Hartline Investment Corp Decreases Position in Carrier Global Corporation $CARR

Hartline Investment Corp reduced its position in shares of Carrier Global Corporation (NYSE:CARR) by 67.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,058 shares of the company’s stock after selling 56,924 shares during the period. Hartline Investment Corp’s holdings in Carrier Global were worth $1,615,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in CARR. AdvisorShares Investments LLC purchased a new stake in shares of Carrier Global during the second quarter worth approximately $25,000. Winnow Wealth LLC acquired a new stake in Carrier Global during the 2nd quarter worth $26,000. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Carrier Global in the second quarter valued at about $26,000. Clayton Financial Group LLC purchased a new position in shares of Carrier Global in the third quarter worth about $26,000. Finally, Traub Capital Management LLC acquired a new position in Carrier Global during the second quarter worth about $27,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Stock Performance

Shares of Carrier Global stock opened at $56.20 on Friday. The firm has a market cap of $47.33 billion, a PE ratio of 12.57, a price-to-earnings-growth ratio of 2.17 and a beta of 1.31. 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 $50.24 and a 52 week high of $81.09. The business’s fifty day simple moving average is $53.82 and its 200-day simple moving average is $61.07.

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

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

Carrier Global Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 9th. Investors of record on Tuesday, January 20th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Tuesday, January 20th. This is an increase from Carrier Global’s previous quarterly dividend of $0.23. Carrier Global’s dividend payout ratio is 20.13%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CARR. Royal Bank Of Canada decreased their target price on shares of Carrier Global from $75.00 to $70.00 and set an “outperform” rating on the stock in a research note on Friday, December 5th. Mizuho reduced their price objective on Carrier Global from $75.00 to $67.00 and set an “outperform” rating on the stock in a research report on Monday, January 5th. The Goldman Sachs Group lowered their price objective on Carrier Global from $72.00 to $68.00 and set a “buy” rating on the stock in a research note on Tuesday, December 16th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Carrier Global in a research note on Monday, December 29th. Finally, Wolfe Research lowered their price target on shares of Carrier Global from $74.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday. Ten investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $71.00.

About Carrier Global

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.