Bryn Mawr Trust Advisors LLC Invests $201,000 in Carrier Global Corporation $CARR

Bryn Mawr Trust Advisors LLC purchased a new stake in shares of Carrier Global Corporation (NYSE:CARR) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 2,741 shares of the company’s stock, valued at approximately $201,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of CARR. Savant Capital LLC increased its stake in shares of Carrier Global by 10.8% during the second quarter. Savant Capital LLC now owns 49,953 shares of the company’s stock valued at $3,656,000 after buying an additional 4,885 shares during the period. Texas Yale Capital Corp. boosted its holdings in Carrier Global by 12.3% in the second quarter. Texas Yale Capital Corp. now owns 4,738 shares of the company’s stock valued at $347,000 after acquiring an additional 520 shares in the last quarter. Modera Wealth Management LLC increased its position in Carrier Global by 2.0% during the 2nd quarter. Modera Wealth Management LLC now owns 22,147 shares of the company’s stock valued at $1,621,000 after purchasing an additional 444 shares during the period. Atlantic Union Bankshares Corp increased its position in Carrier Global by 73.2% during the 2nd quarter. Atlantic Union Bankshares Corp now owns 6,240 shares of the company’s stock valued at $457,000 after purchasing an additional 2,638 shares during the period. Finally, First Horizon Advisors Inc. raised its holdings in Carrier Global by 30.2% in the 2nd quarter. First Horizon Advisors Inc. now owns 9,363 shares of the company’s stock worth $685,000 after purchasing an additional 2,174 shares in the last quarter. Institutional investors own 91.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on CARR shares. Royal Bank Of Canada cut their target price on shares of Carrier Global from $87.00 to $75.00 and set an “outperform” rating on the stock in a research note on Friday, September 12th. JPMorgan Chase & Co. cut their price objective on Carrier Global from $61.00 to $60.00 and set a “neutral” rating on the stock in a research report on Friday, October 31st. Barclays reduced their target price on Carrier Global from $82.00 to $74.00 and set an “overweight” rating on the stock in a report on Thursday, September 11th. Zacks Research cut Carrier Global from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 14th. Finally, Morgan Stanley reduced their price target on Carrier Global from $75.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 14th. Eleven equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Carrier Global has an average rating of “Moderate Buy” and a consensus target price of $74.18.

Carrier Global Trading Up 1.5%

NYSE CARR opened at $57.42 on Monday. The stock’s fifty day moving average price is $59.66 and its 200-day moving average price is $66.97. The company has a current ratio of 1.14, a quick ratio of 0.75 and a debt-to-equity ratio of 0.76. The stock has a market cap of $48.36 billion, a P/E ratio of 12.85, a P/E/G ratio of 2.41 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.

Carrier Global (NYSE:CARR) last announced its quarterly earnings results on Tuesday, October 28th. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. The company 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%. Carrier Global’s revenue was down 6.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.83 EPS. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. As a group, equities analysts forecast that Carrier Global Corporation will post 2.99 EPS for the current fiscal year.

Carrier Global Dividend Announcement

The company 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 dividend of $0.225 per share. The ex-dividend date of this dividend is Wednesday, October 29th. This represents a $0.90 annualized dividend and a dividend yield of 1.6%. Carrier Global’s dividend payout ratio (DPR) is 20.13%.

Carrier Global declared that its board has authorized a stock buyback program on Tuesday, October 28th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the company to buy up to 10.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

About Carrier Global

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.