Laffer Tengler Investments Inc. Has $8.14 Million Stock Position in Carrier Global Corporation $CARR

Laffer Tengler Investments Inc. lessened its holdings in Carrier Global Corporation (NYSE:CARR) by 13.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 111,195 shares of the company’s stock after selling 16,786 shares during the quarter. Carrier Global accounts for approximately 1.5% of Laffer Tengler Investments Inc.’s investment portfolio, making the stock its 21st biggest position. Laffer Tengler Investments Inc.’s holdings in Carrier Global were worth $8,138,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of CARR. Brighton Jones LLC boosted its holdings in Carrier Global by 30.3% in the 4th quarter. Brighton Jones LLC now owns 7,958 shares of the company’s stock valued at $543,000 after purchasing an additional 1,850 shares during the period. Cerity Partners LLC raised its position in shares of Carrier Global by 32.2% in the first quarter. Cerity Partners LLC now owns 172,901 shares of the company’s stock valued at $10,962,000 after buying an additional 42,092 shares in the last quarter. Arizona State Retirement System boosted its stake in shares of Carrier Global by 1.6% in the first quarter. Arizona State Retirement System now owns 236,980 shares of the company’s stock valued at $15,025,000 after buying an additional 3,776 shares during the period. Schechter Investment Advisors LLC acquired a new stake in Carrier Global during the first quarter worth approximately $201,000. Finally, CWM LLC grew its position in Carrier Global by 0.6% during the first quarter. CWM LLC now owns 60,122 shares of the company’s stock worth $3,812,000 after buying an additional 346 shares in the last quarter. 91.00% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. The Goldman Sachs Group dropped their price objective on Carrier Global from $76.00 to $72.00 and set a “buy” rating for the company in a report on Wednesday, October 29th. Mizuho decreased their price target on Carrier Global from $80.00 to $75.00 and set an “outperform” rating on the stock in a research report on Friday, October 17th. Deutsche Bank Aktiengesellschaft dropped their price target on Carrier Global from $70.00 to $64.00 and set a “hold” rating for the company in a research note on Wednesday, October 29th. Wells Fargo & Company reduced their price objective on shares of Carrier Global from $65.00 to $62.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 29th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Carrier Global in a report on Wednesday, October 8th. Eleven investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.18.

Carrier Global Stock Up 1.5%

Shares of NYSE CARR opened at $57.42 on Monday. The company has a market cap of $48.36 billion, a price-to-earnings ratio of 12.85, a PEG ratio of 2.41 and a beta of 1.30. 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 Corporation has a 12 month low of $54.22 and a 12 month high of $81.09. The stock has a 50-day moving average price of $59.66 and a two-hundred day moving average price of $66.97.

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, beating the consensus estimate of $0.57 by $0.10. The company had revenue of $5.58 billion for the quarter, compared to analyst estimates 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 was down 6.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.83 EPS. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. As a group, analysts forecast that Carrier Global Corporation will post 2.99 earnings per share 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. Stockholders of record on Wednesday, October 29th will be issued a dividend of $0.225 per share. The ex-dividend date is Wednesday, October 29th. This represents a $0.90 annualized dividend and a dividend yield of 1.6%. Carrier Global’s dividend payout ratio is 20.13%.

Carrier Global announced that its board has authorized a stock buyback plan on Tuesday, October 28th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 10.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership 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.