MGO One Seven LLC Buys Shares of 2,735 Carrier Global Corporation $CARR

MGO One Seven LLC bought a new stake in Carrier Global Corporation (NYSE:CARR) during the second quarter, Holdings Channel.com reports. The institutional investor bought 2,735 shares of the company’s stock, valued at approximately $200,000.

Several other hedge funds have also made changes to their positions in the business. JPMorgan Chase & Co. lifted its position in shares of Carrier Global by 17.6% during the first quarter. JPMorgan Chase & Co. now owns 31,126,869 shares of the company’s stock worth $1,973,444,000 after purchasing an additional 4,668,929 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Carrier Global during the first quarter worth about $649,512,000. Brown Advisory Inc. increased its stake in shares of Carrier Global by 82.6% during the first quarter. Brown Advisory Inc. now owns 9,673,979 shares of the company’s stock worth $613,330,000 after buying an additional 4,377,402 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Carrier Global by 0.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 6,968,294 shares of the company’s stock worth $441,790,000 after buying an additional 38,233 shares during the period. Finally, PineStone Asset Management Inc. increased its stake in shares of Carrier Global by 12.8% during the second quarter. PineStone Asset Management Inc. now owns 5,300,483 shares of the company’s stock worth $387,942,000 after buying an additional 601,967 shares during the period. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Stock Performance

Shares of CARR opened at $57.64 on Tuesday. The company has a current ratio of 1.17, a quick ratio of 0.80 and a debt-to-equity ratio of 0.76. The firm has a market cap of $49.06 billion, a PE ratio of 12.56, a price-to-earnings-growth ratio of 1.85 and a beta of 1.25. The company’s 50 day simple moving average is $61.94 and its 200-day simple moving average is $66.99. Carrier Global Corporation has a 12-month low of $54.22 and a 12-month high of $82.18.

Carrier Global (NYSE:CARR) last announced its earnings results on Tuesday, July 29th. The company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. The business had revenue of $6.11 billion for the quarter, compared to analyst estimates of $6.08 billion. Carrier Global had a net margin of 18.33% and a return on equity of 17.83%. Carrier Global has set its FY 2025 guidance at 3.000-3.100 EPS. As a group, equities analysts predict that Carrier Global Corporation will post 2.99 EPS for the current year.

Carrier Global Announces Dividend

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 issued a dividend of $0.225 per share. The ex-dividend date of this dividend is Wednesday, October 29th. This represents a $0.90 annualized dividend and a dividend yield of 1.6%. Carrier Global’s dividend payout ratio (DPR) is currently 19.61%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CARR. The Goldman Sachs Group cut their target price on shares of Carrier Global from $88.00 to $76.00 and set a “buy” rating on the stock in a research note on Friday, September 12th. Mizuho cut their target price on shares of Carrier Global from $80.00 to $75.00 and set an “outperform” rating on the stock in a research note on Friday. Wells Fargo & Company cut their target price on shares of Carrier Global from $75.00 to $65.00 and set an “equal weight” rating on the stock in a research note on Monday, October 6th. Zacks Research lowered shares of Carrier Global from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 14th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Carrier Global from $73.00 to $70.00 and set a “hold” rating on the stock in a research note on Tuesday, September 23rd. Eleven analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $75.67.

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.