Focus Partners Advisor Solutions LLC Makes New $276,000 Investment in Carrier Global Corporation $CARR

Focus Partners Advisor Solutions LLC bought a new position in shares of Carrier Global Corporation (NYSE:CARR) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 3,776 shares of the company’s stock, valued at approximately $276,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Costello Asset Management INC lifted its position in Carrier Global by 4.2% during the second quarter. Costello Asset Management INC now owns 3,153 shares of the company’s stock valued at $231,000 after purchasing an additional 127 shares during the last quarter. Rehmann Capital Advisory Group lifted its position in Carrier Global by 1.3% during the second quarter. Rehmann Capital Advisory Group now owns 12,083 shares of the company’s stock valued at $884,000 after purchasing an additional 150 shares during the last quarter. Penobscot Investment Management Company Inc. lifted its stake in shares of Carrier Global by 0.7% in the 2nd quarter. Penobscot Investment Management Company Inc. now owns 20,833 shares of the company’s stock valued at $1,525,000 after purchasing an additional 155 shares during the last quarter. Lindbrook Capital LLC lifted its stake in shares of Carrier Global by 1.3% in the 1st quarter. Lindbrook Capital LLC now owns 12,294 shares of the company’s stock valued at $779,000 after purchasing an additional 156 shares during the last quarter. Finally, Code Waechter LLC lifted its stake in shares of Carrier Global by 5.1% in the 1st quarter. Code Waechter LLC now owns 3,383 shares of the company’s stock valued at $214,000 after purchasing an additional 164 shares during the last quarter. Institutional investors own 91.00% of the company’s stock.

Carrier Global Trading Up 1.1%

NYSE CARR opened at $59.51 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.80 and a current ratio of 1.14. The company has a market capitalization of $50.12 billion, a price-to-earnings ratio of 13.31, a price-to-earnings-growth ratio of 2.33 and a beta of 1.25. The company’s 50-day simple moving average is $60.56 and its two-hundred day simple moving average is $66.94. Carrier Global Corporation has a one year low of $54.22 and a one year high of $81.09.

Carrier Global (NYSE:CARR) last posted its earnings results on Tuesday, October 28th. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. Carrier Global had a net margin of 18.05% and a return on equity of 16.65%. The business had revenue of $5.58 billion for the quarter, compared to the consensus estimate of $5.65 billion. During the same quarter last year, the firm posted $0.83 EPS. The company’s revenue for the quarter was down 6.8% on a year-over-year basis. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. Equities analysts forecast that Carrier Global Corporation will post 2.99 EPS for the current fiscal year.

Carrier Global declared that its Board of Directors has authorized a stock buyback program on Tuesday, October 28th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 10.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Carrier Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 18th. Investors of record on Wednesday, October 29th will be paid a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 1.5%. The ex-dividend date is Wednesday, October 29th. Carrier Global’s payout ratio is 20.13%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Citigroup lowered their target price on shares of Carrier Global from $75.00 to $71.00 and set a “buy” rating for the company in a report on Wednesday. The Goldman Sachs Group reduced their price target on shares of Carrier Global from $76.00 to $72.00 and set a “buy” rating on the stock in a research note on Wednesday. Wolfe Research reduced their price target on shares of Carrier Global from $76.00 to $75.00 and set an “outperform” rating on the stock in a research note on Wednesday. Robert W. Baird set a $72.00 price target on shares of Carrier Global in a research note on Wednesday. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Carrier Global in a research note on Wednesday, October 8th. Eleven research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $74.12.

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.