Carrier Global Corporation $CARR Stock Position Decreased by Retirement Systems of Alabama

Retirement Systems of Alabama cut its stake in shares of Carrier Global Corporation (NYSE:CARR) by 1.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 171,084 shares of the company’s stock after selling 2,452 shares during the quarter. Retirement Systems of Alabama’s holdings in Carrier Global were worth $12,522,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Golden State Wealth Management LLC boosted its position in shares of Carrier Global by 51.8% in the first quarter. Golden State Wealth Management LLC now owns 1,389 shares of the company’s stock worth $88,000 after buying an additional 474 shares during the period. Ransom Advisory Ltd acquired a new stake in shares of Carrier Global in the first quarter worth $400,000. Shell Asset Management Co. boosted its position in shares of Carrier Global by 98.4% in the second quarter. Shell Asset Management Co. now owns 24,160 shares of the company’s stock worth $1,768,000 after buying an additional 11,980 shares during the period. Nordea Investment Management AB boosted its position in shares of Carrier Global by 1.5% in the second quarter. Nordea Investment Management AB now owns 73,150 shares of the company’s stock worth $5,369,000 after buying an additional 1,074 shares during the period. Finally, Aberdeen Group plc boosted its position in shares of Carrier Global by 1.8% in the first quarter. Aberdeen Group plc now owns 717,658 shares of the company’s stock worth $44,854,000 after buying an additional 12,346 shares during the period. 91.00% of the stock is owned by institutional investors.

Carrier Global Price Performance

NYSE CARR opened at $59.51 on Friday. Carrier Global Corporation has a fifty-two week low of $54.22 and a fifty-two week high of $81.09. The stock’s 50-day moving average is $60.56 and its two-hundred day moving average is $66.98. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.14 and a quick ratio of 0.80. The firm has a market cap of $50.12 billion, a P/E ratio of 13.31, a price-to-earnings-growth ratio of 2.36 and a beta of 1.25.

Carrier Global (NYSE:CARR) last posted its earnings results on Tuesday, October 28th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.10. Carrier Global had a return on equity of 16.65% and a net margin of 18.05%.The company had revenue of $5.58 billion for the quarter, compared to analyst estimates of $5.65 billion. During the same period last year, the company earned $0.83 earnings per share. The business’s revenue was down 6.8% compared to the same quarter last year. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. On average, analysts anticipate 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 buyback plan on Tuesday, October 28th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 10.1% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Carrier Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 18th. Shareholders 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 yield of 1.5%. The ex-dividend date is Wednesday, October 29th. Carrier Global’s dividend payout ratio (DPR) is 20.13%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Rothschild & Co Redburn lifted their price objective on Carrier Global from $66.00 to $67.00 in a research report on Thursday. Deutsche Bank Aktiengesellschaft reduced their price objective on Carrier Global from $70.00 to $64.00 and set a “hold” rating for the company in a research report on Wednesday. Zacks Research cut Carrier Global from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 14th. Morgan Stanley reduced their price objective on Carrier Global from $75.00 to $60.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 14th. Finally, The Goldman Sachs Group reduced their price objective on Carrier Global from $76.00 to $72.00 and set a “buy” rating for the company in a research report on Wednesday. Eleven research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Carrier Global presently has an average rating of “Moderate Buy” and an average price target of $74.18.

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.