Elo Mutual Pension Insurance Co Lowers Stake in Carrier Global Corporation $CARR

Elo Mutual Pension Insurance Co lessened its holdings in Carrier Global Corporation (NYSE:CARR) by 2.3% during the second quarter, Holdings Channel.com reports. The firm owned 77,905 shares of the company’s stock after selling 1,854 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Carrier Global were worth $5,702,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Costello Asset Management INC boosted its position in shares of Carrier Global by 4.2% in the 2nd quarter. Costello Asset Management INC now owns 3,153 shares of the company’s stock worth $231,000 after purchasing an additional 127 shares in the last quarter. Rehmann Capital Advisory Group boosted its holdings in Carrier Global by 1.3% in the second quarter. Rehmann Capital Advisory Group now owns 12,083 shares of the company’s stock worth $884,000 after acquiring an additional 150 shares in the last quarter. Penobscot Investment Management Company Inc. grew its stake in shares of Carrier Global by 0.7% in the second quarter. Penobscot Investment Management Company Inc. now owns 20,833 shares of the company’s stock worth $1,525,000 after acquiring an additional 155 shares during the last quarter. Abacus Wealth Partners LLC raised its position in shares of Carrier Global by 4.3% in the 2nd quarter. Abacus Wealth Partners LLC now owns 3,982 shares of the company’s stock worth $291,000 after purchasing an additional 165 shares during the last quarter. Finally, Kingsview Wealth Management LLC boosted its stake in Carrier Global by 1.0% in the 2nd quarter. Kingsview Wealth Management LLC now owns 17,110 shares of the company’s stock worth $1,252,000 after purchasing an additional 165 shares in the last quarter. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Carrier Global Price Performance

Shares of CARR opened at $53.95 on Wednesday. The firm has a fifty day simple moving average of $57.39 and a two-hundred day simple moving average of $65.88. The firm has a market cap of $45.44 billion, a PE ratio of 12.07, a P/E/G ratio of 2.25 and a beta of 1.30. 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 1-year low of $50.30 and a 1-year high of $81.09.

Carrier Global (NYSE:CARR) last issued its quarterly earnings data 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%.Carrier Global’s revenue was down 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.83 earnings per share. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. On average, equities analysts anticipate that Carrier Global Corporation will post 2.99 EPS for the current year.

Carrier Global Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 18th. Stockholders of record on Wednesday, October 29th were given a dividend of $0.225 per share. The ex-dividend date of this dividend was Wednesday, October 29th. This represents a $0.90 annualized dividend and a dividend yield of 1.7%. Carrier Global’s dividend payout ratio is presently 20.13%.

Carrier Global declared that its board has initiated a share repurchase program on Tuesday, October 28th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 10.1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

CARR has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Carrier Global from $70.00 to $64.00 and set a “hold” rating for the company in a research note on Wednesday, October 29th. Weiss Ratings restated a “hold (c+)” rating on shares of Carrier Global in a report on Monday. The Goldman Sachs Group lowered their price objective on Carrier Global from $76.00 to $72.00 and set a “buy” rating on the stock in a research report on Wednesday, October 29th. Wells Fargo & Company reduced their target price on Carrier Global from $65.00 to $62.00 and set an “equal weight” rating for the company in a report on Wednesday, October 29th. Finally, Rothschild & Co Redburn upped their price target on Carrier Global from $66.00 to $67.00 in a report on Thursday, October 30th. Nine research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $72.94.

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.