Family Capital Trust Co Decreases Holdings in Carrier Global Corporation $CARR

Family Capital Trust Co trimmed its holdings in shares of Carrier Global Corporation (NYSE:CARR) by 0.4% in the second quarter, Holdings Channel reports. The firm owned 68,895 shares of the company’s stock after selling 260 shares during the period. Carrier Global makes up 1.7% of Family Capital Trust Co’s portfolio, making the stock its 19th biggest position. Family Capital Trust Co’s holdings in Carrier Global were worth $5,042,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Stephens Inc. AR boosted its position in Carrier Global by 1.5% during the 2nd quarter. Stephens Inc. AR now owns 69,665 shares of the company’s stock worth $5,099,000 after purchasing an additional 1,010 shares during the period. Chicago Partners Investment Group LLC boosted its position in Carrier Global by 14.2% during the 2nd quarter. Chicago Partners Investment Group LLC now owns 6,914 shares of the company’s stock worth $550,000 after purchasing an additional 859 shares during the period. Wingate Wealth Advisors Inc. purchased a new stake in Carrier Global during the 2nd quarter worth $225,000. DeDora Capital Inc. purchased a new stake in Carrier Global during the 2nd quarter worth $375,000. Finally, Signature Estate & Investment Advisors LLC boosted its position in Carrier Global by 2.9% during the 2nd quarter. Signature Estate & Investment Advisors LLC now owns 11,459 shares of the company’s stock worth $839,000 after purchasing an additional 328 shares during the period. 91.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CARR has been the subject of a number of research reports. Citigroup decreased their price target on shares of Carrier Global from $89.00 to $75.00 and set a “buy” rating for the company in a research report on Friday, September 12th. Mizuho cut their price objective on shares of Carrier Global from $80.00 to $75.00 and set an “outperform” rating on the stock in a report on Friday. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Carrier Global from $73.00 to $70.00 and set a “hold” rating on the stock in a report on Tuesday, September 23rd. Royal Bank Of Canada cut their price objective on shares of Carrier Global from $87.00 to $75.00 and set an “outperform” rating on the stock in a report on Friday, September 12th. Finally, Morgan Stanley cut their price objective on shares of Carrier Global from $75.00 to $60.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 14th. Eleven investment 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. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $75.67.

Carrier Global Stock Performance

Shares of Carrier Global stock opened at $56.21 on Monday. The firm has a market cap of $47.84 billion, a PE ratio of 12.25, a price-to-earnings-growth ratio of 1.85 and a beta of 1.25. The firm’s 50-day simple moving average is $62.09 and its 200-day simple moving average is $66.99. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.80 and a current ratio of 1.17. Carrier Global Corporation has a 1 year low of $54.22 and a 1 year high of $82.18.

Carrier Global (NYSE:CARR) last issued its earnings results on Tuesday, July 29th. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02. The business had revenue of $6.11 billion for the quarter, compared to analyst estimates of $6.08 billion. Carrier Global had a net margin of 18.33% and a return on equity of 17.83%. Carrier Global has set its FY 2025 guidance at 3.000-3.100 EPS. Equities analysts forecast that Carrier Global Corporation will post 2.99 earnings per share for the current fiscal year.

Carrier Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 18th. Stockholders of record on Wednesday, October 29th will be paid a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Wednesday, October 29th. Carrier Global’s dividend payout ratio is 19.61%.

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.