Carrier Global Corporation $CARR Shares Sold by OFI Invest Asset Management

OFI Invest Asset Management cut its position in Carrier Global Corporation (NYSE:CARR) by 72.1% in the second quarter, HoldingsChannel reports. The institutional investor owned 125,702 shares of the company’s stock after selling 325,435 shares during the period. OFI Invest Asset Management’s holdings in Carrier Global were worth $9,200,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Vanguard Personalized Indexing Management LLC grew its stake in shares of Carrier Global by 8.7% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 107,468 shares of the company’s stock valued at $7,870,000 after buying an additional 8,595 shares in the last quarter. Concurrent Investment Advisors LLC grew its stake in shares of Carrier Global by 4.4% in the second quarter. Concurrent Investment Advisors LLC now owns 35,524 shares of the company’s stock valued at $2,600,000 after buying an additional 1,503 shares in the last quarter. Stonehage Fleming Financial Services Holdings Ltd boosted its holdings in Carrier Global by 61.0% in the second quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 17,893 shares of the company’s stock valued at $1,310,000 after purchasing an additional 6,779 shares during the period. Richardson Financial Services Inc. boosted its holdings in Carrier Global by 1,536.6% in the second quarter. Richardson Financial Services Inc. now owns 671 shares of the company’s stock valued at $50,000 after purchasing an additional 630 shares during the period. Finally, Trust Co. of Toledo NA OH boosted its holdings in Carrier Global by 18.4% in the second quarter. Trust Co. of Toledo NA OH now owns 23,307 shares of the company’s stock valued at $1,706,000 after purchasing an additional 3,620 shares during the period. 91.00% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Melius assumed coverage on Carrier Global in a report on Tuesday, July 1st. They issued a “hold” rating and a $90.00 target price for the company. Mizuho decreased their target price on Carrier Global from $88.00 to $80.00 and set an “outperform” rating for the company in a report on Monday, September 15th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $79.00 target price on shares of Carrier Global in a report on Tuesday, July 15th. Morgan Stanley decreased their target price on Carrier Global from $78.00 to $75.00 and set an “equal weight” rating for the company in a report on Friday, August 8th. Finally, Barclays decreased their price target on Carrier Global from $82.00 to $74.00 and set an “overweight” rating for the company in a report on Thursday, September 11th. Twelve research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, Carrier Global presently has a consensus rating of “Moderate Buy” and an average target price of $78.42.

Carrier Global Stock Down 2.5%

CARR opened at $56.63 on Friday. The business’s 50-day simple moving average is $63.02 and its 200-day simple moving average is $67.19. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.80 and a current ratio of 1.17. Carrier Global Corporation has a one year low of $54.22 and a one year high of $83.32. The stock has a market capitalization of $48.19 billion, a P/E ratio of 12.34, a price-to-earnings-growth ratio of 1.76 and a beta of 1.25.

Carrier Global (NYSE:CARR) last posted its earnings results on Tuesday, July 29th. The company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. Carrier Global had a return on equity of 17.83% and a net margin of 18.33%.The business had revenue of $6.11 billion for the quarter, compared to analysts’ expectations of $6.08 billion. Carrier Global has set its FY 2025 guidance at 3.000-3.100 EPS. Analysts anticipate that Carrier Global Corporation will post 2.99 EPS for the current year.

Carrier Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 18th. Stockholders of record on Wednesday, October 29th will be given a dividend of $0.225 per share. The ex-dividend date is Wednesday, October 29th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.6%. Carrier Global’s payout ratio is 19.61%.

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.