Global Retirement Partners LLC Makes New $418,000 Investment in Carrier Global Corporation $CARR

Global Retirement Partners LLC acquired a new position in Carrier Global Corporation (NYSE:CARR) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 5,707 shares of the company’s stock, valued at approximately $418,000.

Other hedge funds have also recently modified their holdings of the company. Nuveen LLC purchased a new stake in shares of Carrier Global in the first quarter worth $649,512,000. JPMorgan Chase & Co. grew its position in Carrier Global by 23.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 38,536,301 shares of the company’s stock valued at $2,820,485,000 after purchasing an additional 7,409,432 shares during the last quarter. Artisan Partners Limited Partnership increased its stake in Carrier Global by 63.6% during the 2nd quarter. Artisan Partners Limited Partnership now owns 4,952,738 shares of the company’s stock valued at $362,491,000 after purchasing an additional 1,924,804 shares in the last quarter. Alliancebernstein L.P. raised its holdings in Carrier Global by 61.9% in the first quarter. Alliancebernstein L.P. now owns 4,318,806 shares of the company’s stock worth $273,812,000 after buying an additional 1,651,873 shares during the last quarter. Finally, Soundwatch Capital LLC bought a new position in shares of Carrier Global in the second quarter worth approximately $1,074,000. Institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Up 1.0%

NYSE CARR opened at $54.90 on Friday. The stock’s 50-day moving average price is $57.02 and its 200-day moving average price is $65.53. The company has a quick ratio of 0.75, a current ratio of 1.14 and a debt-to-equity ratio of 0.76. Carrier Global Corporation has a 52 week low of $50.30 and a 52 week high of $81.09. The company has a market capitalization of $46.24 billion, a P/E ratio of 12.28, a price-to-earnings-growth ratio of 2.38 and a beta of 1.30.

Carrier Global (NYSE:CARR) last announced its quarterly earnings data 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. The company had revenue of $5.58 billion during the quarter, compared to the consensus estimate of $5.65 billion. Carrier Global had a return on equity of 16.65% and a net margin of 18.05%.The firm’s revenue was down 6.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.83 EPS. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. On average, equities research analysts predict that Carrier Global Corporation will post 2.99 earnings per share for the current year.

Carrier Global Announces Dividend

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

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Barclays decreased their price objective on shares of Carrier Global from $82.00 to $74.00 and set an “overweight” rating for the company in a report on Thursday, September 11th. Royal Bank Of Canada lowered their price target on Carrier Global from $87.00 to $75.00 and set an “outperform” rating on the stock in a report on Friday, September 12th. Rothschild & Co Redburn increased their price objective on Carrier Global from $66.00 to $67.00 in a research report on Thursday, October 30th. JPMorgan Chase & Co. decreased their target price on Carrier Global from $61.00 to $60.00 and set a “neutral” rating for the company in a research report on Friday, October 31st. Finally, Wells Fargo & Company dropped their target price on 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. Nine research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Carrier Global currently has an average rating of “Hold” and an average price target of $72.94.

About Carrier Global

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.