Carrier Global Corporation $CARR Shares Bought by Laurel Wealth Advisors LLC

Laurel Wealth Advisors LLC boosted its position in shares of Carrier Global Corporation (NYSE:CARR) by 7,290.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 721,654 shares of the company’s stock after buying an additional 711,889 shares during the period. Laurel Wealth Advisors LLC’s holdings in Carrier Global were worth $52,818,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Carrier Global by 0.5% in the second quarter. Vanguard Group Inc. now owns 93,373,143 shares of the company’s stock worth $6,833,980,000 after acquiring an additional 450,594 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Carrier Global by 23.8% in the second quarter. JPMorgan Chase & Co. now owns 38,536,301 shares of the company’s stock valued at $2,820,485,000 after acquiring an additional 7,409,432 shares during the last quarter. Nuveen LLC purchased a new position in shares of Carrier Global during the 1st quarter worth $649,512,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Carrier Global by 0.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 6,968,294 shares of the company’s stock worth $441,790,000 after buying an additional 38,233 shares during the period. Finally, Fiera Capital Corp boosted its position in shares of Carrier Global by 1.3% during the 2nd quarter. Fiera Capital Corp now owns 6,800,690 shares of the company’s stock worth $497,742,000 after purchasing an additional 86,873 shares during the period. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Stock Performance

Shares of CARR stock opened at $53.95 on Wednesday. The company has a current ratio of 1.14, a quick ratio of 0.75 and a debt-to-equity ratio of 0.76. The stock has a 50 day simple moving average of $57.39 and a 200-day simple moving average of $65.88. The company has a market cap of $45.44 billion, a price-to-earnings ratio of 12.07, a price-to-earnings-growth ratio of 2.25 and a beta of 1.30. Carrier Global Corporation has a 12-month low of $50.30 and a 12-month high of $81.09.

Carrier Global (NYSE:CARR) last announced its quarterly earnings data 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 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%.Carrier Global’s quarterly revenue was down 6.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.83 earnings per share. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. On average, equities analysts forecast that Carrier Global Corporation will post 2.99 EPS for the current year.

Carrier Global announced that its Board of Directors has approved a stock buyback plan on Tuesday, October 28th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 10.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Carrier Global Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 18th. Stockholders of record on Wednesday, October 29th were paid 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 is 20.13%.

Analysts Set New Price Targets

A number of equities analysts recently commented on CARR shares. Morgan Stanley lowered their target price on Carrier Global from $75.00 to $60.00 and set an “equal weight” rating for the company in a report on Tuesday, October 14th. Royal Bank Of Canada lowered their target price on shares of Carrier Global from $87.00 to $75.00 and set an “outperform” rating for the company in a research note on Friday, September 12th. Jefferies Financial Group reiterated a “buy” rating on shares of Carrier Global in a research note on Thursday, September 11th. Robert W. Baird set a $72.00 target price on Carrier Global in a research report on Wednesday, October 29th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Carrier Global in a report on Monday. Nine research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, Carrier Global currently has a consensus rating of “Hold” and an average target price of $72.94.

Carrier Global Company 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.