Metis Global Partners LLC Lowers Position in Carrier Global Corporation $CARR

Metis Global Partners LLC trimmed its position in shares of Carrier Global Corporation (NYSE:CARR) by 11.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,220 shares of the company’s stock after selling 4,437 shares during the quarter. Metis Global Partners LLC’s holdings in Carrier Global were worth $2,578,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in CARR. AdvisorShares Investments LLC purchased a new position in Carrier Global in the second quarter valued at $25,000. REAP Financial Group LLC acquired a new stake in shares of Carrier Global during the 2nd quarter valued at about $29,000. Accredited Wealth Management LLC purchased a new position in shares of Carrier Global in the 1st quarter valued at about $28,000. Westside Investment Management Inc. raised its holdings in Carrier Global by 387.0% in the 2nd quarter. Westside Investment Management Inc. now owns 487 shares of the company’s stock worth $36,000 after purchasing an additional 387 shares during the period. Finally, NewSquare Capital LLC boosted its position in Carrier Global by 41.1% during the second quarter. NewSquare Capital LLC now owns 597 shares of the company’s stock worth $44,000 after purchasing an additional 174 shares in the last quarter. 91.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CARR shares. Morgan Stanley cut their price objective on Carrier Global from $75.00 to $60.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 14th. The Goldman Sachs Group cut their price target on shares of Carrier Global from $76.00 to $72.00 and set a “buy” 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 report on Thursday, September 11th. Zacks Research cut shares of Carrier Global from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 14th. Finally, Rothschild & Co Redburn raised their price target on shares of Carrier Global from $66.00 to $67.00 in a research note on Thursday, October 30th. Eleven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Carrier Global has a consensus rating of “Moderate Buy” and an average price target of $74.18.

Carrier Global Stock Performance

NYSE:CARR opened at $57.42 on Monday. The company’s 50-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 company 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 twelve month low of $54.22 and a twelve month high of $81.09.

Carrier Global (NYSE:CARR) last announced its quarterly earnings data 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. Carrier Global had a net margin of 18.05% and a return on equity of 16.65%. The company had revenue of $5.58 billion during the quarter, compared to analysts’ expectations of $5.65 billion. During the same quarter in the prior year, the company earned $0.83 EPS. Carrier Global’s revenue was down 6.8% compared to the same quarter last year. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. On average, sell-side analysts forecast that Carrier Global Corporation will post 2.99 earnings per share for the current fiscal year.

Carrier Global announced that its Board of Directors has initiated a stock buyback 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 stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its shares are undervalued.

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 issued a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Wednesday, October 29th. 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.