C WorldWide Group Holding A S Sells 556,665 Shares of Carrier Global Corporation $CARR

C WorldWide Group Holding A S lowered its stake in Carrier Global Corporation (NYSE:CARR) by 15.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,150,938 shares of the company’s stock after selling 556,665 shares during the quarter. Carrier Global makes up 3.1% of C WorldWide Group Holding A S’s investment portfolio, making the stock its 14th largest position. C WorldWide Group Holding A S owned about 0.37% of Carrier Global worth $230,617,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Costello Asset Management INC boosted its stake in Carrier Global by 4.2% in 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 boosted its stake in Carrier Global by 1.3% in 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. boosted its stake in Carrier Global by 0.7% in 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 boosted its stake in Carrier Global by 1.3% in the 1st quarter. Lindbrook Capital LLC now owns 12,294 shares of the company’s stock worth $779,000 after purchasing an additional 156 shares during the period. Finally, Code Waechter LLC boosted its stake in Carrier Global by 5.1% in the 1st quarter. Code Waechter LLC now owns 3,383 shares of the company’s stock worth $214,000 after purchasing an additional 164 shares during the period. Institutional investors own 91.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on CARR shares. Wolfe Research cut their target price on Carrier Global from $76.00 to $75.00 and set an “outperform” rating for the company in a research note on Wednesday, October 29th. Rothschild & Co Redburn raised their price target on Carrier Global from $66.00 to $67.00 in a report on Thursday, October 30th. JPMorgan Chase & Co. lowered their price target on Carrier Global from $61.00 to $60.00 and set a “neutral” rating on the stock in a report on Friday, October 31st. Deutsche Bank Aktiengesellschaft lowered their price target on Carrier Global from $70.00 to $64.00 and set a “hold” rating on the stock in a report on Wednesday, October 29th. Finally, Weiss Ratings reaffirmed 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 issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $74.18.

Carrier Global Stock Performance

Shares of NYSE CARR opened at $56.97 on Thursday. The stock has a market cap of $47.98 billion, a price-to-earnings ratio of 12.74, a P/E/G ratio of 2.41 and a beta of 1.30. The company has a current ratio of 1.14, a quick ratio of 0.75 and a debt-to-equity ratio of 0.76. Carrier Global Corporation has a 1-year low of $54.22 and a 1-year high of $81.09. The stock’s 50-day moving average is $60.00 and its 200 day moving average is $66.94.

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

Carrier Global Announces Dividend

The company 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. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Wednesday, October 29th. Carrier Global’s dividend payout ratio (DPR) is currently 20.13%.

Carrier Global declared that its Board of Directors has authorized a share buyback plan on Tuesday, October 28th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 10.1% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.

About Carrier Global

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.