Rathbones Group PLC Lowers Holdings in Carrier Global Corporation $CARR

Rathbones Group PLC cut its stake in shares of Carrier Global Corporation (NYSE:CARR) by 24.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,257 shares of the company’s stock after selling 1,664 shares during the quarter. Rathbones Group PLC’s holdings in Carrier Global were worth $385,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of CARR. Nuveen LLC bought a new stake in Carrier Global during the 1st quarter valued at about $649,512,000. JPMorgan Chase & Co. grew its holdings in shares of Carrier Global by 17.6% during the first quarter. JPMorgan Chase & Co. now owns 31,126,869 shares of the company’s stock valued at $1,973,444,000 after buying an additional 4,668,929 shares during the last quarter. Alliancebernstein L.P. increased its position in shares of Carrier Global by 61.9% during the first quarter. Alliancebernstein L.P. now owns 4,318,806 shares of the company’s stock valued at $273,812,000 after acquiring an additional 1,651,873 shares in the last quarter. Nicholas Company Inc. purchased a new position in Carrier Global in the 2nd quarter worth approximately $67,497,000. Finally, Victory Capital Management Inc. lifted its position in Carrier Global by 23.5% in the 1st quarter. Victory Capital Management Inc. now owns 4,512,774 shares of the company’s stock valued at $286,110,000 after acquiring an additional 857,694 shares in the last quarter. Institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Performance

Shares of NYSE CARR opened at $56.92 on Wednesday. Carrier Global Corporation has a 12-month low of $54.22 and a 12-month high of $81.09. The firm has a market capitalization of $47.94 billion, a price-to-earnings ratio of 12.73, a price-to-earnings-growth ratio of 2.40 and a beta of 1.30. The company has a current ratio of 1.14, a quick ratio of 0.75 and a debt-to-equity ratio of 0.76. The firm has a 50 day moving average of $59.37 and a 200 day moving average of $66.93.

Carrier Global (NYSE:CARR) last issued its quarterly earnings results on Tuesday, October 28th. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.10. The business had revenue of $5.58 billion for the quarter, compared to analysts’ expectations of $5.65 billion. Carrier Global had a net margin of 18.05% and a return on equity of 16.65%. The company’s revenue was down 6.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.83 EPS. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. On average, research analysts anticipate that Carrier Global Corporation will post 2.99 earnings per share for the current year.

Carrier Global declared that its board has authorized a share buyback plan on Tuesday, October 28th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 10.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Carrier Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 18th. Shareholders of record on Wednesday, October 29th will be given a $0.225 dividend. The ex-dividend date is Wednesday, October 29th. This represents a $0.90 dividend on an annualized basis and a yield of 1.6%. Carrier Global’s dividend payout ratio is presently 20.13%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CARR shares. The Goldman Sachs Group decreased their price target on Carrier Global from $76.00 to $72.00 and set a “buy” rating for the company in a research note on Wednesday, October 29th. Mizuho lowered their target price on shares of Carrier Global from $80.00 to $75.00 and set an “outperform” rating on the stock in a research note on Friday, October 17th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Carrier Global in a report on Thursday, September 11th. Weiss Ratings reissued a “buy (b-)” rating on shares of Carrier Global in a report on Wednesday, October 8th. Finally, Wolfe Research lowered their price objective on shares of Carrier Global from $76.00 to $75.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 29th. Eleven analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $74.18.

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.