Forsta AP Fonden Sells 5,900 Shares of Carrier Global Corporation $CARR

Forsta AP Fonden lessened its holdings in shares of Carrier Global Corporation (NYSE:CARR) by 3.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 160,000 shares of the company’s stock after selling 5,900 shares during the period. Forsta AP Fonden’s holdings in Carrier Global were worth $11,710,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. AdvisorShares Investments LLC bought a new position in Carrier Global during the 2nd quarter worth $25,000. Accredited Wealth Management LLC bought a new stake in shares of Carrier Global during the 1st quarter valued at $28,000. REAP Financial Group LLC acquired a new stake in shares of Carrier Global during the 2nd quarter worth $29,000. Westside Investment Management Inc. increased its position in shares of Carrier Global by 387.0% in the second 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, Cheviot Value Management LLC acquired a new position in Carrier Global in the first quarter valued at about $38,000. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Barclays reduced their price objective 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. Deutsche Bank Aktiengesellschaft cut their price target on shares of Carrier Global from $70.00 to $64.00 and set a “hold” rating for the company in a report on Wednesday, October 29th. Wolfe Research decreased their price objective on shares of Carrier Global from $76.00 to $75.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 29th. Morgan Stanley lowered their price objective on shares of 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. Finally, Rothschild & Co Redburn raised their target price on Carrier Global from $66.00 to $67.00 in a report on Thursday, October 30th. Ten equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $72.94.

Carrier Global Price Performance

Shares of NYSE:CARR opened at $55.14 on Friday. Carrier Global Corporation has a one year low of $54.22 and a one year high of $81.09. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.14 and a quick ratio of 0.75. The company has a market cap of $46.44 billion, a price-to-earnings ratio of 12.34, a PEG ratio of 2.34 and a beta of 1.30. The firm has a 50 day simple moving average of $59.07 and a 200 day simple moving average of $66.77.

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

Carrier Global Announces Dividend

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

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.