Oppenheimer Asset Management Inc. Purchases Shares of 2,900 Carrier Global Corporation $CARR

Oppenheimer Asset Management Inc. purchased a new position in Carrier Global Corporation (NYSE:CARR) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,900 shares of the company’s stock, valued at approximately $212,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Costello Asset Management INC increased its holdings in shares of Carrier Global by 4.2% in the 2nd quarter. Costello Asset Management INC now owns 3,153 shares of the company’s stock worth $231,000 after purchasing an additional 127 shares in the last quarter. Rehmann Capital Advisory Group boosted its position in shares of Carrier Global by 1.3% during the second quarter. Rehmann Capital Advisory Group now owns 12,083 shares of the company’s stock worth $884,000 after acquiring an additional 150 shares during the last quarter. Penobscot Investment Management Company Inc. boosted its stake in Carrier Global by 0.7% during the second quarter. Penobscot Investment Management Company Inc. now owns 20,833 shares of the company’s stock valued at $1,525,000 after buying an additional 155 shares during the last quarter. Lindbrook Capital LLC lifted its holdings in shares of Carrier Global by 1.3% in the 1st quarter. Lindbrook Capital LLC now owns 12,294 shares of the company’s stock valued at $779,000 after acquiring an additional 156 shares during the last quarter. Finally, Code Waechter LLC lifted its position in Carrier Global by 5.1% in the first quarter. Code Waechter LLC now owns 3,383 shares of the company’s stock worth $214,000 after buying an additional 164 shares during the last quarter. Institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Down 2.8%

Shares of CARR opened at $57.84 on Tuesday. 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 12 month low of $54.22 and a 12 month high of $81.09. The firm has a market cap of $48.72 billion, a P/E ratio of 12.94, a PEG ratio of 2.36 and a beta of 1.30. The stock’s 50 day moving average is $60.39 and its two-hundred day moving average is $67.02.

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

Carrier Global declared that its board has approved a share buyback plan on Tuesday, October 28th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 10.1% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Carrier Global Dividend Announcement

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

Wall Street Analysts Forecast Growth

CARR has been the subject of a number of research analyst reports. JPMorgan Chase & Co. decreased their price target on Carrier Global from $61.00 to $60.00 and set a “neutral” rating for the company in a research note on Friday. Barclays decreased their price objective on Carrier Global from $82.00 to $74.00 and set an “overweight” rating for the company in a report on Thursday, September 11th. The Goldman Sachs Group reduced their price target on Carrier Global from $76.00 to $72.00 and set a “buy” rating for the company in a research report on Wednesday, October 29th. Jefferies Financial Group reiterated a “buy” rating on shares of Carrier Global in a research note on Thursday, September 11th. Finally, Robert W. Baird set a $72.00 price target on shares of Carrier Global in a research note on Wednesday, October 29th. Eleven research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Carrier Global presently 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.