Carrier Global Corporation $CARR Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama trimmed its stake in shares of Carrier Global Corporation (NYSE:CARR) by 1.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 171,084 shares of the company’s stock after selling 2,452 shares during the quarter. Retirement Systems of Alabama’s holdings in Carrier Global were worth $12,522,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Costello Asset Management INC raised its position in shares of Carrier Global by 4.2% during the 2nd quarter. Costello Asset Management INC now owns 3,153 shares of the company’s stock worth $231,000 after purchasing an additional 127 shares during the period. Rehmann Capital Advisory Group raised its position 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 period. Penobscot Investment Management Company Inc. raised its position in shares of Carrier Global by 0.7% during the 2nd quarter. Penobscot Investment Management Company Inc. now owns 20,833 shares of the company’s stock worth $1,525,000 after purchasing an additional 155 shares during the period. Lindbrook Capital LLC increased its position in Carrier Global by 1.3% in the 1st quarter. Lindbrook Capital LLC now owns 12,294 shares of the company’s stock valued at $779,000 after acquiring an additional 156 shares during the period. Finally, Code Waechter LLC increased its position in Carrier Global by 5.1% in the 1st quarter. Code Waechter LLC now owns 3,383 shares of the company’s stock valued at $214,000 after acquiring an additional 164 shares during the period. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on the company. Citigroup lowered their target price on Carrier Global from $75.00 to $71.00 and set a “buy” rating on the stock in a research report on Wednesday. Morgan Stanley lowered their target price on Carrier Global from $75.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 14th. Robert W. Baird set a $72.00 target price on Carrier Global in a research report on Wednesday. Wolfe Research lowered their target price on Carrier Global from $76.00 to $75.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, Oppenheimer restated a “market perform” rating on shares of Carrier Global in a research report on Wednesday. Eleven analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $74.18.

Carrier Global Stock Performance

Shares of NYSE CARR opened at $59.51 on Friday. The stock has a fifty day moving average price of $60.56 and a two-hundred day moving average price of $66.98. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.80 and a current ratio of 1.14. The firm has a market cap of $50.12 billion, a P/E ratio of 13.31, a PEG ratio of 2.36 and a beta of 1.25. Carrier Global Corporation has a 1 year low of $54.22 and a 1 year high of $81.09.

Carrier Global (NYSE:CARR) last issued its quarterly earnings results on Tuesday, October 28th. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. The firm had revenue of $5.58 billion during 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 firm’s quarterly revenue was down 6.8% on a year-over-year basis. During the same period last year, the company posted $0.83 EPS. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. Research analysts forecast that Carrier Global Corporation will post 2.99 EPS for the current fiscal year.

Carrier Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 18th. Stockholders 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 dividend yield of 1.5%. Carrier Global’s dividend payout ratio (DPR) is currently 20.13%.

Carrier Global announced that its board has authorized a stock repurchase program on Tuesday, October 28th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 10.1% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is 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.