Carrier Global Corporation $CARR Shares Bought by MJP Associates Inc. ADV

MJP Associates Inc. ADV lifted its holdings in shares of Carrier Global Corporation (NYSE:CARR) by 11.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,869 shares of the company’s stock after buying an additional 1,677 shares during the period. MJP Associates Inc. ADV’s holdings in Carrier Global were worth $1,161,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. AdvisorShares Investments LLC acquired a new position in Carrier Global during the 2nd quarter worth $25,000. Accredited Wealth Management LLC bought a new stake in shares of Carrier Global during the first quarter valued at about $28,000. REAP Financial Group LLC bought a new stake in shares of Carrier Global during the second quarter valued at about $29,000. Westside Investment Management Inc. lifted its holdings in Carrier Global by 387.0% in the second quarter. Westside Investment Management Inc. now owns 487 shares of the company’s stock worth $36,000 after purchasing an additional 387 shares during the period. Finally, Cheviot Value Management LLC bought a new position in Carrier Global in the 1st quarter valued at about $38,000. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Carrier Global Price Performance

NYSE CARR opened at $53.97 on Friday. Carrier Global Corporation has a 1 year low of $53.96 and a 1 year high of $81.09. The business’s fifty day moving average is $58.84 and its two-hundred day moving average is $66.72. The stock has a market capitalization of $45.46 billion, a P/E ratio of 12.07, a P/E/G ratio of 2.31 and a beta of 1.30. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.75 and a current ratio of 1.14.

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

Carrier Global announced that its board has approved a share repurchase plan on Tuesday, October 28th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the company to purchase up to 10.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Carrier Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 18th. Investors of record on Wednesday, October 29th will be paid a $0.225 dividend. The ex-dividend date of this dividend is Wednesday, October 29th. This represents a $0.90 dividend on an annualized basis and a yield of 1.7%. Carrier Global’s dividend payout ratio (DPR) is currently 20.13%.

Analyst Ratings Changes

Several equities analysts have commented on CARR shares. Wolfe Research lowered their target price on shares of Carrier Global from $76.00 to $75.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 29th. Royal Bank Of Canada dropped their target price on Carrier Global from $87.00 to $75.00 and set an “outperform” rating on the stock in a report on Friday, September 12th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Carrier Global in a research report on Wednesday, October 8th. Rothschild & Co Redburn upped their price objective 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. Ten investment 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’s stock. According to data from MarketBeat.com, Carrier Global presently has an average rating of “Hold” and an average price target of $72.94.

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.