Carrier Global Corporation $CARR Shares Bought by AE Wealth Management LLC

AE Wealth Management LLC increased its position in Carrier Global Corporation (NYSE:CARR) by 25.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,023 shares of the company’s stock after acquiring an additional 2,264 shares during the period. AE Wealth Management LLC’s holdings in Carrier Global were worth $807,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Nuveen LLC acquired a new position in Carrier Global in the 1st quarter valued at $649,512,000. JPMorgan Chase & Co. boosted its position in shares of Carrier Global by 17.6% in the first quarter. JPMorgan Chase & Co. now owns 31,126,869 shares of the company’s stock worth $1,973,444,000 after buying an additional 4,668,929 shares during the period. Alliancebernstein L.P. grew its stake in shares of Carrier Global by 61.9% in the first quarter. Alliancebernstein L.P. now owns 4,318,806 shares of the company’s stock valued at $273,812,000 after buying an additional 1,651,873 shares in the last quarter. Nicholas Company Inc. purchased a new stake in shares of Carrier Global during the 2nd quarter valued at about $67,497,000. Finally, Gates Capital Management Inc. raised its holdings in shares of Carrier Global by 37.3% during the 1st quarter. Gates Capital Management Inc. now owns 2,937,756 shares of the company’s stock valued at $186,254,000 after buying an additional 797,693 shares during the period. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CARR has been the subject of several analyst reports. Jefferies Financial Group restated a “buy” rating on shares of Carrier Global in a research note on Thursday, September 11th. Zacks Research downgraded Carrier Global from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 14th. Wolfe Research cut their price target on Carrier Global from $76.00 to $75.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 29th. JPMorgan Chase & Co. lowered their price objective on Carrier Global from $61.00 to $60.00 and set a “neutral” rating for the company in a research note on Friday, October 31st. Finally, Robert W. Baird set a $72.00 price target on shares of Carrier Global in a research report on Wednesday, October 29th. Ten equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $72.94.

Carrier Global Price Performance

Shares of NYSE CARR opened at $55.14 on Friday. 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 company has a market capitalization of $46.44 billion, a price-to-earnings ratio of 12.34, a price-to-earnings-growth ratio of 2.34 and a beta of 1.30. Carrier Global Corporation has a twelve month low of $54.22 and a twelve month high of $81.09. The business has a 50 day simple moving average of $59.07 and a 200-day simple moving average of $66.77.

Carrier Global (NYSE:CARR) last released its quarterly earnings data 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 net margin of 18.05% and a return on equity of 16.65%. The firm had revenue of $5.58 billion during the quarter, compared to the consensus estimate of $5.65 billion. During the same quarter in the previous year, the company posted $0.83 earnings per share. The firm’s 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. As a group, equities research 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 initiated a stock repurchase program 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 programs are generally an indication that the company’s management believes its stock is undervalued.

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 paid a dividend of $0.225 per share. The ex-dividend date is Wednesday, October 29th. This represents a $0.90 annualized dividend and a yield of 1.6%. Carrier Global’s dividend payout ratio is 20.13%.

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.