Carrier Global Corporation $CARR Shares Bought by Brighton Jones LLC

Brighton Jones LLC grew its stake in shares of Carrier Global Corporation (NYSE:CARR) by 4.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,730 shares of the company’s stock after acquiring an additional 427 shares during the period. Brighton Jones LLC’s holdings in Carrier Global were worth $712,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of CARR. Accredited Wealth Management LLC acquired a new stake in shares of Carrier Global during the 1st quarter valued at approximately $28,000. REAP Financial Group LLC acquired a new position in shares of Carrier Global during the 2nd quarter worth approximately $29,000. Graybill Wealth Management LTD. acquired a new position in shares of Carrier Global during the 1st quarter worth approximately $38,000. Cheviot Value Management LLC acquired a new position in shares of Carrier Global during the 1st quarter worth approximately $38,000. Finally, Richardson Financial Services Inc. raised its position in shares of Carrier Global by 1,536.6% during the 2nd quarter. Richardson Financial Services Inc. now owns 671 shares of the company’s stock worth $50,000 after purchasing an additional 630 shares during the last quarter. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on CARR. Wells Fargo & Company cut their price objective on 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. Deutsche Bank Aktiengesellschaft cut their price objective on Carrier Global from $73.00 to $70.00 and set a “hold” rating for the company in a research report on Tuesday, September 23rd. Jefferies Financial Group restated a “buy” rating on shares of Carrier Global in a research report on Thursday, September 11th. JPMorgan Chase & Co. cut their price objective on Carrier Global from $76.00 to $61.00 and set a “neutral” rating for the company in a research report on Wednesday, October 15th. Finally, The Goldman Sachs Group cut their price objective on Carrier Global from $88.00 to $76.00 and set a “buy” rating for the company in a research report on Friday, September 12th. Eleven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Carrier Global has a consensus rating of “Moderate Buy” and an average target price of $75.41.

Carrier Global Stock Up 0.9%

CARR stock opened at $58.82 on Wednesday. The stock has a market capitalization of $50.06 billion, a P/E ratio of 12.82, a PEG ratio of 1.91 and a beta of 1.25. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.80 and a current ratio of 1.17. Carrier Global Corporation has a one year low of $54.22 and a one year high of $81.09. The company has a 50 day moving average price of $60.96 and a two-hundred day moving average price of $66.99.

Carrier Global (NYSE:CARR) last released its earnings results on Tuesday, October 28th. The company reported $0.67 EPS for the quarter, hitting the consensus estimate of $0.67. The firm had revenue of $5.58 billion during the quarter, compared to analysts’ expectations of $5.65 billion. Carrier Global had a net margin of 18.33% and a return on equity of 17.83%. Carrier Global’s revenue for the quarter was down 6.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.83 EPS. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. As a group, sell-side analysts expect that Carrier Global Corporation will post 2.99 EPS for the current year.

Carrier Global announced that its Board of Directors has initiated a stock buyback plan on Tuesday, October 28th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the company to purchase up to 10.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Carrier Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 18th. Stockholders of record on Wednesday, October 29th will be paid 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 1.5%. Carrier Global’s payout ratio is currently 19.61%.

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.