Metis Global Partners LLC Cuts Stock Holdings in Carrier Global Corporation $CARR

Metis Global Partners LLC lessened its holdings in Carrier Global Corporation (NYSE:CARR) by 11.2% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 35,220 shares of the company’s stock after selling 4,437 shares during the period. Metis Global Partners LLC’s holdings in Carrier Global were worth $2,578,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Costello Asset Management INC lifted its holdings in Carrier Global by 4.2% during the second quarter. Costello Asset Management INC now owns 3,153 shares of the company’s stock worth $231,000 after buying an additional 127 shares during the period. Rehmann Capital Advisory Group lifted its stake in shares of Carrier Global by 1.3% during the 2nd quarter. Rehmann Capital Advisory Group now owns 12,083 shares of the company’s stock worth $884,000 after purchasing an additional 150 shares during the last quarter. Penobscot Investment Management Company Inc. boosted its position in Carrier Global by 0.7% during the second quarter. Penobscot Investment Management Company Inc. now owns 20,833 shares of the company’s stock valued at $1,525,000 after purchasing an additional 155 shares in the last quarter. Lindbrook Capital LLC grew its stake in Carrier Global by 1.3% in the first quarter. Lindbrook Capital LLC now owns 12,294 shares of the company’s stock valued at $779,000 after purchasing an additional 156 shares during the last quarter. Finally, Abacus Wealth Partners LLC grew its stake in Carrier Global by 4.3% in the second quarter. Abacus Wealth Partners LLC now owns 3,982 shares of the company’s stock valued at $291,000 after purchasing an additional 165 shares during the last quarter. 91.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Wells Fargo & Company lowered 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 report on Wednesday, October 29th. Weiss Ratings restated a “buy (b-)” rating on shares of Carrier Global in a research note on Wednesday, October 8th. JPMorgan Chase & Co. reduced their price target on Carrier Global from $61.00 to $60.00 and set a “neutral” rating on the stock in a research report on Friday, October 31st. Jefferies Financial Group reiterated a “buy” rating on shares of Carrier Global in a report on Thursday, September 11th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Carrier Global from $70.00 to $64.00 and set a “hold” rating on the stock in a research note on Wednesday, October 29th. Eleven equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Carrier Global presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.18.

Carrier Global Price Performance

Shares of CARR opened at $57.42 on Monday. The firm has a market capitalization of $48.36 billion, a PE ratio of 12.85, a price-to-earnings-growth ratio of 2.41 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. The company’s fifty day moving average price is $59.66 and its 200-day moving average price is $66.97. Carrier Global Corporation has a 1-year low of $54.22 and a 1-year high of $81.09.

Carrier Global (NYSE:CARR) last posted its quarterly earnings results on Tuesday, October 28th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.10. The business had revenue of $5.58 billion for the quarter, compared to the consensus estimate of $5.65 billion. Carrier Global had a return on equity of 16.65% and a net margin of 18.05%.The company’s quarterly revenue was down 6.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.83 EPS. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. On average, equities research analysts predict that Carrier Global Corporation will post 2.99 EPS for the current year.

Carrier Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 18th. Shareholders of record on Wednesday, October 29th will be given a dividend of $0.225 per share. The ex-dividend date of this dividend is Wednesday, October 29th. This represents a $0.90 dividend on an annualized basis and a yield of 1.6%. Carrier Global’s dividend payout ratio (DPR) is currently 20.13%.

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

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.