Carrier Global Corporation $CARR Shares Sold by Garrison Point Advisors LLC

Garrison Point Advisors LLC trimmed its position in Carrier Global Corporation (NYSE:CARR) by 5.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,555 shares of the company’s stock after selling 1,085 shares during the quarter. Garrison Point Advisors LLC’s holdings in Carrier Global were worth $1,504,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC lifted its stake in Carrier Global by 30.3% during the 4th quarter. Brighton Jones LLC now owns 7,958 shares of the company’s stock valued at $543,000 after acquiring an additional 1,850 shares during the period. World Investment Advisors increased its stake in shares of Carrier Global by 38.2% in the first quarter. World Investment Advisors now owns 5,516 shares of the company’s stock worth $350,000 after acquiring an additional 1,525 shares during the period. Stratos Wealth Advisors LLC raised its holdings in shares of Carrier Global by 9.3% during the first quarter. Stratos Wealth Advisors LLC now owns 4,863 shares of the company’s stock worth $308,000 after purchasing an additional 413 shares during the last quarter. Greenleaf Trust lifted its position in Carrier Global by 6.5% during the first quarter. Greenleaf Trust now owns 25,009 shares of the company’s stock valued at $1,586,000 after purchasing an additional 1,529 shares during the period. Finally, Rehmann Capital Advisory Group lifted its position in Carrier Global by 3.9% during the first quarter. Rehmann Capital Advisory Group now owns 11,933 shares of the company’s stock valued at $757,000 after purchasing an additional 444 shares during the period. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Stock Up 1.5%

Shares of CARR opened at $57.42 on Friday. The firm has a market cap of $48.36 billion, a P/E ratio of 12.85, a PEG ratio of 2.37 and a beta of 1.30. Carrier Global Corporation has a 12 month low of $54.22 and a 12 month high of $81.09. The stock’s 50 day moving average is $59.66 and its two-hundred day moving average is $66.86. The company has a current ratio of 1.14, a quick ratio of 0.75 and a debt-to-equity ratio of 0.76.

Carrier Global (NYSE:CARR) last released its quarterly earnings results on Tuesday, October 28th. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. The firm had revenue of $5.58 billion for the quarter, compared to analysts’ expectations of $5.65 billion. Carrier Global had a net margin of 18.05% and a return on equity of 16.65%. The firm’s revenue for the quarter was down 6.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.83 EPS. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. Analysts predict 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 buyback plan on Tuesday, October 28th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 10.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Carrier Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 18th. Stockholders of record on Wednesday, October 29th will be paid a dividend of $0.225 per share. The ex-dividend date of this dividend is Wednesday, October 29th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.6%. Carrier Global’s payout ratio is currently 20.13%.

Analyst Ratings Changes

A number of research firms have weighed in on CARR. Wolfe Research reduced their price objective 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. Morgan Stanley dropped their target price on Carrier Global from $75.00 to $60.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 14th. Deutsche Bank Aktiengesellschaft decreased their price target on Carrier Global from $70.00 to $64.00 and set a “hold” rating for the company in a report on Wednesday, October 29th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Carrier Global in a research note on Thursday, September 11th. Finally, Mizuho decreased their target price on shares of Carrier Global from $80.00 to $75.00 and set an “outperform” rating for the company in a research note on Friday, October 17th. Eleven 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’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $74.18.

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.