Folger Nolan Fleming Douglas Capital Management Inc. Sells 1,246 Shares of Carrier Global Corporation $CARR

Folger Nolan Fleming Douglas Capital Management Inc. trimmed its holdings in shares of Carrier Global Corporation (NYSE:CARR) by 13.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,016 shares of the company’s stock after selling 1,246 shares during the quarter. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Carrier Global were worth $587,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its position in Carrier Global by 17.6% during the first 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. Nuveen LLC bought a new position in shares of Carrier Global in the first quarter worth approximately $649,512,000. Brown Advisory Inc. boosted its position in shares of Carrier Global by 82.6% in the first quarter. Brown Advisory Inc. now owns 9,673,979 shares of the company’s stock worth $613,330,000 after purchasing an additional 4,377,402 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Carrier Global by 0.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 6,968,294 shares of the company’s stock worth $441,790,000 after purchasing an additional 38,233 shares during the period. Finally, PineStone Asset Management Inc. boosted its position in shares of Carrier Global by 12.8% in the second quarter. PineStone Asset Management Inc. now owns 5,300,483 shares of the company’s stock worth $387,942,000 after purchasing an additional 601,967 shares during the period. 91.00% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on CARR. Wolfe Research dropped 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. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $79.00 price target on shares of Carrier Global in a research report on Tuesday, July 15th. Melius initiated coverage on shares of Carrier Global in a research report on Tuesday, July 1st. They issued a “hold” rating and a $90.00 price target for the company. The Goldman Sachs Group lowered their target price on shares of Carrier Global from $88.00 to $76.00 and set a “buy” rating on the stock in a report on Friday, September 12th. Finally, Barclays lowered their target price on shares of Carrier Global from $82.00 to $74.00 and set an “overweight” rating on the stock in a report on Thursday, September 11th. Twelve equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, Carrier Global has an average rating of “Moderate Buy” and a consensus price target of $78.42.

Carrier Global Price Performance

CARR stock opened at $56.63 on Friday. The company has a market capitalization of $48.19 billion, a PE ratio of 12.34, a price-to-earnings-growth ratio of 1.81 and a beta of 1.25. The company’s fifty day moving average price is $63.02 and its 200-day moving average price is $67.19. 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 $83.32.

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

Carrier Global Dividend Announcement

The firm also recently declared 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. The ex-dividend date of this dividend is Wednesday, October 29th. This represents a $0.90 dividend on an annualized basis and a yield of 1.6%. Carrier Global’s dividend payout ratio is presently 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.