Waters Parkerson & CO. LLC Makes New Investment in Carrier Global Corporation $CARR

Waters Parkerson & CO. LLC purchased a new position in shares of Carrier Global Corporation (NYSE:CARR) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 70,370 shares of the company’s stock, valued at approximately $4,201,000.

A number of other large investors have also made changes to their positions in CARR. Costello Asset Management INC grew its position in Carrier Global by 4.2% during the second quarter. Costello Asset Management INC now owns 3,153 shares of the company’s stock worth $231,000 after buying an additional 127 shares during the period. Rehmann Capital Advisory Group grew its holdings in shares of Carrier Global by 1.3% in the 2nd quarter. Rehmann Capital Advisory Group now owns 12,083 shares of the company’s stock worth $884,000 after acquiring an additional 150 shares during the period. Penobscot Investment Management Company Inc. grew its holdings in shares of Carrier Global by 0.7% in the 2nd quarter. Penobscot Investment Management Company Inc. now owns 20,833 shares of the company’s stock worth $1,525,000 after acquiring an additional 155 shares during the period. Abacus Wealth Partners LLC increased its stake in Carrier Global by 4.3% in the 2nd quarter. Abacus Wealth Partners LLC now owns 3,982 shares of the company’s stock valued at $291,000 after purchasing an additional 165 shares in the last quarter. Finally, Kingsview Wealth Management LLC raised its holdings in Carrier Global by 1.0% during the second quarter. Kingsview Wealth Management LLC now owns 17,110 shares of the company’s stock worth $1,252,000 after purchasing an additional 165 shares during the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Up 1.2%

Shares of NYSE:CARR opened at $56.20 on Friday. The stock has a 50-day simple moving average of $53.82 and a 200-day simple moving average of $61.16. The stock has a market capitalization of $47.33 billion, a P/E ratio of 12.57, a PEG ratio of 2.15 and a beta of 1.31. Carrier Global Corporation has a 1 year low of $50.24 and a 1 year high of $81.09. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.75 and a current ratio of 1.14.

Carrier Global (NYSE:CARR) last announced its quarterly earnings results on Tuesday, October 28th. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $5.65 billion. During the same period in the previous year, the company posted $0.83 earnings per share. Carrier Global’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. Equities analysts forecast that Carrier Global Corporation will post 2.99 earnings per share for the current year.

Carrier Global announced that its Board of Directors has authorized a stock buyback program on Tuesday, October 28th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the company to buy up to 10.1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Carrier Global Increases Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Royal Bank Of Canada dropped their target price on shares of Carrier Global from $75.00 to $70.00 and set an “outperform” rating for the company in a report on Friday, December 5th. Mizuho lowered their price target on shares of Carrier Global from $75.00 to $67.00 and set an “outperform” rating on the stock in a research report on Monday, January 5th. Morgan Stanley set a $55.00 price objective on Carrier Global in a research report on Thursday, January 8th. Barclays reduced their target price on Carrier Global from $74.00 to $72.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 10th. Finally, Zacks Research raised Carrier Global from a “strong sell” rating to a “hold” rating in a research report on Friday, November 21st. Ten equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average 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.