AMG National Trust Bank Grows Stock Holdings in Carrier Global Corporation $CARR

AMG National Trust Bank grew its stake in shares of Carrier Global Corporation (NYSE:CARR) by 233.1% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 42,754 shares of the company’s stock after buying an additional 29,919 shares during the quarter. AMG National Trust Bank’s holdings in Carrier Global were worth $3,129,000 at the end of the most recent quarter.

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

Carrier Global Stock Up 1.1%

Shares of Carrier Global stock opened at $59.51 on Friday. The company has a fifty day moving average price of $60.56 and a 200 day moving average price of $66.94. The company has a current ratio of 1.14, a quick ratio of 0.80 and a debt-to-equity ratio of 0.76. Carrier Global Corporation has a twelve month low of $54.22 and a twelve month high of $81.09. The stock has a market cap of $50.12 billion, a price-to-earnings ratio of 13.31, a price-to-earnings-growth ratio of 2.33 and a beta of 1.25.

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, topping 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 during the quarter, compared to analysts’ expectations of $5.65 billion. During the same period in the prior year, the company earned $0.83 EPS. The firm’s revenue was down 6.8% on a year-over-year basis. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. Equities research analysts forecast that Carrier Global Corporation will post 2.99 earnings per share 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. Shareholders of record on Wednesday, October 29th will be given a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Wednesday, October 29th. Carrier Global’s dividend payout ratio is presently 20.13%.

Carrier Global declared that its board has authorized a share repurchase plan on Tuesday, October 28th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the company to purchase up to 10.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Wells Fargo & Company lowered their price objective on shares of Carrier Global from $65.00 to $62.00 and set an “equal weight” rating for the company in a research note on Wednesday. Morgan Stanley lowered their price objective on shares of Carrier Global from $75.00 to $60.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 14th. Royal Bank Of Canada lowered their price objective on shares of Carrier Global from $87.00 to $75.00 and set an “outperform” rating for the company in a research note on Friday, September 12th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Carrier Global in a research report on Thursday, September 11th. Finally, Citigroup decreased their price target on shares of Carrier Global from $75.00 to $71.00 and set a “buy” rating for the company in a research report on Wednesday. Eleven equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.12.

Carrier Global Company 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.