Bank of Montreal Can Trims Stock Holdings in Carrier Global Corporation $CARR

Bank of Montreal Can lowered its position in Carrier Global Corporation (NYSE:CARR) by 21.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 519,210 shares of the company’s stock after selling 139,570 shares during the quarter. Bank of Montreal Can owned approximately 0.06% of Carrier Global worth $38,001,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Costello Asset Management INC lifted its stake in Carrier Global by 4.2% in the second quarter. Costello Asset Management INC now owns 3,153 shares of the company’s stock valued at $231,000 after buying an additional 127 shares during the last quarter. Rehmann Capital Advisory Group lifted its stake in Carrier Global by 1.3% in the second quarter. Rehmann Capital Advisory Group now owns 12,083 shares of the company’s stock valued at $884,000 after buying an additional 150 shares during the last quarter. Penobscot Investment Management Company Inc. lifted its stake in Carrier Global by 0.7% in the second quarter. Penobscot Investment Management Company Inc. now owns 20,833 shares of the company’s stock valued at $1,525,000 after buying an additional 155 shares during the last quarter. Lindbrook Capital LLC lifted its stake in Carrier Global by 1.3% in the first quarter. Lindbrook Capital LLC now owns 12,294 shares of the company’s stock valued at $779,000 after buying an additional 156 shares during the last quarter. Finally, Code Waechter LLC raised its stake in shares of Carrier Global by 5.1% during the first quarter. Code Waechter LLC now owns 3,383 shares of the company’s stock worth $214,000 after purchasing an additional 164 shares during the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Weiss Ratings restated a “buy (b-)” rating on shares of Carrier Global in a research note on Wednesday, October 8th. Morgan Stanley cut their price target on Carrier Global from $75.00 to $60.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 14th. Citigroup cut their price target on Carrier Global from $75.00 to $71.00 and set a “buy” rating for the company in a research note on Wednesday, October 29th. JPMorgan Chase & Co. cut their price target on Carrier Global from $61.00 to $60.00 and set a “neutral” rating for the company in a research note on Friday, October 31st. Finally, Wolfe Research cut their price target on Carrier Global from $76.00 to $75.00 and set an “outperform” rating for the company in a research note on Wednesday, October 29th. Eleven research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $74.18.

Carrier Global Trading Down 1.0%

Shares of CARR stock opened at $56.97 on Thursday. Carrier Global Corporation has a fifty-two week low of $54.22 and a fifty-two week high of $81.09. The stock has a market cap of $47.98 billion, a P/E ratio of 12.74, a P/E/G ratio of 2.41 and a beta of 1.30. The business has a fifty day simple moving average of $60.00 and a 200-day simple moving average of $66.94. 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 (NYSE:CARR) last announced its quarterly earnings results on Tuesday, October 28th. The company reported $0.67 earnings per share for the quarter, beating 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 business had revenue of $5.58 billion during the quarter, compared to analysts’ expectations of $5.65 billion. During the same quarter last year, the business posted $0.83 earnings per share. The business’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. On average, analysts forecast that Carrier Global Corporation will post 2.99 earnings per share for the current fiscal year.

Carrier Global declared that its Board of Directors has authorized a share repurchase plan on Tuesday, October 28th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the company to reacquire up to 10.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Carrier Global Dividend Announcement

The company 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 (DPR) is currently 20.13%.

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.