Richardson Financial Services Inc. Boosts Position in Carrier Global Corporation $CARR

Richardson Financial Services Inc. boosted its position in shares of Carrier Global Corporation (NYSE:CARR) by 1,536.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 671 shares of the company’s stock after acquiring an additional 630 shares during the quarter. Richardson Financial Services Inc.’s holdings in Carrier Global were worth $50,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. JPMorgan Chase & Co. increased 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 acquiring an additional 4,668,929 shares during the last quarter. Nuveen LLC purchased a new stake in Carrier Global in the first quarter worth about $649,512,000. Brown Advisory Inc. increased its position in Carrier Global by 82.6% in the first quarter. Brown Advisory Inc. now owns 9,673,979 shares of the company’s stock worth $613,330,000 after buying an additional 4,377,402 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Carrier Global by 0.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 6,968,294 shares of the company’s stock worth $441,790,000 after buying an additional 38,233 shares in the last quarter. Finally, PineStone Asset Management Inc. increased its position in Carrier Global by 12.8% in the second quarter. PineStone Asset Management Inc. now owns 5,300,483 shares of the company’s stock worth $387,942,000 after buying an additional 601,967 shares in the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Analyst Ratings Changes

CARR has been the subject of a number of analyst reports. Jefferies Financial Group restated a “buy” rating on shares of Carrier Global in a research report on Thursday, September 11th. Citigroup dropped their price objective on Carrier Global from $89.00 to $75.00 and set a “buy” rating for the company in a research note on Friday, September 12th. Morgan Stanley dropped their price objective on Carrier Global from $78.00 to $75.00 and set an “equal weight” rating for the company in a research note on Friday, August 8th. The Goldman Sachs Group dropped their price objective on Carrier Global from $88.00 to $76.00 and set a “buy” rating for the company in a research note on Friday, September 12th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $79.00 price objective on shares of Carrier Global in a research note on Tuesday, July 15th. Twelve analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $78.42.

Carrier Global Price Performance

Shares of Carrier Global stock opened at $56.63 on Friday. The stock has a 50 day moving average of $63.02 and a 200 day moving average of $67.19. Carrier Global Corporation has a 12 month low of $54.22 and a 12 month high of $83.32. The firm has a market cap of $48.19 billion, a PE ratio of 12.34, a PEG ratio of 1.76 and a beta of 1.25. The company has a current ratio of 1.17, a quick ratio of 0.80 and a debt-to-equity ratio of 0.76.

Carrier Global (NYSE:CARR) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $0.92 EPS for the quarter, beating 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 company had revenue of $6.11 billion during the quarter, compared to analyst estimates of $6.08 billion. Carrier Global has set its FY 2025 guidance at 3.000-3.100 EPS. On average, research analysts expect that Carrier Global Corporation will post 2.99 EPS for the current fiscal year.

Carrier Global Announces Dividend

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