Valmark Advisers Inc. Grows Holdings in Carrier Global Corporation $CARR

Valmark Advisers Inc. raised its position in Carrier Global Corporation (NYSE:CARR) by 4.1% in the second quarter, Holdings Channel reports. The institutional investor owned 4,906 shares of the company’s stock after purchasing an additional 194 shares during the period. Valmark Advisers Inc.’s holdings in Carrier Global were worth $359,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CARR. REAP Financial Group LLC purchased a new stake in shares of Carrier Global during the second quarter worth about $29,000. Accredited Wealth Management LLC purchased a new stake in shares of Carrier Global during the first quarter worth about $28,000. Investment Research & Advisory Group Inc. purchased a new stake in shares of Carrier Global during the first quarter worth about $29,000. Graybill Wealth Management LTD. purchased a new stake in shares of Carrier Global during the first quarter worth about $38,000. Finally, Cheviot Value Management LLC purchased a new stake in shares of Carrier Global during the first quarter worth about $38,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Performance

NYSE:CARR opened at $56.63 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.17 and a quick ratio of 0.80. The firm 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. The company’s 50-day moving average is $63.02 and its two-hundred day moving average is $67.19. Carrier Global Corporation has a 1-year low of $54.22 and a 1-year high of $83.32.

Carrier Global (NYSE:CARR) last posted its earnings results 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. The company had revenue of $6.11 billion for the quarter, compared to analyst estimates of $6.08 billion. Carrier Global had a net margin of 18.33% and a return on equity of 17.83%. Carrier Global has set its FY 2025 guidance at 3.000-3.100 EPS. Analysts forecast that Carrier Global Corporation will post 2.99 EPS for the current year.

Carrier Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 18th. Shareholders of record on Wednesday, October 29th will be issued a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 1.6%. The ex-dividend date is Wednesday, October 29th. Carrier Global’s payout ratio is presently 19.61%.

Analyst Upgrades and Downgrades

CARR has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft cut their target price on shares of Carrier Global from $73.00 to $70.00 and set a “hold” rating for the company in a research note on Tuesday, September 23rd. Wells Fargo & Company dropped their price objective on shares of Carrier Global from $75.00 to $65.00 and set an “equal weight” rating for the company in a research note on Monday, October 6th. Robert W. Baird cut their price objective on shares of Carrier Global from $84.00 to $75.00 in a report on Thursday, September 11th. Citigroup cut their price objective on shares of Carrier Global from $89.00 to $75.00 and set a “buy” rating for the company in a report on Friday, September 12th. Finally, Melius initiated coverage on shares of Carrier Global in a report on Tuesday, July 1st. They issued a “hold” rating and a $90.00 price objective for the company. Twelve investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.