Mackenzie Financial Corp Sells 60,005 Shares of Carrier Global Corporation $CARR

Mackenzie Financial Corp reduced its stake in shares of Carrier Global Corporation (NYSE:CARR) by 11.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 479,206 shares of the company’s stock after selling 60,005 shares during the period. Mackenzie Financial Corp owned 0.06% of Carrier Global worth $35,073,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in CARR. Triasima Portfolio Management inc. bought a new stake in Carrier Global during the second quarter valued at about $1,421,000. Atlantic Union Bankshares Corp lifted its position in shares of Carrier Global by 73.2% during the 2nd quarter. Atlantic Union Bankshares Corp now owns 6,240 shares of the company’s stock worth $457,000 after purchasing an additional 2,638 shares during the last quarter. Shell Asset Management Co. lifted its position in shares of Carrier Global by 98.4% during the 2nd quarter. Shell Asset Management Co. now owns 24,160 shares of the company’s stock worth $1,768,000 after purchasing an additional 11,980 shares during the last quarter. Ransom Advisory Ltd bought a new stake in Carrier Global during the 1st quarter valued at approximately $400,000. Finally, Nordea Investment Management AB grew its holdings in Carrier Global by 1.5% in the 2nd quarter. Nordea Investment Management AB now owns 73,150 shares of the company’s stock valued at $5,369,000 after buying an additional 1,074 shares during the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on CARR shares. Zacks Research upgraded Carrier Global from a “strong sell” rating to a “hold” rating in a report on Friday, November 21st. Jefferies Financial Group reiterated a “buy” rating on shares of Carrier Global in a research note on Thursday, September 11th. 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 report on Friday, September 12th. Robert W. Baird set a $72.00 price objective on shares of Carrier Global in a report on Wednesday, October 29th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Carrier Global in a research report on Monday, November 24th. Nine investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, Carrier Global currently has an average rating of “Hold” and an average target price of $72.94.

Carrier Global Stock Performance

Shares of NYSE:CARR opened at $54.90 on Monday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.14 and a quick ratio of 0.75. The business’s fifty day moving average price is $57.02 and its two-hundred day moving average price is $65.48. Carrier Global Corporation has a fifty-two week low of $50.30 and a fifty-two week high of $81.09. The stock has a market capitalization of $46.24 billion, a price-to-earnings ratio of 12.28, a price-to-earnings-growth ratio of 2.38 and a beta of 1.30.

Carrier Global (NYSE:CARR) last issued its earnings results on Tuesday, October 28th. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.57 by $0.10. The company had revenue of $5.58 billion for the quarter, compared to the consensus estimate of $5.65 billion. Carrier Global had a net margin of 18.05% and a return on equity of 16.65%. The firm’s revenue for the quarter was down 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.83 EPS. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. As a group, analysts predict that Carrier Global Corporation will post 2.99 EPS for the current fiscal year.

Carrier Global Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 18th. Stockholders of record on Wednesday, October 29th were issued a dividend of $0.225 per share. The ex-dividend date of this dividend was Wednesday, October 29th. This represents a $0.90 annualized dividend and a dividend yield of 1.6%. Carrier Global’s dividend payout ratio (DPR) is presently 20.13%.

Carrier Global declared that its Board of Directors has approved a stock repurchase program on Tuesday, October 28th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 10.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Carrier Global Company 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.