Carrier Global (NYSE:CARR) Reaches New 1-Year Low – What’s Next?

Carrier Global Corporation (NYSE:CARR) reached a new 52-week low on Thursday . The company traded as low as $51.03 and last traded at $51.25, with a volume of 6654760 shares traded. The stock had previously closed at $52.01.

Analyst Ratings Changes

Several analysts have issued reports on the company. Wolfe Research dropped 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. Jefferies Financial Group reissued a “buy” rating on shares of Carrier Global in a report on Thursday, September 11th. Robert W. Baird set a $72.00 target price on shares of Carrier Global in a research note on Wednesday, October 29th. Mizuho dropped their price target 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. Finally, 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. Nine equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Carrier Global has an average rating of “Hold” and an average price target of $72.94.

Carrier Global Price Performance

The stock has a market cap of $44.10 billion, a price-to-earnings ratio of 11.71, a P/E/G ratio of 2.18 and a beta of 1.30. 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’s fifty day moving average is $57.71 and its two-hundred day moving average is $66.19.

Carrier Global (NYSE:CARR) last released its quarterly earnings results on Tuesday, October 28th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.57 by $0.10. Carrier Global had a return on equity of 16.65% and a net margin of 18.05%.The business had revenue of $5.58 billion during the quarter, compared to analyst estimates of $5.65 billion. During the same period last year, the business posted $0.83 earnings per share. The company’s quarterly 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. As a group, research analysts predict that Carrier Global Corporation will post 2.99 earnings per share for the current year.

Carrier Global Dividend Announcement

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

Carrier Global declared that its board has authorized a stock repurchase plan on Tuesday, October 28th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the company to repurchase up to 10.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Institutional Trading of Carrier Global

Hedge funds have recently made changes to their positions in the business. Nuveen LLC purchased a new stake in Carrier Global during the 1st quarter worth approximately $649,512,000. JPMorgan Chase & Co. grew its stake in shares of Carrier Global by 23.8% in the second quarter. JPMorgan Chase & Co. now owns 38,536,301 shares of the company’s stock worth $2,820,485,000 after acquiring an additional 7,409,432 shares in the last quarter. Norges Bank purchased a new stake in shares of Carrier Global during the second quarter worth $524,939,000. Capital International Investors raised its stake in shares of Carrier Global by 6.7% in the third quarter. Capital International Investors now owns 57,982,302 shares of the company’s stock valued at $3,461,142,000 after acquiring an additional 3,630,524 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in shares of Carrier Global by 506.1% in the third quarter. Ameriprise Financial Inc. now owns 4,187,219 shares of the company’s stock valued at $249,977,000 after acquiring an additional 3,496,372 shares in the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

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.