Carrier Global Corporation $CARR Shares Sold by Alpine Woods Capital Investors LLC

Alpine Woods Capital Investors LLC lessened its position in shares of Carrier Global Corporation (NYSE:CARR) by 65.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 35,661 shares of the company’s stock after selling 66,993 shares during the quarter. Alpine Woods Capital Investors LLC’s holdings in Carrier Global were worth $2,129,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Carrier Global by 0.5% during the second quarter. Vanguard Group Inc. now owns 93,373,143 shares of the company’s stock worth $6,833,980,000 after acquiring an additional 450,594 shares during the period. JPMorgan Chase & Co. boosted its holdings in Carrier Global by 23.8% during the second quarter. JPMorgan Chase & Co. now owns 38,536,301 shares of the company’s stock worth $2,820,485,000 after buying an additional 7,409,432 shares in the last quarter. Fisher Asset Management LLC increased its holdings in Carrier Global by 3.1% in the second quarter. Fisher Asset Management LLC now owns 15,048,555 shares of the company’s stock valued at $1,101,404,000 after buying an additional 448,055 shares in the last quarter. Brown Advisory Inc. raised its position in shares of Carrier Global by 6.3% in the second quarter. Brown Advisory Inc. now owns 10,281,880 shares of the company’s stock worth $752,533,000 after acquiring an additional 607,901 shares during the period. Finally, Norges Bank acquired a new position in shares of Carrier Global in the second quarter worth about $524,939,000. 91.00% of the stock is owned by hedge funds and other institutional investors.

Carrier Global Trading Down 0.1%

Shares of CARR opened at $53.27 on Thursday. Carrier Global Corporation has a 52-week low of $50.30 and a 52-week high of $81.09. The stock has a market cap of $44.86 billion, a PE ratio of 11.92, a price-to-earnings-growth ratio of 2.31 and a beta of 1.30. The firm’s fifty day moving average is $55.10 and its two-hundred day moving average is $63.17. 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 (NYSE:CARR) last posted 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. 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 for the quarter, compared to the consensus estimate of $5.65 billion. During the same period last year, the firm posted $0.83 earnings per share. The company’s revenue for the quarter was down 6.8% on a year-over-year basis. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. Research analysts forecast that Carrier Global Corporation will post 2.99 earnings per share for the current fiscal year.

Carrier Global declared that its board has authorized a stock repurchase plan on Tuesday, October 28th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 10.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Carrier Global Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 9th. Shareholders of record on Tuesday, January 20th will be paid a $0.24 dividend. This is a boost from Carrier Global’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Tuesday, January 20th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.8%. Carrier Global’s dividend payout ratio is 21.48%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on CARR shares. Deutsche Bank Aktiengesellschaft dropped their target price on Carrier Global from $70.00 to $64.00 and set a “hold” rating on the stock in a research report on Wednesday, October 29th. JPMorgan Chase & Co. dropped their price objective on Carrier Global from $61.00 to $60.00 and set a “neutral” rating on the stock in a report on Friday, October 31st. Mizuho cut their price objective on Carrier Global from $80.00 to $75.00 and set an “outperform” rating for the company in a research report on Friday, October 17th. Wells Fargo & Company reduced their target price on Carrier Global from $62.00 to $59.00 and set an “equal weight” rating for the company in a research note on Thursday, December 4th. Finally, Oppenheimer reissued a “market perform” rating on shares of Carrier Global in a research note on Wednesday, October 29th. Nine equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $72.00.

Carrier Global Profile

Carrier Global Corporation is a leading global provider of heating, ventilation and air conditioning (HVAC), refrigeration, fire and security, and building automation solutions. The company designs, manufactures and sells a broad portfolio of products that includes air conditioners, furnaces, heat pumps, chillers, rooftop units, commercial refrigeration systems, fire and smoke detection and suppression systems, security sensors and access controls, and a range of building controls and analytics software.