Mackenzie Financial Corp Sells 60,005 Shares of Carrier Global Corporation $CARR

Mackenzie Financial Corp lessened its stake in Carrier Global Corporation (NYSE:CARR) by 11.1% in the 2nd quarter, HoldingsChannel reports. The fund owned 479,206 shares of the company’s stock after selling 60,005 shares during the quarter. Mackenzie Financial Corp’s holdings in Carrier Global were worth $35,073,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. AdvisorShares Investments LLC acquired a new stake in shares of Carrier Global in the second quarter valued at approximately $25,000. Winnow Wealth LLC bought a new position in Carrier Global in the 2nd quarter valued at $26,000. Traub Capital Management LLC bought a new position in Carrier Global in the 2nd quarter valued at $27,000. Accredited Wealth Management LLC acquired a new stake in shares of Carrier Global in the 1st quarter valued at $28,000. Finally, REAP Financial Group LLC bought a new stake in shares of Carrier Global during the second quarter worth $29,000. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Carrier Global Price Performance

CARR opened at $54.90 on Monday. The stock has a market cap of $46.24 billion, a P/E ratio of 12.28, a P/E/G ratio of 2.38 and a beta of 1.30. Carrier Global Corporation has a 12 month low of $50.30 and a 12 month high of $81.09. The company has a quick ratio of 0.75, a current ratio of 1.14 and a debt-to-equity ratio of 0.76. The company has a fifty day simple moving average of $57.02 and a 200 day simple moving average of $65.48.

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

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

Carrier Global Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 18th. Investors of record on Wednesday, October 29th were paid a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Wednesday, October 29th. Carrier Global’s dividend payout ratio is presently 20.13%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. decreased their price target on Carrier Global from $61.00 to $60.00 and set a “neutral” rating on the stock in a report on Friday, October 31st. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Carrier Global from $70.00 to $64.00 and set a “hold” rating on the stock in a research note on Wednesday, October 29th. Barclays dropped their price target on shares of Carrier Global from $82.00 to $74.00 and set an “overweight” rating for the company in a research note on Thursday, September 11th. Weiss Ratings restated a “hold (c+)” rating on shares of Carrier Global in a report on Monday, November 24th. Finally, Mizuho lowered their target price on shares of Carrier Global from $80.00 to $75.00 and set an “outperform” rating for the company in a report on Friday, October 17th. Nine equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target 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.