Summitry LLC Purchases 17,585 Shares of Carrier Global Corporation $CARR

Summitry LLC raised its holdings in shares of Carrier Global Corporation (NYSE:CARR) by 1.8% in the second quarter, HoldingsChannel.com reports. The firm owned 991,223 shares of the company’s stock after buying an additional 17,585 shares during the period. Carrier Global comprises 3.3% of Summitry LLC’s holdings, making the stock its 11th largest position. Summitry LLC’s holdings in Carrier Global were worth $72,548,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Brighton Jones LLC increased its position in shares of Carrier Global by 30.3% during the fourth quarter. Brighton Jones LLC now owns 7,958 shares of the company’s stock worth $543,000 after acquiring an additional 1,850 shares in the last quarter. Larson Financial Group LLC boosted its stake in Carrier Global by 27.5% during the 1st quarter. Larson Financial Group LLC now owns 3,071 shares of the company’s stock valued at $195,000 after purchasing an additional 663 shares during the last quarter. Graypoint LLC increased its holdings in Carrier Global by 4.2% during the 1st quarter. Graypoint LLC now owns 10,860 shares of the company’s stock worth $689,000 after purchasing an additional 438 shares in the last quarter. Bailard Inc. raised its stake in shares of Carrier Global by 32.2% in the first quarter. Bailard Inc. now owns 7,682 shares of the company’s stock worth $487,000 after purchasing an additional 1,872 shares during the last quarter. Finally, Kingsview Wealth Management LLC raised its stake in shares of Carrier Global by 8.2% in the first quarter. Kingsview Wealth Management LLC now owns 16,945 shares of the company’s stock worth $1,074,000 after purchasing an additional 1,290 shares during the last quarter. 91.00% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CARR. Wells Fargo & Company decreased their price target on Carrier Global from $65.00 to $62.00 and set an “equal weight” rating for the company in a report on Wednesday, October 29th. Mizuho reduced their target price on shares of Carrier Global from $80.00 to $75.00 and set an “outperform” rating for the company in a research note on Friday, October 17th. Jefferies Financial Group reiterated a “buy” rating on shares of Carrier Global in a report on Thursday, September 11th. Wolfe Research cut their price target on shares of Carrier Global from $76.00 to $75.00 and set an “outperform” rating on the stock in a report on Wednesday, October 29th. Finally, Zacks Research downgraded shares of Carrier Global from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 14th. Ten investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Carrier Global has a consensus rating of “Hold” and an average price target of $72.94.

Carrier Global Price Performance

Shares of NYSE:CARR opened at $53.97 on Friday. The company has a market capitalization of $45.46 billion, a P/E ratio of 12.07, a price-to-earnings-growth ratio of 2.26 and a beta of 1.30. The company’s 50-day moving average is $58.84 and its 200 day moving average is $66.76. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.75 and a current ratio of 1.14. Carrier Global Corporation has a fifty-two week low of $53.96 and a fifty-two week high of $81.09.

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

Carrier Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 18th. Investors of record on Wednesday, October 29th will be paid a $0.225 dividend. The ex-dividend date is Wednesday, October 29th. This represents a $0.90 annualized dividend and a yield of 1.7%. Carrier Global’s dividend payout ratio is presently 20.13%.

Carrier Global announced that its board has initiated a share buyback program on Tuesday, October 28th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the company to purchase up to 10.1% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is 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.