Ritholtz Wealth Management Raises Holdings in Carrier Global Corporation $CARR

Ritholtz Wealth Management lifted its stake in Carrier Global Corporation (NYSE:CARR) by 14.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,539 shares of the company’s stock after buying an additional 571 shares during the quarter. Ritholtz Wealth Management’s holdings in Carrier Global were worth $332,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Costello Asset Management INC boosted its stake in shares of Carrier Global by 4.2% in the second quarter. Costello Asset Management INC now owns 3,153 shares of the company’s stock worth $231,000 after buying an additional 127 shares during the last quarter. Penobscot Investment Management Company Inc. boosted its stake in shares of Carrier Global by 0.7% in the second quarter. Penobscot Investment Management Company Inc. now owns 20,833 shares of the company’s stock worth $1,525,000 after buying an additional 155 shares during the last quarter. Lindbrook Capital LLC boosted its stake in shares of Carrier Global by 1.3% in the first quarter. Lindbrook Capital LLC now owns 12,294 shares of the company’s stock worth $779,000 after buying an additional 156 shares during the last quarter. Code Waechter LLC boosted its stake in shares of Carrier Global by 5.1% in the first quarter. Code Waechter LLC now owns 3,383 shares of the company’s stock worth $214,000 after buying an additional 164 shares during the last quarter. Finally, Abacus Wealth Partners LLC raised its holdings in Carrier Global by 4.3% in the 2nd quarter. Abacus Wealth Partners LLC now owns 3,982 shares of the company’s stock worth $291,000 after purchasing an additional 165 shares during the period. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Wall Street Analyst Weigh In

CARR has been the subject of a number of analyst reports. JPMorgan Chase & Co. reduced their price target on Carrier Global from $76.00 to $61.00 and set a “neutral” rating for the company in a report on Wednesday, October 15th. Oppenheimer cut Carrier Global from an “outperform” rating to a “market perform” rating in a report on Tuesday, October 14th. Robert W. Baird reduced their price target on Carrier Global from $84.00 to $75.00 in a report on Thursday, September 11th. Wolfe Research reduced their price target on Carrier Global from $77.00 to $76.00 and set an “outperform” rating for the company in a report on Wednesday, October 8th. Finally, Melius Research raised Carrier Global to a “hold” rating and set a $90.00 price target for the company in a report on Tuesday, July 1st. Eleven investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $75.67.

Carrier Global Price Performance

Shares of Carrier Global stock opened at $57.64 on Tuesday. The business has a 50 day simple moving average of $61.94 and a two-hundred day simple moving average of $66.99. Carrier Global Corporation has a 12 month low of $54.22 and a 12 month high of $82.18. The stock has a market capitalization of $49.06 billion, a P/E ratio of 12.56, a PEG ratio of 1.85 and a beta of 1.25. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.17 and a quick ratio of 0.80.

Carrier Global (NYSE:CARR) last announced its earnings results on Tuesday, July 29th. The company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02. The business had revenue of $6.11 billion during the quarter, compared to analysts’ expectations of $6.08 billion. Carrier Global had a return on equity of 17.83% and a net margin of 18.33%. Carrier Global has set its FY 2025 guidance at 3.000-3.100 EPS. As a group, analysts predict that Carrier Global Corporation will post 2.99 EPS for the current fiscal year.

Carrier Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 18th. Stockholders of record on Wednesday, October 29th will be given a $0.225 dividend. The ex-dividend date is Wednesday, October 29th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.6%. Carrier Global’s dividend payout ratio is 19.61%.

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.