OFI Invest Asset Management Lowers Stock Holdings in Carrier Global Corporation $CARR

OFI Invest Asset Management lowered its holdings in shares of Carrier Global Corporation (NYSE:CARR) by 72.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 125,702 shares of the company’s stock after selling 325,435 shares during the quarter. OFI Invest Asset Management’s holdings in Carrier Global were worth $9,200,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Golden State Wealth Management LLC raised its holdings in shares of Carrier Global by 51.8% during the first quarter. Golden State Wealth Management LLC now owns 1,389 shares of the company’s stock valued at $88,000 after acquiring an additional 474 shares during the last quarter. Bessemer Group Inc. raised its holdings in shares of Carrier Global by 15.7% during the first quarter. Bessemer Group Inc. now owns 28,768 shares of the company’s stock valued at $1,823,000 after acquiring an additional 3,900 shares during the last quarter. Sowell Financial Services LLC acquired a new position in shares of Carrier Global during the first quarter valued at approximately $234,000. Ransom Advisory Ltd acquired a new position in shares of Carrier Global during the first quarter valued at approximately $400,000. Finally, Shell Asset Management Co. raised its holdings in shares of Carrier Global by 98.4% during the second quarter. Shell Asset Management Co. now owns 24,160 shares of the company’s stock valued at $1,768,000 after acquiring an additional 11,980 shares during the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Price Performance

CARR stock opened at $56.63 on Friday. The business has a fifty day moving average of $63.02 and a two-hundred day moving average of $67.19. The company has a quick ratio of 0.80, a current ratio of 1.17 and a debt-to-equity ratio of 0.76. The stock has a market cap of $48.19 billion, a price-to-earnings ratio of 12.34, a price-to-earnings-growth ratio of 1.76 and a beta of 1.25. Carrier Global Corporation has a 52-week low of $54.22 and a 52-week high of $83.32.

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

Carrier Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 18th. Shareholders of record on Wednesday, October 29th will be paid a dividend of $0.225 per share. The ex-dividend date of this dividend is Wednesday, October 29th. This represents a $0.90 annualized dividend and a yield of 1.6%. Carrier Global’s dividend payout ratio (DPR) is 19.61%.

Analyst Ratings Changes

A number of brokerages have commented on CARR. The Goldman Sachs Group reduced their target price on Carrier Global from $88.00 to $76.00 and set a “buy” rating for the company in a report on Friday, September 12th. Barclays cut their price target on Carrier Global from $82.00 to $74.00 and set an “overweight” rating for the company in a report on Thursday, September 11th. Melius started coverage on Carrier Global in a report on Tuesday, July 1st. They issued a “hold” rating and a $90.00 price target for the company. Melius Research raised Carrier Global to a “hold” rating and set a $90.00 price target for the company in a report on Tuesday, July 1st. Finally, Wolfe Research cut their price target on Carrier Global from $77.00 to $76.00 and set an “outperform” rating for the company in a report on Wednesday. Twelve equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $78.42.

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.