Carrier Global (NYSE:CARR) Sets New 12-Month Low – What’s Next?

Carrier Global Corporation (NYSE:CARR)’s share price hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $54.13 and last traded at $54.2270, with a volume of 1092691 shares changing hands. The stock had previously closed at $55.16.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CARR. Rothschild & Co Redburn boosted their price target on Carrier Global from $66.00 to $67.00 in a research note on Thursday, October 30th. Royal Bank Of Canada reduced their target price 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. Robert W. Baird set a $72.00 price target on shares of Carrier Global in a research note on Wednesday, October 29th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Carrier Global from $70.00 to $64.00 and set a “hold” rating on the stock in a report on Wednesday, October 29th. Finally, Zacks Research cut shares of Carrier Global from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 14th. Ten analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Carrier Global presently has a consensus rating of “Hold” and an average price target of $72.94.

Carrier Global Stock Performance

The stock’s 50-day moving average price is $59.07 and its 200 day moving average price is $66.77. 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 company has a market cap of $46.08 billion, a P/E ratio of 12.24, a price-to-earnings-growth ratio of 2.34 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. The business had revenue of $5.58 billion for the quarter, compared to analyst estimates of $5.65 billion. Carrier Global had a net margin of 18.05% and a return on equity of 16.65%. Carrier Global’s revenue was down 6.8% compared to the same quarter last year. During the same period last year, the business posted $0.83 EPS. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. As a group, research analysts expect that Carrier Global Corporation will post 2.99 EPS for the current fiscal year.

Carrier Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 18th. Investors of record on Wednesday, October 29th will be given 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 of this dividend is Wednesday, October 29th. Carrier Global’s payout ratio is currently 20.13%.

Carrier Global declared that its board has authorized a stock repurchase program on Tuesday, October 28th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the company to reacquire up to 10.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Nuveen LLC acquired a new stake in Carrier Global during the first quarter worth about $649,512,000. JPMorgan Chase & Co. lifted its position in shares of Carrier Global by 23.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 38,536,301 shares of the company’s stock worth $2,820,485,000 after acquiring an additional 7,409,432 shares during the period. Norges Bank acquired a new stake in shares of Carrier Global during the 2nd quarter worth approximately $524,939,000. Capital International Investors grew its holdings in shares of Carrier Global by 6.7% during the 3rd quarter. Capital International Investors now owns 57,982,302 shares of the company’s stock worth $3,461,142,000 after purchasing an additional 3,630,524 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in shares of Carrier Global by 1,742.8% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,623,000 shares of the company’s stock valued at $265,167,000 after purchasing an additional 3,426,395 shares during the period. 91.00% of the stock is currently owned by institutional investors and hedge funds.

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.