Midwest Trust Co Purchases Shares of 6,246 Carrier Global Corporation $CARR

Midwest Trust Co acquired a new position in shares of Carrier Global Corporation (NYSE:CARR) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 6,246 shares of the company’s stock, valued at approximately $457,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CARR. AdvisorShares Investments LLC acquired a new stake in Carrier Global during the 2nd quarter valued at $25,000. Accredited Wealth Management LLC purchased a new stake in shares of Carrier Global in the first quarter valued at $28,000. REAP Financial Group LLC acquired a new stake in shares of Carrier Global during the second quarter valued at $29,000. Westside Investment Management Inc. increased its position in Carrier Global by 387.0% during 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 in the last quarter. Finally, Cheviot Value Management LLC acquired a new position in Carrier Global in the 1st quarter valued at about $38,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Barclays decreased their price target on shares of Carrier Global from $82.00 to $74.00 and set an “overweight” rating on the stock in a research note on Thursday, September 11th. Robert W. Baird set a $72.00 target price on shares of Carrier Global in a research report on Wednesday, October 29th. JPMorgan Chase & Co. lowered their target price on shares of Carrier Global from $61.00 to $60.00 and set a “neutral” rating for the company in a research note on Friday, October 31st. 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. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Carrier Global in a research report on Wednesday, October 8th. Ten equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Carrier Global currently has a consensus rating of “Hold” and a consensus price target of $72.94.

Carrier Global Trading Down 1.9%

CARR stock opened at $55.89 on Thursday. The company has a quick ratio of 0.75, a current ratio of 1.14 and a debt-to-equity ratio of 0.76. The company has a market cap of $47.07 billion, a price-to-earnings ratio of 12.50, a PEG ratio of 2.38 and a beta of 1.30. The business has a fifty day simple moving average of $59.24 and a 200-day simple moving average of $66.85. Carrier Global Corporation has a 52 week low of $54.22 and a 52 week high of $81.09.

Carrier Global (NYSE:CARR) last issued its 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. The firm had revenue of $5.58 billion for the quarter, compared to analysts’ expectations of $5.65 billion. Carrier Global had a return on equity of 16.65% and a net margin of 18.05%.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 firm earned $0.83 earnings per share. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. On average, equities research analysts expect that Carrier Global Corporation will post 2.99 EPS for the current year.

Carrier Global Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 1.6%. Carrier Global’s payout ratio is presently 20.13%.

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

Carrier Global Company 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.