Carrier Global Corporation $CARR Shares Acquired by Riverview Capital Advisers LLC

Riverview Capital Advisers LLC raised its stake in shares of Carrier Global Corporation (NYSE:CARR) by 34.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 139,977 shares of the company’s stock after purchasing an additional 36,195 shares during the period. Carrier Global accounts for 2.9% of Riverview Capital Advisers LLC’s holdings, making the stock its 8th biggest position. Riverview Capital Advisers LLC’s holdings in Carrier Global were worth $10,245,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Fisher Asset Management LLC boosted its holdings in shares of Carrier Global by 3.1% during the 2nd quarter. Fisher Asset Management LLC now owns 15,048,555 shares of the company’s stock worth $1,101,404,000 after purchasing an additional 448,055 shares during the last quarter. Edgestream Partners L.P. increased its holdings in shares of Carrier Global by 344.2% in the second quarter. Edgestream Partners L.P. now owns 30,131 shares of the company’s stock valued at $2,205,000 after purchasing an additional 23,348 shares during the last quarter. Panagora Asset Management Inc. lifted its position in Carrier Global by 111.0% during the second quarter. Panagora Asset Management Inc. now owns 25,319 shares of the company’s stock worth $1,853,000 after buying an additional 13,318 shares in the last quarter. VestGen Advisors LLC boosted its stake in Carrier Global by 5.2% during the second quarter. VestGen Advisors LLC now owns 5,041 shares of the company’s stock worth $369,000 after buying an additional 248 shares during the last quarter. Finally, Greenwich Wealth Management LLC acquired a new position in Carrier Global during the second quarter worth $229,000. 91.00% of the stock is owned by hedge funds and other institutional investors.

Carrier Global Trading Down 1.2%

CARR opened at $54.23 on Tuesday. The firm has a market cap of $45.67 billion, a P/E ratio of 12.13, a P/E/G ratio of 2.38 and a beta of 1.30. Carrier Global Corporation has a 52 week low of $50.30 and a 52 week high of $81.09. The company has a quick ratio of 0.75, a current ratio of 1.14 and a debt-to-equity ratio of 0.76. The business has a fifty day simple moving average of $56.90 and a 200-day simple moving average of $65.34.

Carrier Global (NYSE:CARR) last released its earnings results on Tuesday, October 28th. The company reported $0.67 earnings per share (EPS) for the quarter, topping 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 company had revenue of $5.58 billion for the quarter, compared to analyst estimates of $5.65 billion. During the same period in the prior year, the business earned $0.83 EPS. 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. On average, equities analysts expect that Carrier Global Corporation will post 2.99 earnings per share for the current year.

Carrier Global announced that its Board of Directors has authorized a stock buyback program on Tuesday, October 28th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 10.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Carrier Global Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages have issued reports on CARR. Oppenheimer reaffirmed a “market perform” rating on shares of Carrier Global in a research note on Wednesday, October 29th. Citigroup cut their price objective on shares of Carrier Global from $75.00 to $71.00 and set a “buy” rating for the company in a research report on Wednesday, October 29th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Carrier Global in a research note on Monday, November 24th. Royal Bank Of Canada dropped 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 note on Friday, September 12th. Finally, Wells Fargo & Company reduced their price target on shares of Carrier Global from $65.00 to $62.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 29th. Nine research analysts have rated the stock with a Buy rating and ten have given 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 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.