Cascade Financial Partners LLC Takes Position in Carrier Global Corporation $CARR

Cascade Financial Partners LLC acquired a new position in Carrier Global Corporation (NYSE:CARR) during the second quarter, Holdings Channel reports. The firm acquired 2,947 shares of the company’s stock, valued at approximately $216,000.

Several other institutional investors have also modified their holdings of CARR. AdvisorShares Investments LLC bought a new stake in Carrier Global in the second quarter worth about $25,000. Accredited Wealth Management LLC acquired a new position in shares of Carrier Global in the 1st quarter worth approximately $28,000. REAP Financial Group LLC acquired a new position in shares of Carrier Global in the 2nd quarter worth approximately $29,000. Westside Investment Management Inc. raised its holdings in shares of Carrier Global by 387.0% in the 2nd quarter. Westside Investment Management Inc. now owns 487 shares of the company’s stock worth $36,000 after purchasing an additional 387 shares in the last quarter. Finally, Cheviot Value Management LLC acquired a new stake in Carrier Global during the first quarter valued at approximately $38,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on CARR. Wells Fargo & Company decreased 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. Deutsche Bank Aktiengesellschaft reduced their price objective on Carrier Global from $70.00 to $64.00 and set a “hold” rating for the company in a research note on Wednesday, October 29th. Mizuho cut their target price on Carrier Global from $80.00 to $75.00 and set an “outperform” rating on the stock in a research report on Friday, October 17th. Zacks Research lowered Carrier Global from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 14th. Finally, Robert W. Baird set a $72.00 price target on Carrier Global in a research note on Wednesday, October 29th. Eleven investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $74.18.

Carrier Global Price Performance

Shares of CARR opened at $56.92 on Wednesday. The company has a market capitalization of $47.94 billion, a price-to-earnings ratio of 12.73, a P/E/G ratio of 2.40 and a beta of 1.30. 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 50-day moving average is $59.37 and its 200-day moving average is $66.93. Carrier Global Corporation has a fifty-two week low of $54.22 and a fifty-two week high of $81.09.

Carrier Global (NYSE:CARR) last issued its earnings results on Tuesday, October 28th. The company reported $0.67 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $5.65 billion. During the same quarter last year, the business posted $0.83 EPS. The company’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. Equities research analysts expect that Carrier Global Corporation will post 2.99 EPS for the current fiscal year.

Carrier Global Announces Dividend

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

Carrier Global announced that its board has initiated a stock repurchase plan on Tuesday, October 28th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the company to reacquire up to 10.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management 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.