Soundwatch Capital LLC Purchases New Holdings in Carrier Global Corporation $CARR

Soundwatch Capital LLC acquired a new position in shares of Carrier Global Corporation (NYSE:CARR) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,467,429 shares of the company’s stock, valued at approximately $1,074,000. Soundwatch Capital LLC owned approximately 0.17% of Carrier Global at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. AdvisorShares Investments LLC bought a new stake in shares of Carrier Global in the 2nd quarter worth approximately $25,000. Winnow Wealth LLC bought a new stake in Carrier Global in the second quarter worth $26,000. Traub Capital Management LLC bought a new stake in Carrier Global in the second quarter worth $27,000. Accredited Wealth Management LLC purchased a new stake in shares of Carrier Global in the first quarter worth $28,000. Finally, REAP Financial Group LLC bought a new position in shares of Carrier Global during the second quarter valued at $29,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on CARR shares. Weiss Ratings cut shares of Carrier Global from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, November 17th. Robert W. Baird set a $72.00 target price on shares of Carrier Global in a report on Wednesday, October 29th. JPMorgan Chase & Co. dropped their target price on shares of Carrier Global from $61.00 to $60.00 and set a “neutral” rating on the stock in a research note on Friday, October 31st. Royal Bank Of Canada cut their price target on shares of Carrier Global from $87.00 to $75.00 and set an “outperform” rating on the stock in a report on Friday, September 12th. Finally, Mizuho decreased their price objective on shares of Carrier Global from $80.00 to $75.00 and set an “outperform” rating for the company in a report on Friday, October 17th. Nine research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Carrier Global has a consensus rating of “Hold” and an average target price of $72.94.

Carrier Global Stock Performance

Shares of NYSE CARR opened at $52.36 on Friday. The firm’s 50-day moving average price is $57.71 and its 200-day moving average price is $66.16. Carrier Global Corporation has a 52-week low of $50.30 and a 52-week high of $81.09. The company has a market cap of $44.10 billion, a PE ratio of 11.71, a PEG ratio of 2.27 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 (NYSE:CARR) last released its quarterly earnings data on Tuesday, October 28th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $5.65 billion. During the same period in the previous year, the company earned $0.83 earnings per share. The firm’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, analysts anticipate that Carrier Global Corporation will post 2.99 EPS for the current year.

Carrier Global Announces Dividend

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

Carrier Global announced that its board has approved a share repurchase plan on Tuesday, October 28th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the company to reacquire up to 10.1% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board believes its shares are undervalued.

Carrier Global 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.