Midwest Trust Co Makes New Investment in Carrier Global Corporation $CARR

Midwest Trust Co acquired a new stake in Carrier Global Corporation (NYSE:CARR) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 6,246 shares of the company’s stock, valued at approximately $457,000.

A number of other institutional investors and hedge funds have also made changes to their positions in CARR. AdvisorShares Investments LLC acquired a new position in Carrier Global in the 2nd quarter valued at about $25,000. Accredited Wealth Management LLC purchased a new position in shares of Carrier Global in the 1st quarter valued at approximately $28,000. REAP Financial Group LLC acquired a new position in shares of Carrier Global in the second quarter valued at approximately $29,000. Westside Investment Management Inc. increased its holdings in shares of Carrier Global by 387.0% in the second quarter. Westside Investment Management Inc. now owns 487 shares of the company’s stock valued at $36,000 after purchasing an additional 387 shares during the period. Finally, Cheviot Value Management LLC purchased a new stake in shares of Carrier Global during the first quarter worth approximately $38,000. 91.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CARR has been the subject of several recent analyst reports. Zacks Research cut shares of Carrier Global from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 14th. Oppenheimer reissued a “market perform” rating on shares of Carrier Global in a report on Wednesday, October 29th. Morgan Stanley lowered their price objective on Carrier Global from $75.00 to $60.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 14th. Jefferies Financial Group reiterated a “buy” rating on shares of Carrier Global in a research report on Thursday, September 11th. Finally, Wells Fargo & Company reduced their price target on Carrier Global from $65.00 to $62.00 and set an “equal weight” rating for the company in a report on Wednesday, October 29th. Ten research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $72.94.

Carrier Global Trading Down 1.9%

Shares of CARR opened at $55.89 on Thursday. Carrier Global Corporation has a twelve month low of $54.22 and a twelve month high of $81.09. 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 firm has a market capitalization of $47.07 billion, a P/E ratio of 12.50, a PEG ratio of 2.38 and a beta of 1.30. The firm’s 50-day moving average is $59.24 and its two-hundred day moving average is $66.85.

Carrier Global (NYSE:CARR) last announced its quarterly earnings results on Tuesday, October 28th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.57 by $0.10. The business 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%.The company’s quarterly revenue was down 6.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.83 EPS. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. On average, research analysts predict that Carrier Global Corporation will post 2.99 earnings per share for the current fiscal year.

Carrier Global Dividend Announcement

The company also recently announced 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. This represents a $0.90 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Wednesday, October 29th. Carrier Global’s payout ratio is presently 20.13%.

Carrier Global declared that its Board of Directors has authorized a share repurchase plan on Tuesday, October 28th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the company to reacquire up to 10.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is 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.