Folger Nolan Fleming Douglas Capital Management Inc. Sells 1,246 Shares of Carrier Global Corporation $CARR

Folger Nolan Fleming Douglas Capital Management Inc. decreased its stake in shares of Carrier Global Corporation (NYSE:CARR) by 13.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,016 shares of the company’s stock after selling 1,246 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Carrier Global were worth $587,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of CARR. Nuveen LLC purchased a new position in Carrier Global during the 1st quarter valued at about $649,512,000. JPMorgan Chase & Co. lifted its position in Carrier Global by 17.6% during the 1st quarter. JPMorgan Chase & Co. now owns 31,126,869 shares of the company’s stock valued at $1,973,444,000 after acquiring an additional 4,668,929 shares during the period. Brown Advisory Inc. lifted its position in Carrier Global by 82.6% during the 1st quarter. Brown Advisory Inc. now owns 9,673,979 shares of the company’s stock valued at $613,330,000 after acquiring an additional 4,377,402 shares during the period. Alliancebernstein L.P. lifted its position in Carrier Global by 61.9% during the 1st quarter. Alliancebernstein L.P. now owns 4,318,806 shares of the company’s stock valued at $273,812,000 after acquiring an additional 1,651,873 shares during the period. Finally, Victory Capital Management Inc. lifted its position in Carrier Global by 23.5% during the 1st quarter. Victory Capital Management Inc. now owns 4,512,774 shares of the company’s stock valued at $286,110,000 after acquiring an additional 857,694 shares during the period. Institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Down 2.5%

CARR opened at $56.63 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.17 and a debt-to-equity ratio of 0.76. The firm has a 50 day moving average price of $63.02 and a 200-day moving average price of $67.19. Carrier Global Corporation has a twelve month low of $54.22 and a twelve month high of $83.32. The stock has a market capitalization of $48.19 billion, a price-to-earnings ratio of 12.34, a PEG ratio of 1.81 and a beta of 1.25.

Carrier Global (NYSE:CARR) last released its quarterly earnings data on Tuesday, July 29th. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.02. Carrier Global had a net margin of 18.33% and a return on equity of 17.83%. The firm had revenue of $6.11 billion during the quarter, compared to analysts’ expectations of $6.08 billion. Carrier Global has set its FY 2025 guidance at 3.000-3.100 EPS. Equities research analysts forecast 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. Stockholders of record on Wednesday, October 29th will be issued a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Wednesday, October 29th. Carrier Global’s payout ratio is presently 19.61%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CARR. Citigroup lowered their price target on shares of Carrier Global from $89.00 to $75.00 and set a “buy” rating for the company in a research report on Friday, September 12th. Melius began coverage on shares of Carrier Global in a research report on Tuesday, July 1st. They set a “hold” rating and a $90.00 price target for the company. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $79.00 target price on shares of Carrier Global in a report on Tuesday, July 15th. Royal Bank Of Canada decreased their target price on shares of Carrier Global from $87.00 to $75.00 and set an “outperform” rating for the company in a report on Friday, September 12th. Finally, Oppenheimer decreased their target price on shares of Carrier Global from $85.00 to $75.00 and set an “outperform” rating for the company in a report on Wednesday, September 17th. Twelve analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $78.42.

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.