Souders Financial Advisors Cuts Position in Carrier Global Corporation $CARR

Souders Financial Advisors trimmed its position in shares of Carrier Global Corporation (NYSE:CARR) by 15.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 29,577 shares of the company’s stock after selling 5,200 shares during the period. Souders Financial Advisors’ holdings in Carrier Global were worth $2,165,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in CARR. AdvisorShares Investments LLC purchased a new position in Carrier Global in the second quarter valued at approximately $25,000. Accredited Wealth Management LLC acquired a new stake in shares of Carrier Global in the first quarter valued at approximately $28,000. REAP Financial Group LLC acquired a new stake in shares of Carrier Global in the second quarter valued at approximately $29,000. Westside Investment Management Inc. boosted its holdings in shares of Carrier Global by 387.0% in the second quarter. Westside Investment Management Inc. now owns 487 shares of the company’s stock valued at $36,000 after acquiring an additional 387 shares during the period. Finally, Graybill Wealth Management LTD. acquired a new stake in shares of Carrier Global in the first quarter valued at approximately $38,000. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CARR has been the subject of several research analyst reports. Zacks Research downgraded Carrier Global from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 14th. JPMorgan Chase & Co. decreased their price target on Carrier Global from $61.00 to $60.00 and set a “neutral” rating for the company in a report on Friday, October 31st. Wolfe Research reduced their target price on Carrier Global from $76.00 to $75.00 and set an “outperform” rating for the company in a report on Wednesday, October 29th. Rothschild & Co Redburn raised their target price on Carrier Global from $66.00 to $67.00 in a report on Thursday, October 30th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Carrier Global in a research note on Wednesday, October 29th. Eleven analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Carrier Global currently has an average rating of “Moderate Buy” and an average target price of $74.18.

Carrier Global Stock Down 1.0%

CARR opened at $56.97 on Thursday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.14 and a quick ratio of 0.75. The stock has a market capitalization of $47.98 billion, a price-to-earnings ratio of 12.74, a price-to-earnings-growth ratio of 2.41 and a beta of 1.30. The business has a 50-day moving average of $60.00 and a two-hundred day moving average of $66.94. Carrier Global Corporation has a 12 month low of $54.22 and a 12 month high of $81.09.

Carrier Global (NYSE:CARR) last posted its quarterly earnings results on Tuesday, October 28th. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.57 by $0.10. The company had revenue of $5.58 billion during the quarter, compared to analysts’ expectations of $5.65 billion. Carrier Global had a return on equity of 16.65% and a net margin of 18.05%.The firm’s revenue was down 6.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.83 EPS. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. On average, research analysts expect that Carrier Global Corporation will post 2.99 earnings per share for the current year.

Carrier Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 18th. Shareholders of record on Wednesday, October 29th will be issued a $0.225 dividend. The ex-dividend date is Wednesday, October 29th. This represents a $0.90 annualized dividend and a yield of 1.6%. Carrier Global’s payout ratio is 20.13%.

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

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.