Carrier Global Corporation $CARR Shares Acquired by Advisory Alpha LLC

Advisory Alpha LLC grew its position in Carrier Global Corporation (NYSE:CARR) by 11.3% during the second quarter, Holdings Channel.com reports. The firm owned 5,853 shares of the company’s stock after acquiring an additional 594 shares during the period. Advisory Alpha LLC’s holdings in Carrier Global were worth $428,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CARR. Accredited Wealth Management LLC acquired a new stake in Carrier Global during the 1st quarter worth $28,000. REAP Financial Group LLC acquired a new stake in Carrier Global during the 2nd quarter worth $29,000. Graybill Wealth Management LTD. acquired a new stake in Carrier Global during the 1st quarter worth $38,000. Cheviot Value Management LLC acquired a new stake in Carrier Global during the 1st quarter worth $38,000. Finally, Richardson Financial Services Inc. raised its stake in Carrier Global by 1,536.6% during the 2nd quarter. Richardson Financial Services Inc. now owns 671 shares of the company’s stock worth $50,000 after acquiring an additional 630 shares in the last quarter. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on CARR shares. Oppenheimer reiterated a “market perform” rating on shares of Carrier Global in a research note on Wednesday. Deutsche Bank Aktiengesellschaft cut their price target on shares of Carrier Global from $73.00 to $70.00 and set a “hold” rating on the stock in a research note on Tuesday, September 23rd. Rothschild & Co Redburn cut their price target on shares of Carrier Global from $76.00 to $66.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 1st. Citigroup lowered their price objective on shares of Carrier Global from $75.00 to $71.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Wolfe Research lowered their price objective on shares of Carrier Global from $77.00 to $76.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 8th. Eleven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $74.82.

Carrier Global Stock Up 3.5%

Shares of NYSE:CARR opened at $60.81 on Thursday. The company has a market cap of $51.75 billion, a price-to-earnings ratio of 13.60, a PEG ratio of 1.97 and a beta of 1.25. The firm’s 50-day simple moving average is $60.85 and its 200-day simple moving average is $67.00. The company has a quick ratio of 0.80, a current ratio of 1.14 and a debt-to-equity ratio of 0.76. Carrier Global Corporation has a fifty-two week low of $54.22 and a fifty-two week high of $81.09.

Carrier Global (NYSE:CARR) last issued its 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 net margin of 18.05% and a return on equity of 16.65%. The business’s quarterly revenue was down 6.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.83 earnings per share. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. As a group, equities research analysts predict that Carrier Global Corporation will post 2.99 earnings per share for the current year.

Carrier Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 18th. Investors of record on Wednesday, October 29th will be issued 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 1.5%. Carrier Global’s payout ratio is currently 19.61%.

Carrier Global announced that its board has approved a share repurchase program on Tuesday, October 28th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 10.1% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

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.