New York Life Investment Management LLC Reduces Stock Position in Carrier Global Corporation $CARR

New York Life Investment Management LLC lowered its position in shares of Carrier Global Corporation (NYSE:CARR) by 0.4% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 119,705 shares of the company’s stock after selling 514 shares during the period. New York Life Investment Management LLC’s holdings in Carrier Global were worth $8,761,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Accredited Wealth Management LLC purchased a new stake in Carrier Global during the 1st quarter valued at $28,000. REAP Financial Group LLC purchased a new stake in shares of Carrier Global in the 2nd quarter worth about $29,000. Graybill Wealth Management LTD. purchased a new stake in shares of Carrier Global in the 1st quarter worth about $38,000. Cheviot Value Management LLC purchased a new stake in shares of Carrier Global in the 1st quarter worth about $38,000. Finally, Richardson Financial Services Inc. lifted its position in shares of Carrier Global by 1,536.6% in the 2nd quarter. Richardson Financial Services Inc. now owns 671 shares of the company’s stock worth $50,000 after purchasing an additional 630 shares during the period. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Trading Up 0.9%

Shares of NYSE CARR opened at $58.82 on Wednesday. Carrier Global Corporation has a 1 year low of $54.22 and a 1 year high of $81.09. The stock has a market cap of $50.06 billion, a P/E ratio of 12.82, a price-to-earnings-growth ratio of 1.91 and a beta of 1.25. The firm has a 50-day moving average of $60.96 and a 200 day moving average of $66.99. 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 issued its earnings results on Tuesday, October 28th. The company reported $0.67 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.67. The business had revenue of $5.58 billion during the quarter, compared to analysts’ expectations of $5.65 billion. Carrier Global had a net margin of 18.33% and a return on equity of 17.83%. The business’s revenue for the quarter was down 6.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.83 earnings per share. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. As a group, sell-side analysts expect that Carrier Global Corporation will post 2.99 EPS for the current fiscal 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. The ex-dividend date of this dividend is Wednesday, October 29th. This represents a $0.90 annualized dividend and a yield of 1.5%. Carrier Global’s payout ratio is 19.61%.

Carrier Global declared that its Board of Directors has initiated a stock repurchase program on Tuesday, October 28th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the company to purchase up to 10.1% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Jefferies Financial Group reaffirmed a “buy” rating on shares of Carrier Global in a research report on Thursday, September 11th. Royal Bank Of Canada dropped their target price on shares of Carrier Global from $87.00 to $75.00 and set an “outperform” rating for the company in a research report on Friday, September 12th. Zacks Research cut shares of Carrier Global from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 14th. Robert W. Baird dropped their target price on shares of Carrier Global from $84.00 to $75.00 in a research report on Thursday, September 11th. Finally, Melius started coverage on shares of Carrier Global in a research report on Tuesday, July 1st. They issued a “hold” rating and a $90.00 target price for the company. Eleven investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $75.41.

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.