IFG Advisory LLC Invests $217,000 in Carrier Global Corporation $CARR

IFG Advisory LLC purchased a new position in shares of Carrier Global Corporation (NYSE:CARR) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 2,971 shares of the company’s stock, valued at approximately $217,000.

Other large investors also recently bought and sold shares of the company. AdvisorShares Investments LLC bought a new position in Carrier Global during the 2nd quarter worth approximately $25,000. Accredited Wealth Management LLC bought a new position in shares of Carrier Global in the 1st quarter worth about $28,000. REAP Financial Group LLC bought a new position in shares of Carrier Global in the 2nd quarter worth about $29,000. Graybill Wealth Management LTD. bought a new position in shares of Carrier Global in the 1st quarter worth about $38,000. Finally, Cheviot Value Management LLC bought a new position in Carrier Global in the first quarter worth about $38,000. Institutional investors own 91.00% of the company’s stock.

Carrier Global Price Performance

Shares of NYSE:CARR opened at $57.84 on Tuesday. Carrier Global Corporation has a 1-year low of $54.22 and a 1-year 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 business’s 50 day moving average is $60.39 and its 200-day moving average is $67.02. The firm has a market capitalization of $48.72 billion, a PE ratio of 12.94, a PEG ratio of 2.36 and a beta of 1.30.

Carrier Global (NYSE:CARR) last posted its quarterly earnings results 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 net margin of 18.05% and a return on equity of 16.65%. The firm had revenue of $5.58 billion for the quarter, compared to the consensus estimate of $5.65 billion. During the same quarter in the previous year, the company earned $0.83 earnings per share. The business’s 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. Sell-side 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. Shareholders of record on Wednesday, October 29th will be issued 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 of this dividend is Wednesday, October 29th. Carrier Global’s payout ratio is presently 20.13%.

Carrier Global announced that its board has authorized a share repurchase plan 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 shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CARR. Citigroup cut their price target on Carrier Global from $75.00 to $71.00 and set a “buy” rating on the stock in a report on Wednesday, October 29th. Zacks Research cut Carrier Global from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 14th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Carrier Global in a research note on Thursday, September 11th. Wells Fargo & Company cut their price objective on shares of Carrier Global from $65.00 to $62.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 29th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Carrier Global in a report on Wednesday, October 8th. Eleven analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.18.

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.