Southeast Asset Advisors LLC Makes New $407,000 Investment in Carrier Global Corporation $CARR

Southeast Asset Advisors LLC bought a new position in Carrier Global Corporation (NYSE:CARR) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,560 shares of the company’s stock, valued at approximately $407,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. AdvisorShares Investments LLC bought a new position in Carrier Global in the 2nd quarter valued at about $25,000. Winnow Wealth LLC acquired a new stake in shares of Carrier Global in the second quarter worth $26,000. Traub Capital Management LLC purchased a new position in shares of Carrier Global during the 2nd quarter valued at $27,000. Accredited Wealth Management LLC acquired a new stake in Carrier Global in the first quarter valued at approximately $28,000. Finally, REAP Financial Group LLC acquired a new stake in Carrier Global in the 2nd quarter worth approximately $29,000. 91.00% of the stock is owned by institutional investors and hedge funds.

Carrier Global Trading Down 1.3%

CARR stock opened at $51.75 on Tuesday. The stock has a market cap of $43.58 billion, a price-to-earnings ratio of 11.58, a price-to-earnings-growth ratio of 2.27 and a beta of 1.30. The company has a fifty day moving average price of $57.53 and a two-hundred day moving average price of $66.01. Carrier Global Corporation has a one year low of $50.30 and a one year 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.

Carrier Global (NYSE:CARR) last announced its quarterly earnings results on Tuesday, October 28th. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates 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 quarter in the prior year, the business earned $0.83 EPS. Carrier Global’s quarterly 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. Equities analysts anticipate that Carrier Global Corporation will post 2.99 EPS for the current year.

Carrier Global declared that its board has approved a stock buyback plan on Tuesday, October 28th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 10.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Carrier Global Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 18th. Shareholders of record on Wednesday, October 29th were given a dividend of $0.225 per share. The ex-dividend date was Wednesday, October 29th. This represents a $0.90 annualized dividend and a yield of 1.7%. Carrier Global’s dividend payout ratio (DPR) is presently 20.13%.

Wall Street Analysts Forecast Growth

CARR has been the topic of a number of recent research reports. Wells Fargo & Company decreased 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 note on Wednesday, October 29th. Zacks Research upgraded Carrier Global from a “strong sell” rating to a “hold” rating in a report on Friday. Deutsche Bank Aktiengesellschaft cut their price target on Carrier Global from $70.00 to $64.00 and set a “hold” rating on the stock in a report on Wednesday, October 29th. The Goldman Sachs Group decreased their price objective on Carrier Global from $76.00 to $72.00 and set a “buy” rating for the company in a report on Wednesday, October 29th. Finally, Rothschild & Co Redburn boosted their target price on Carrier Global from $66.00 to $67.00 in a research note on Thursday, October 30th. Nine analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Carrier Global currently has an average rating of “Hold” and a consensus price target of $72.94.

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.