State of Alaska Department of Revenue Sells 29,084 Shares of Carrier Global Corporation $CARR

State of Alaska Department of Revenue trimmed its position in shares of Carrier Global Corporation (NYSE:CARR) by 25.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 86,216 shares of the company’s stock after selling 29,084 shares during the period. State of Alaska Department of Revenue’s holdings in Carrier Global were worth $5,147,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. AdvisorShares Investments LLC acquired a new stake in shares of Carrier Global during the 2nd quarter worth approximately $25,000. Winnow Wealth LLC bought a new position in Carrier Global in the second quarter worth $26,000. Twin Peaks Wealth Advisors LLC acquired a new stake in Carrier Global during the second quarter worth $26,000. Clayton Financial Group LLC bought a new stake in Carrier Global in the 3rd quarter valued at $26,000. Finally, Traub Capital Management LLC acquired a new position in shares of Carrier Global in the 2nd quarter valued at $27,000. Institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Performance

NYSE:CARR opened at $56.27 on Friday. The stock has a market capitalization of $47.39 billion, a P/E ratio of 12.59, a price-to-earnings-growth ratio of 2.23 and a beta of 1.31. 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 Corporation has a 1 year low of $50.24 and a 1 year high of $81.09. The firm has a 50 day moving average of $53.99 and a 200-day moving average of $61.69.

Carrier Global (NYSE:CARR) last released its quarterly earnings results on Tuesday, October 28th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $5.65 billion. During the same period in the prior year, the company earned $0.83 EPS. Carrier Global’s revenue for the quarter 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, sell-side analysts anticipate that Carrier Global Corporation will post 2.99 EPS for the current fiscal year.

Carrier Global Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 9th. Stockholders of record on Tuesday, January 20th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.7%. This is a boost from Carrier Global’s previous quarterly dividend of $0.23. The ex-dividend date is Tuesday, January 20th. Carrier Global’s dividend payout ratio is 20.13%.

Carrier Global announced that its Board of Directors has approved a share repurchase program on Tuesday, October 28th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 10.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Royal Bank Of Canada decreased their target price on shares of Carrier Global from $75.00 to $70.00 and set an “outperform” rating on the stock in a research report on Friday, December 5th. Wells Fargo & Company decreased their price objective on Carrier Global from $62.00 to $59.00 and set an “equal weight” rating on the stock in a report on Thursday, December 4th. The Goldman Sachs Group lowered their price objective on Carrier Global from $72.00 to $68.00 and set a “buy” rating on the stock in a research note on Tuesday, December 16th. Robert W. Baird set a $72.00 target price on Carrier Global in a research report on Wednesday, October 29th. Finally, Wolfe Research set a $74.00 price target on Carrier Global in a research note on Tuesday, December 9th. Ten investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $71.12.

Carrier Global Profile

Carrier Global Corporation is a leading global provider of heating, ventilation and air conditioning (HVAC), refrigeration, fire and security, and building automation solutions. The company designs, manufactures and sells a broad portfolio of products that includes air conditioners, furnaces, heat pumps, chillers, rooftop units, commercial refrigeration systems, fire and smoke detection and suppression systems, security sensors and access controls, and a range of building controls and analytics software.