Bank Julius Baer & Co. Ltd Zurich Lowers Stock Position in Carrier Global Corporation $CARR

Bank Julius Baer & Co. Ltd Zurich lowered its holdings in Carrier Global Corporation (NYSE:CARR) by 53.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,298 shares of the company’s stock after selling 8,490 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in Carrier Global were worth $534,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. AdvisorShares Investments LLC purchased a new position in Carrier Global in the second quarter valued at about $25,000. Winnow Wealth LLC purchased a new stake in shares of Carrier Global during the 2nd quarter worth approximately $26,000. Traub Capital Management LLC acquired a new stake in shares of Carrier Global in the 2nd quarter worth approximately $27,000. REAP Financial Group LLC purchased a new position in Carrier Global in the 2nd quarter valued at approximately $29,000. Finally, Accredited Wealth Management LLC acquired a new position in Carrier Global during the first quarter worth $28,000. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on CARR shares. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Carrier Global from $70.00 to $64.00 and set a “hold” rating on the stock in a research note on Wednesday, October 29th. Morgan Stanley lowered their price target on shares of Carrier Global from $75.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 14th. Weiss Ratings downgraded Carrier Global from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, November 17th. Mizuho lowered their target price on Carrier Global from $80.00 to $75.00 and set an “outperform” rating on the stock in a report on Friday, October 17th. Finally, Robert W. Baird set a $72.00 price target on Carrier Global in a research report on Wednesday, October 29th. Nine research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $72.94.

Carrier Global Price Performance

Shares of CARR stock opened at $52.36 on Friday. The firm has a fifty day simple moving average of $57.71 and a 200-day simple moving average of $66.16. The company has a market capitalization of $44.10 billion, a PE ratio of 11.71, a price-to-earnings-growth ratio of 2.27 and a beta of 1.30. Carrier Global Corporation has a twelve month low of $50.30 and a twelve month high of $81.09. 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 (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. Carrier Global had a return on equity of 16.65% and a net margin of 18.05%.The company had revenue of $5.58 billion for the quarter, compared to the consensus estimate of $5.65 billion. During the same period in the previous year, the business earned $0.83 EPS. Carrier Global’s revenue for the quarter was down 6.8% compared to the same quarter last year. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. Equities research analysts anticipate that Carrier Global Corporation will post 2.99 earnings per share for the current fiscal year.

Carrier Global Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 18th. Investors of record on Wednesday, October 29th were paid a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Wednesday, October 29th. Carrier Global’s dividend payout ratio is presently 20.13%.

Carrier Global declared that its Board of Directors has initiated a stock buyback program on Tuesday, October 28th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the company to repurchase up to 10.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Carrier Global Company 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.