PFG Advisors Purchases New Position in Carrier Global Corporation $CARR

PFG Advisors bought a new stake in Carrier Global Corporation (NYSE:CARR) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 2,817 shares of the company’s stock, valued at approximately $206,000.

Several other hedge funds also recently made changes to their positions in the company. Costello Asset Management INC increased 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 position in shares of Carrier Global by 1.3% during the second 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 last quarter. Penobscot Investment Management Company Inc. increased 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 valued at $1,525,000 after acquiring an additional 155 shares during the period. Lindbrook Capital LLC raised its position in Carrier Global by 1.3% in the 1st quarter. Lindbrook Capital LLC now owns 12,294 shares of the company’s stock valued at $779,000 after purchasing an additional 156 shares during the last quarter. Finally, Abacus Wealth Partners LLC raised its position 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 during the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Wall Street Analysts Forecast Growth

CARR has been the topic of a number of recent research reports. Zacks Research lowered shares of Carrier Global from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 14th. JPMorgan Chase & Co. dropped their price target on Carrier Global from $61.00 to $60.00 and set a “neutral” rating on the stock in a research report on Friday, October 31st. Wolfe Research decreased their price objective on Carrier Global from $76.00 to $75.00 and set an “outperform” rating for the company in a research report on Wednesday, October 29th. Deutsche Bank Aktiengesellschaft lowered their target price on Carrier Global from $70.00 to $64.00 and set a “hold” rating on the stock in a research note on Wednesday, October 29th. Finally, Oppenheimer restated a “market perform” rating on shares of Carrier Global in a research note on Wednesday, October 29th. Ten research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $72.94.

Carrier Global Trading Down 1.9%

NYSE:CARR opened at $55.89 on Thursday. 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 0.75, a current ratio of 1.14 and a debt-to-equity ratio of 0.76. The stock has a fifty day simple moving average of $59.24 and a 200-day simple moving average of $66.85. The company has a market capitalization of $47.07 billion, a PE ratio of 12.50, a price-to-earnings-growth ratio of 2.38 and a beta of 1.30.

Carrier Global (NYSE:CARR) last posted its earnings results on Tuesday, October 28th. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. Carrier Global had a return on equity of 16.65% and a net margin of 18.05%.The firm had revenue of $5.58 billion for the quarter, compared to analyst estimates of $5.65 billion. During the same quarter in the prior year, the company earned $0.83 EPS. Carrier Global’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. On average, equities research analysts expect that Carrier Global Corporation will post 2.99 earnings per share for the current fiscal year.

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

Carrier Global Dividend Announcement

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 paid a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Wednesday, October 29th. Carrier Global’s dividend payout ratio (DPR) is presently 20.13%.

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.