MAI Capital Management Grows Stock Position in Carrier Global Corporation $CARR

MAI Capital Management grew its holdings in Carrier Global Corporation (NYSE:CARR) by 3.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 47,373 shares of the company’s stock after acquiring an additional 1,562 shares during the quarter. MAI Capital Management’s holdings in Carrier Global were worth $3,467,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Costello Asset Management INC boosted its stake in Carrier Global by 4.2% in the 2nd quarter. Costello Asset Management INC now owns 3,153 shares of the company’s stock worth $231,000 after purchasing an additional 127 shares in the last quarter. Rehmann Capital Advisory Group lifted its stake in shares of Carrier Global by 1.3% during the second quarter. Rehmann Capital Advisory Group now owns 12,083 shares of the company’s stock worth $884,000 after buying an additional 150 shares during the period. Penobscot Investment Management Company Inc. lifted its stake in shares of Carrier Global by 0.7% during the second quarter. Penobscot Investment Management Company Inc. now owns 20,833 shares of the company’s stock worth $1,525,000 after buying an additional 155 shares during the period. Abacus Wealth Partners LLC grew its holdings in shares of Carrier Global by 4.3% during the second quarter. Abacus Wealth Partners LLC now owns 3,982 shares of the company’s stock valued at $291,000 after buying an additional 165 shares during the last quarter. Finally, Kingsview Wealth Management LLC increased its position in shares of Carrier Global by 1.0% in the 2nd quarter. Kingsview Wealth Management LLC now owns 17,110 shares of the company’s stock valued at $1,252,000 after acquiring an additional 165 shares during the period. Institutional investors and hedge funds own 91.00% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on CARR. Deutsche Bank Aktiengesellschaft dropped their price target on Carrier Global from $70.00 to $64.00 and set a “hold” rating on the stock in a research note on Wednesday, October 29th. Weiss Ratings lowered Carrier Global from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, November 17th. Citigroup cut their price target on shares of Carrier Global from $75.00 to $71.00 and set a “buy” rating on the stock in a report on Wednesday, October 29th. Royal Bank Of Canada reduced their price target on shares of Carrier Global from $87.00 to $75.00 and set an “outperform” rating for the company in a research report on Friday, September 12th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Carrier Global in a report on Wednesday, October 29th. Nine 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. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $72.94.

Carrier Global Stock Up 4.0%

Shares of CARR stock opened at $52.36 on Friday. Carrier Global Corporation has a twelve month low of $50.30 and a twelve month high of $81.09. The stock has a market cap of $44.10 billion, a P/E ratio of 11.71, a P/E/G ratio of 2.27 and a beta of 1.30. The stock has a 50 day moving average of $57.71 and a 200 day moving average of $66.16. The company has a current ratio of 1.14, a quick ratio of 0.75 and a debt-to-equity ratio of 0.76.

Carrier Global (NYSE:CARR) last posted its earnings results on Tuesday, October 28th. The company reported $0.67 earnings per share (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 period in the prior year, the company posted $0.83 EPS. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. As a group, sell-side analysts expect that Carrier Global Corporation will post 2.99 EPS for the current year.

Carrier Global Announces Dividend

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

Carrier Global announced that its Board of Directors has initiated a stock buyback 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 stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership 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.