Telos Capital Management Inc. Buys 61,200 Shares of Carrier Global Corporation $CARR

Telos Capital Management Inc. boosted its stake in Carrier Global Corporation (NYSE:CARR) by 55.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 172,026 shares of the company’s stock after acquiring an additional 61,200 shares during the period. Carrier Global accounts for 1.3% of Telos Capital Management Inc.’s investment portfolio, making the stock its 21st largest holding. Telos Capital Management Inc.’s holdings in Carrier Global were worth $12,591,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in CARR. Nuveen LLC bought a new stake in Carrier Global in the first quarter valued at approximately $649,512,000. JPMorgan Chase & Co. boosted its holdings in Carrier Global by 17.6% in the first 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 last quarter. Brown Advisory Inc. lifted its stake in Carrier Global by 82.6% in the first quarter. Brown Advisory Inc. now owns 9,673,979 shares of the company’s stock valued at $613,330,000 after buying an additional 4,377,402 shares during the period. Alliancebernstein L.P. lifted its stake in Carrier Global by 61.9% in the first quarter. Alliancebernstein L.P. now owns 4,318,806 shares of the company’s stock valued at $273,812,000 after buying an additional 1,651,873 shares during the period. Finally, Nicholas Company Inc. acquired a new position in Carrier Global in the second quarter valued at approximately $67,497,000. 91.00% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Oppenheimer reissued a “market perform” rating on shares of Carrier Global in a research note on Wednesday. Rothschild & Co Redburn boosted their price target on Carrier Global from $66.00 to $67.00 in a research note on Thursday. JPMorgan Chase & Co. dropped their price target on Carrier Global from $61.00 to $60.00 and set a “neutral” rating on the stock in a research note on Friday. Mizuho dropped their price target on Carrier Global from $80.00 to $75.00 and set an “outperform” rating on the stock in a research note on Friday, October 17th. Finally, Royal Bank Of Canada dropped their price target on Carrier Global from $87.00 to $75.00 and set an “outperform” rating on the stock in a research note on Friday, September 12th. Eleven analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.18.

Carrier Global Price Performance

Shares of NYSE:CARR opened at $59.51 on Monday. The company has a quick ratio of 0.75, a current ratio of 1.14 and a debt-to-equity ratio of 0.76. Carrier Global Corporation has a twelve month low of $54.22 and a twelve month high of $81.09. The stock’s 50 day moving average is $60.56 and its 200-day moving average is $67.04. The firm has a market capitalization of $50.12 billion, a price-to-earnings ratio of 13.31, a PEG ratio of 2.36 and a beta of 1.30.

Carrier Global (NYSE:CARR) last issued its earnings results on Tuesday, October 28th. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. Carrier Global had a return on equity of 16.65% and a net margin of 18.05%.The company had revenue of $5.58 billion for the quarter, compared to analyst estimates of $5.65 billion. During the same period in the prior year, the firm earned $0.83 earnings per share. Carrier Global’s revenue for the quarter was down 6.8% on a year-over-year basis. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. Sell-side analysts forecast 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. Investors of record on Wednesday, October 29th will be given a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Wednesday, October 29th. Carrier Global’s dividend payout ratio is presently 20.13%.

Carrier Global announced that its board has approved a share repurchase plan on Tuesday, October 28th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 10.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.

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.