Carrier Global Corporation $CARR Stock Position Trimmed by ELCO Management Co. LLC

by · The Cerbat Gem

ELCO Management Co. LLC cut its position in Carrier Global Corporation (NYSE:CARR – Free Report) by 2.2% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,464 shares of the company’s stock after selling 300 shares during the quarter. ELCO Management Co. LLC’s holdings in Carrier Global were worth $985,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. REAP Financial Group LLC bought a new stake in Carrier Global in the 2nd quarter valued at about $29,000. Accredited Wealth Management LLC bought a new stake in shares of Carrier Global during the 1st quarter worth about $28,000. Graybill Wealth Management LTD. bought a new stake in shares of Carrier Global during the 1st quarter worth about $38,000. Cheviot Value Management LLC bought a new stake in shares of Carrier Global during the 1st quarter worth about $38,000. Finally, Richardson Financial Services Inc. raised its position in shares of Carrier Global by 1,536.6% during the 2nd quarter. Richardson Financial Services Inc. now owns 671 shares of the company’s stock worth $50,000 after buying an additional 630 shares in the last quarter. 91.00% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Wells Fargo & Company dropped their price target on shares of Carrier Global from $75.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Monday, October 6th. Rothschild & Co Redburn dropped their price target on shares of Carrier Global from $76.00 to $66.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 1st. JPMorgan Chase & Co. dropped their price target on shares of Carrier Global from $76.00 to $61.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 15th. Citigroup dropped their price target on shares of Carrier Global from $89.00 to $75.00 and set a “buy” rating on the stock in a research report on Friday, September 12th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Carrier Global from $73.00 to $70.00 and set a “hold” rating on the stock in a research report on Tuesday, September 23rd. Eleven analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Carrier Global currently has a consensus rating of “Moderate Buy” and an average target price of $75.41.

Read Our Latest Research Report on CARR

Carrier Global Stock Up 0.9%

NYSE CARR opened at $58.82 on Wednesday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.17 and a quick ratio of 0.80. The company’s 50 day simple moving average is $60.96 and its 200 day simple moving average is $66.99. Carrier Global Corporation has a 12 month low of $54.22 and a 12 month high of $81.09. The company has a market capitalization of $50.06 billion, a P/E ratio of 12.82, a PEG ratio of 1.91 and a beta of 1.25.

Carrier Global (NYSE:CARR – Get Free Report) last released its earnings results on Tuesday, October 28th. The company reported $0.67 EPS for the quarter, hitting analysts’ consensus estimates of $0.67. Carrier Global had a net margin of 18.33% and a return on equity of 17.83%. The business had revenue of $5.58 billion for the quarter, compared to the consensus estimate of $5.65 billion. During the same period in the previous year, the firm earned $0.83 EPS. The business’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 research 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 announced a quarterly dividend, which will be paid on Tuesday, November 18th. Investors of record on Wednesday, October 29th will be issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Wednesday, October 29th. Carrier Global’s payout ratio is presently 19.61%.

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

About Carrier Global

(Free Report)

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.

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