Stratos Wealth Partners LTD. Reduces Holdings in Carrier Global Corporation $CARR

Stratos Wealth Partners LTD. decreased its holdings in Carrier Global Corporation (NYSE:CARR) by 10.9% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 16,616 shares of the company’s stock after selling 2,038 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Carrier Global were worth $1,216,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CARR. Nuveen LLC bought a new stake in Carrier Global during the 1st quarter worth approximately $649,512,000. JPMorgan Chase & Co. raised its stake in Carrier Global by 17.6% during the 1st quarter. JPMorgan Chase & Co. now owns 31,126,869 shares of the company’s stock worth $1,973,444,000 after acquiring an additional 4,668,929 shares during the period. Brown Advisory Inc. raised its stake in Carrier Global by 82.6% during the 1st quarter. Brown Advisory Inc. now owns 9,673,979 shares of the company’s stock worth $613,330,000 after acquiring an additional 4,377,402 shares during the period. Alliancebernstein L.P. raised its stake in Carrier Global by 61.9% during the 1st quarter. Alliancebernstein L.P. now owns 4,318,806 shares of the company’s stock worth $273,812,000 after acquiring an additional 1,651,873 shares during the period. Finally, Victory Capital Management Inc. raised its stake in Carrier Global by 23.5% during the 1st quarter. Victory Capital Management Inc. now owns 4,512,774 shares of the company’s stock worth $286,110,000 after acquiring an additional 857,694 shares during the period. Institutional investors own 91.00% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on CARR. Morgan Stanley decreased their target price on shares of Carrier Global from $75.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 14th. Melius assumed coverage on shares of Carrier Global in a research report on Tuesday, July 1st. They set a “hold” rating and a $90.00 price objective on the stock. Robert W. Baird reduced their price objective on shares of Carrier Global from $84.00 to $75.00 in a research report on Thursday, September 11th. Barclays reduced their price objective on shares of Carrier Global from $82.00 to $74.00 and set an “overweight” rating on the stock in a research report on Thursday, September 11th. Finally, Oppenheimer cut shares of Carrier Global from an “outperform” rating to a “market perform” rating in a research report on Tuesday, October 14th. Eleven investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $75.67.

Carrier Global Trading Up 3.8%

Shares of CARR opened at $59.84 on Wednesday. The company’s fifty day moving average is $61.82 and its 200 day moving average is $66.94. Carrier Global Corporation has a fifty-two week low of $54.22 and a fifty-two week high of $81.30. The stock has a market capitalization of $50.92 billion, a PE ratio of 13.04, a P/E/G ratio of 1.89 and a beta of 1.25. 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 (NYSE:CARR) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.02. Carrier Global had a net margin of 18.33% and a return on equity of 17.83%. The company had revenue of $6.11 billion for the quarter, compared to analysts’ expectations of $6.08 billion. Carrier Global has set its FY 2025 guidance at 3.000-3.100 EPS. Sell-side analysts expect that Carrier Global Corporation will post 2.99 earnings per share 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 given a $0.225 dividend. 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 currently 19.61%.

About Carrier Global

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.