Connable Office Inc. Takes Position in Carrier Global Corporation $CARR

Connable Office Inc. purchased a new stake in shares of Carrier Global Corporation (NYSE:CARR) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 9,687 shares of the company’s stock, valued at approximately $709,000.

Other large investors have also recently added to or reduced their stakes in the company. AdvisorShares Investments LLC acquired a new stake in Carrier Global during the 2nd quarter worth $25,000. Accredited Wealth Management LLC bought a new stake in shares of Carrier Global during the 1st quarter valued at about $28,000. REAP Financial Group LLC acquired a new stake in shares of Carrier Global in the 2nd quarter worth about $29,000. Westside Investment Management Inc. grew its position in Carrier Global by 387.0% in the 2nd quarter. Westside Investment Management Inc. now owns 487 shares of the company’s stock valued at $36,000 after buying an additional 387 shares in the last quarter. Finally, Graybill Wealth Management LTD. bought a new position in shares of Carrier Global during the 1st quarter valued at about $38,000. 91.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on CARR shares. Royal Bank Of Canada cut their price objective on shares of Carrier Global from $87.00 to $75.00 and set an “outperform” rating on the stock in a research report on Friday, September 12th. Mizuho dropped their price objective on Carrier Global from $80.00 to $75.00 and set an “outperform” rating on the stock in a research note on Friday, October 17th. Weiss Ratings reissued a “buy (b-)” rating on shares of Carrier Global in a report on Wednesday, October 8th. Oppenheimer restated a “market perform” rating on shares of Carrier Global in a research report on Wednesday, October 29th. Finally, The Goldman Sachs Group reduced their price objective on Carrier Global from $76.00 to $72.00 and set a “buy” rating for the company in a research note on Wednesday, October 29th. Eleven analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $74.18.

Carrier Global Stock Down 2.8%

CARR stock opened at $57.84 on Tuesday. The stock has a market capitalization of $48.72 billion, a P/E ratio of 12.94, a P/E/G ratio of 2.36 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. Carrier Global Corporation has a 1-year low of $54.22 and a 1-year high of $81.09. The business has a fifty day moving average price of $60.39 and a 200-day moving average price of $67.02.

Carrier Global (NYSE:CARR) last released its quarterly earnings data on Tuesday, October 28th. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. Carrier Global had a return on equity of 16.65% and a net margin of 18.05%.The firm had revenue of $5.58 billion during the quarter, compared to analyst estimates of $5.65 billion. During the same quarter in the prior year, the company posted $0.83 earnings per share. The business’s quarterly revenue was down 6.8% compared to the same quarter last year. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. Equities analysts forecast that Carrier Global Corporation will post 2.99 earnings per share for the current fiscal year.

Carrier Global Announces Dividend

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

Carrier Global declared that its Board of Directors has authorized a stock buyback program on Tuesday, October 28th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 10.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors 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.