Carrier Global Corporation $CARR Shares Sold by Bank of Montreal Can

Bank of Montreal Can lowered its stake in shares of Carrier Global Corporation (NYSE:CARR) by 21.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 519,210 shares of the company’s stock after selling 139,570 shares during the period. Bank of Montreal Can’s holdings in Carrier Global were worth $38,001,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Ransom Advisory Ltd purchased a new stake in shares of Carrier Global during the 1st quarter valued at about $400,000. Shell Asset Management Co. raised its holdings in shares of Carrier Global by 98.4% during the 2nd quarter. Shell Asset Management Co. now owns 24,160 shares of the company’s stock valued at $1,768,000 after buying an additional 11,980 shares during the period. Nordea Investment Management AB raised its holdings in shares of Carrier Global by 1.5% during the 2nd quarter. Nordea Investment Management AB now owns 73,150 shares of the company’s stock valued at $5,369,000 after buying an additional 1,074 shares during the period. Aberdeen Group plc raised its holdings in shares of Carrier Global by 1.8% during the 1st quarter. Aberdeen Group plc now owns 717,658 shares of the company’s stock valued at $44,854,000 after buying an additional 12,346 shares during the period. Finally, US Bancorp DE raised its holdings in shares of Carrier Global by 3.9% during the 2nd quarter. US Bancorp DE now owns 529,191 shares of the company’s stock valued at $38,732,000 after buying an additional 19,976 shares during the period. Institutional investors and hedge funds own 91.00% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on CARR. Robert W. Baird set a $72.00 target price on Carrier Global in a report on Wednesday, October 29th. Deutsche Bank Aktiengesellschaft dropped their target price on Carrier Global from $70.00 to $64.00 and set a “hold” rating on the stock in a report on Wednesday, October 29th. Weiss Ratings restated a “buy (b-)” rating on shares of Carrier Global in a report on Wednesday, October 8th. Morgan Stanley dropped their price objective on Carrier Global from $75.00 to $60.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 14th. Finally, Jefferies Financial Group restated a “buy” rating on shares of Carrier Global in a report on Thursday, September 11th. Eleven 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 stock. Based on data from MarketBeat, Carrier Global currently has an average rating of “Moderate Buy” and a consensus target price of $74.18.

Carrier Global Price Performance

Shares of CARR opened at $56.97 on Thursday. The firm has a market cap of $47.98 billion, a price-to-earnings ratio of 12.74, a PEG ratio of 2.41 and a beta of 1.30. The stock has a 50 day moving average of $60.00 and a 200-day moving average of $66.94. The company has a current ratio of 1.14, a quick ratio of 0.75 and a debt-to-equity ratio of 0.76. Carrier Global Corporation has a 52 week low of $54.22 and a 52 week high of $81.09.

Carrier Global (NYSE:CARR) last issued its earnings results on Tuesday, October 28th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.57 by $0.10. The company 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 business’s revenue was down 6.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.83 EPS. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. As a group, analysts forecast that Carrier Global Corporation will post 2.99 EPS for the current year.

Carrier Global declared that its board has initiated a share buyback plan on Tuesday, October 28th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 10.1% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Carrier Global Announces Dividend

The business 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. The ex-dividend date is Wednesday, October 29th. This represents a $0.90 dividend on an annualized basis and a yield of 1.6%. Carrier Global’s payout ratio is currently 20.13%.

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.