Clifford Swan Investment Counsel LLC Trims Stock Position in Carrier Global Corporation $CARR

Clifford Swan Investment Counsel LLC cut its position in shares of Carrier Global Corporation (NYSE:CARR) by 0.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 91,479 shares of the company’s stock after selling 411 shares during the period. Clifford Swan Investment Counsel LLC’s holdings in Carrier Global were worth $6,695,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently made changes to their positions in CARR. JPMorgan Chase & Co. boosted 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. Nuveen LLC bought a new stake in shares of Carrier Global in the 1st quarter valued at about $649,512,000. Brown Advisory Inc. grew its position in shares of Carrier Global by 82.6% in the 1st 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 during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Carrier Global by 0.6% during the 1st 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 acquiring an additional 38,233 shares in the last quarter. Finally, PineStone Asset Management Inc. lifted its position in Carrier Global by 12.8% during the second quarter. PineStone Asset Management Inc. now owns 5,300,483 shares of the company’s stock valued at $387,942,000 after acquiring an additional 601,967 shares during the last quarter. 91.00% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Weiss Ratings restated a “buy (b-)” rating on shares of Carrier Global in a research note on Wednesday, October 8th. Barclays decreased their price objective on shares of Carrier Global from $82.00 to $74.00 and set an “overweight” rating for the company in a research report on Thursday, September 11th. Jefferies Financial Group restated a “buy” rating on shares of Carrier Global in a research note on Thursday, September 11th. The Goldman Sachs Group lowered their price objective on shares of 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, Mizuho cut their target price on Carrier Global from $80.00 to $75.00 and set an “outperform” rating on the stock in a research report on Friday, October 17th. Eleven equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Carrier Global presently has a consensus rating of “Hold” and a consensus target price of $75.67.

Carrier Global Price Performance

NYSE:CARR opened at $56.70 on Thursday. The stock has a market capitalization of $48.25 billion, a PE ratio of 12.35, a price-to-earnings-growth ratio of 1.96 and a beta of 1.25. Carrier Global Corporation has a 52 week low of $54.22 and a 52 week high of $81.09. 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 stock’s 50-day moving average price is $61.61 and its 200-day moving average price is $66.87.

Carrier Global (NYSE:CARR) last announced its earnings results on Tuesday, July 29th. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.02. The business had revenue of $6.11 billion for the quarter, compared to analyst estimates of $6.08 billion. Carrier Global had a net margin of 18.33% and a return on equity of 17.83%. Carrier Global has set its FY 2025 guidance at 3.000-3.100 EPS. As a group, equities analysts expect that Carrier Global Corporation will post 2.99 EPS for the current fiscal year.

Carrier Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 18th. Stockholders 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 1.6%. The ex-dividend date is Wednesday, October 29th. Carrier Global’s payout ratio is currently 19.61%.

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.