Dorsey & Whitney Trust CO LLC Lowers Holdings in Carrier Global Corporation $CARR

Dorsey & Whitney Trust CO LLC reduced its position in Carrier Global Corporation (NYSE:CARR) by 20.0% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 7,772 shares of the company’s stock after selling 1,937 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in Carrier Global were worth $569,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Nuveen LLC purchased a new stake in shares of Carrier Global in the first quarter valued at about $649,512,000. JPMorgan Chase & Co. raised its holdings in Carrier Global by 17.6% during the first quarter. JPMorgan Chase & Co. now owns 31,126,869 shares of the company’s stock worth $1,973,444,000 after purchasing an additional 4,668,929 shares in the last quarter. Alliancebernstein L.P. lifted its position in Carrier Global by 61.9% in the first quarter. Alliancebernstein L.P. now owns 4,318,806 shares of the company’s stock valued at $273,812,000 after purchasing an additional 1,651,873 shares during the period. Nicholas Company Inc. purchased a new stake in Carrier Global in the 2nd quarter valued at approximately $67,497,000. Finally, Gates Capital Management Inc. increased its position in Carrier Global by 37.3% during the 1st quarter. Gates Capital Management Inc. now owns 2,937,756 shares of the company’s stock worth $186,254,000 after purchasing an additional 797,693 shares during the period. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on CARR shares. Citigroup reduced their price target on Carrier Global from $75.00 to $71.00 and set a “buy” rating for the company in a report on Wednesday, October 29th. Wolfe Research reduced their target price on Carrier Global from $76.00 to $75.00 and set an “outperform” rating for the company in a report on Wednesday, October 29th. Zacks Research lowered shares of Carrier Global from a “hold” rating to a “strong sell” rating 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. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of Carrier Global in a research note on Thursday, September 11th. Nine investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $72.94.

Carrier Global Trading Down 2.0%

Shares of CARR stock opened at $52.05 on Wednesday. The stock has a market cap of $43.84 billion, a P/E ratio of 11.64, a P/E/G ratio of 2.22 and a beta of 1.30. The company has a quick ratio of 0.75, a current ratio of 1.14 and a debt-to-equity ratio of 0.76. Carrier Global Corporation has a fifty-two week low of $51.95 and a fifty-two week high of $81.09. The business has a fifty day simple moving average of $58.37 and a 200-day simple moving average of $66.54.

Carrier Global (NYSE:CARR) last issued its quarterly earnings data on Tuesday, October 28th. The company reported $0.67 EPS for the quarter, beating 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 period in the prior year, the company earned $0.83 EPS. The firm’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. On average, analysts forecast that Carrier Global Corporation will post 2.99 earnings per share for the current fiscal year.

Carrier Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 18th. Stockholders of record on Wednesday, October 29th were paid a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Wednesday, October 29th. Carrier Global’s dividend payout ratio (DPR) is 20.13%.

Carrier Global announced that its board has initiated a share repurchase plan on Tuesday, October 28th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 10.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are 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.