Carrier Global Corporation $CARR Stock Holdings Decreased by ELCO Management Co. LLC

ELCO Management Co. LLC reduced its position in Carrier Global Corporation (NYSE:CARR) by 2.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,464 shares of the company’s stock after selling 300 shares during the period. ELCO Management Co. LLC’s holdings in Carrier Global were worth $985,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in CARR. Nuveen LLC purchased a new position in shares of Carrier Global in the first quarter worth approximately $649,512,000. JPMorgan Chase & Co. grew its position in Carrier Global by 17.6% during the first quarter. JPMorgan Chase & Co. now owns 31,126,869 shares of the company’s stock valued at $1,973,444,000 after purchasing an additional 4,668,929 shares in the last quarter. Brown Advisory Inc. grew its position in Carrier Global by 82.6% during the first quarter. Brown Advisory Inc. now owns 9,673,979 shares of the company’s stock valued at $613,330,000 after purchasing an additional 4,377,402 shares in the last quarter. Alliancebernstein L.P. grew its position in Carrier Global by 61.9% during the first quarter. Alliancebernstein L.P. now owns 4,318,806 shares of the company’s stock valued at $273,812,000 after purchasing an additional 1,651,873 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in Carrier Global by 23.5% during the first quarter. Victory Capital Management Inc. now owns 4,512,774 shares of the company’s stock valued at $286,110,000 after purchasing an additional 857,694 shares in the last quarter. 91.00% of the stock is owned by hedge funds and other institutional investors.

Carrier Global Stock Performance

CARR stock opened at $58.82 on Wednesday. The company has a quick ratio of 0.80, a current ratio of 1.17 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $50.06 billion, a price-to-earnings ratio of 12.82, a P/E/G ratio of 1.91 and a beta of 1.25. Carrier Global Corporation has a 12 month low of $54.22 and a 12 month high of $81.09. The firm has a 50 day moving average of $60.96 and a two-hundred day moving average of $66.99.

Carrier Global (NYSE:CARR) last posted its earnings results on Tuesday, October 28th. The company reported $0.67 EPS for the quarter, hitting the consensus estimate of $0.67. The company had revenue of $5.58 billion during the quarter, compared to the consensus estimate of $5.65 billion. Carrier Global had a net margin of 18.33% and a return on equity of 17.83%. The company’s revenue for the quarter was down 6.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.83 earnings per share. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. As a group, equities analysts anticipate that Carrier Global Corporation will post 2.99 EPS for the current fiscal year.

Carrier Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 18th. Investors of record on Wednesday, October 29th will be issued a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Wednesday, October 29th. Carrier Global’s dividend payout ratio is currently 19.61%.

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

Analyst Ratings Changes

A number of brokerages recently commented on CARR. Rothschild & Co Redburn lowered their price objective on shares of Carrier Global from $76.00 to $66.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 1st. Wolfe Research lowered their price objective on shares of Carrier Global from $77.00 to $76.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 8th. Barclays lowered their price objective on shares of Carrier Global from $82.00 to $74.00 and set an “overweight” rating on the stock in a research report on Thursday, September 11th. Oppenheimer downgraded shares of Carrier Global from an “outperform” rating to a “market perform” rating in a research report on Tuesday, October 14th. Finally, Royal Bank Of Canada lowered their price objective on shares of Carrier Global from $87.00 to $75.00 and set an “outperform” rating on the stock in a research report on Friday, September 12th. Eleven investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Carrier Global currently has an average rating of “Moderate Buy” and an average target price of $75.41.

Carrier Global 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.