Carrier Global Corporation $CARR Shares Bought by Foster Victor Wealth Advisors LLC

Foster Victor Wealth Advisors LLC lifted its stake in shares of Carrier Global Corporation (NYSE:CARR) by 24.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 216,777 shares of the company’s stock after acquiring an additional 42,161 shares during the period. Foster Victor Wealth Advisors LLC’s holdings in Carrier Global were worth $12,931,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. AdvisorShares Investments LLC purchased a new position in Carrier Global in the 2nd quarter valued at about $25,000. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Carrier Global in the second quarter valued at approximately $26,000. Winnow Wealth LLC purchased a new position in shares of Carrier Global during the second quarter valued at approximately $26,000. Traub Capital Management LLC acquired a new stake in Carrier Global during the second quarter worth approximately $27,000. Finally, REAP Financial Group LLC acquired a new stake in Carrier Global during the second quarter worth approximately $29,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Oppenheimer reiterated a “market perform” rating on shares of Carrier Global in a report on Wednesday, October 29th. Wells Fargo & Company lowered their price objective on Carrier Global from $62.00 to $59.00 and set an “equal weight” rating for the company in a research report on Thursday, December 4th. Morgan Stanley reduced 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 price target on Carrier Global in a report on Wednesday, October 29th. Finally, Barclays dropped their price objective on shares of Carrier Global from $74.00 to $72.00 and set an “overweight” rating for the company in a research note on Wednesday, December 10th. Nine analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $72.00.

Carrier Global Price Performance

CARR stock opened at $53.78 on Friday. The company has a market cap of $45.29 billion, a PE ratio of 12.03, a price-to-earnings-growth ratio of 2.42 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. The stock has a 50-day moving average price of $55.34 and a two-hundred day moving average price of $63.55. Carrier Global Corporation has a 12-month low of $50.30 and a 12-month high of $81.09.

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, beating the consensus estimate of $0.57 by $0.10. Carrier Global had a return on equity of 16.65% and a net margin of 18.05%.The business had revenue of $5.58 billion for the quarter, compared to analyst estimates of $5.65 billion. During the same period in the previous year, the company posted $0.83 EPS. The company’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. As a group, research analysts predict that Carrier Global Corporation will post 2.99 EPS for the current year.

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

Carrier Global Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 9th. Shareholders of record on Tuesday, January 20th will be paid a dividend of $0.24 per share. This is an increase from Carrier Global’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a yield of 1.8%. The ex-dividend date is Tuesday, January 20th. Carrier Global’s payout ratio is presently 20.13%.

Carrier Global Company Profile

Carrier Global Corporation is a leading global provider of heating, ventilation and air conditioning (HVAC), refrigeration, fire and security, and building automation solutions. The company designs, manufactures and sells a broad portfolio of products that includes air conditioners, furnaces, heat pumps, chillers, rooftop units, commercial refrigeration systems, fire and smoke detection and suppression systems, security sensors and access controls, and a range of building controls and analytics software.