72.00 price objective on shares of Carrier Global in a report on Wednesday, October 29th. Jefferies Financial Group restated a “buy” rating on shares of Carrier Global in a report on Thursday, September 11th. Morgan Stanley dropped their target price on shares of Carrier Global from $75.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 14th. Finally, Mizuho reduced their price target 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. Nine equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price 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.