Cardinal Point Capital Management ULC Makes New Investment in Carrier Global Corporation $CARR

Cardinal Point Capital Management ULC acquired a new stake in shares of Carrier Global Corporation (NYSE:CARR) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 6,560 shares of the company’s stock, valued at approximately $480,000.

Several other institutional investors also recently made changes to their positions in CARR. Nuveen LLC purchased a new stake in shares of Carrier Global during the 1st quarter valued at $649,512,000. JPMorgan Chase & Co. grew its stake in shares of Carrier Global by 17.6% during the 1st quarter. JPMorgan Chase & Co. now owns 31,126,869 shares of the company’s stock valued at $1,973,444,000 after buying an additional 4,668,929 shares during the period. Brown Advisory Inc. grew its stake in shares of Carrier Global by 82.6% during the 1st quarter. Brown Advisory Inc. now owns 9,673,979 shares of the company’s stock valued at $613,330,000 after buying an additional 4,377,402 shares during the period. Alliancebernstein L.P. grew its stake in shares of Carrier Global by 61.9% during the 1st quarter. Alliancebernstein L.P. now owns 4,318,806 shares of the company’s stock valued at $273,812,000 after buying an additional 1,651,873 shares during the period. Finally, Victory Capital Management Inc. grew its stake in shares of Carrier Global by 23.5% during the 1st quarter. Victory Capital Management Inc. now owns 4,512,774 shares of the company’s stock valued at $286,110,000 after buying an additional 857,694 shares during the period. 91.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on CARR. Wells Fargo & Company decreased their price target on shares of Carrier Global from $75.00 to $65.00 and set an “equal weight” rating for the company in a research report on Monday, October 6th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Carrier Global in a research report on Thursday, September 11th. Wolfe Research decreased their price target on shares of Carrier Global from $77.00 to $76.00 and set an “outperform” rating for the company in a research report on Wednesday, October 8th. The Goldman Sachs Group decreased their price target on shares of Carrier Global from $88.00 to $76.00 and set a “buy” rating for the company in a research report on Friday, September 12th. Finally, Mizuho decreased their price target on shares of Carrier Global from $80.00 to $75.00 and set an “outperform” rating for the company in a research report on Friday, October 17th. Eleven investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $75.67.

Carrier Global Stock Performance

Shares of CARR stock opened at $57.92 on Friday. Carrier Global Corporation has a 12 month low of $54.22 and a 12 month high of $81.09. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.17 and a quick ratio of 0.80. The firm has a market capitalization of $49.29 billion, a P/E ratio of 12.62, a P/E/G ratio of 1.88 and a beta of 1.25. The company’s fifty day moving average price is $61.29 and its two-hundred day moving average price is $66.89.

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

Carrier Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 18th. Stockholders 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 dividend yield of 1.6%. The ex-dividend date is Wednesday, October 29th. Carrier Global’s dividend payout ratio is 19.61%.

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.