15,000 Shares in Carrier Global Corporation $CARR Bought by Glaxis Capital Management LLC

Glaxis Capital Management LLC purchased a new position in Carrier Global Corporation (NYSE:CARR) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 15,000 shares of the company’s stock, valued at approximately $1,098,000. Carrier Global accounts for approximately 1.5% of Glaxis Capital Management LLC’s investment portfolio, making the stock its 25th biggest position.

Several other institutional investors have also recently made changes to their positions in CARR. AdvisorShares Investments LLC acquired a new stake in shares of Carrier Global in the 2nd quarter valued at about $25,000. Accredited Wealth Management LLC acquired a new stake in Carrier Global in the first quarter valued at approximately $28,000. REAP Financial Group LLC bought a new stake in shares of Carrier Global during the second quarter valued at approximately $29,000. Westside Investment Management Inc. increased its holdings in shares of Carrier Global by 387.0% during the second quarter. Westside Investment Management Inc. now owns 487 shares of the company’s stock valued at $36,000 after acquiring an additional 387 shares in the last quarter. Finally, Cheviot Value Management LLC acquired a new position in shares of Carrier Global during the first quarter worth approximately $38,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Trading Down 2.2%

Shares of CARR stock opened at $53.97 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.75 and a current ratio of 1.14. The company has a market capitalization of $45.46 billion, a price-to-earnings ratio of 12.07, a PEG ratio of 2.31 and a beta of 1.30. Carrier Global Corporation has a 52-week low of $53.96 and a 52-week high of $81.09. The company has a 50-day simple moving average of $58.84 and a two-hundred day simple moving average of $66.72.

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

Carrier Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 18th. Shareholders of record on Wednesday, October 29th will be paid a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Wednesday, October 29th. Carrier Global’s dividend payout ratio is 20.13%.

Carrier Global announced that its board has approved a share 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 a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of analysts have commented on CARR shares. The Goldman Sachs Group decreased their price target on shares of Carrier Global from $76.00 to $72.00 and set a “buy” rating for the company in a research note on Wednesday, October 29th. Robert W. Baird set a $72.00 target price on shares of Carrier Global in a research report on Wednesday, October 29th. Morgan Stanley lowered 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 report on Tuesday, October 14th. Royal Bank Of Canada cut their price target on Carrier Global from $87.00 to $75.00 and set an “outperform” rating for the company in a research note on Friday, September 12th. Finally, Mizuho lowered their price objective on Carrier Global from $80.00 to $75.00 and set an “outperform” rating for the company in a research note on Friday, October 17th. Ten investment 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 an average rating of “Hold” and an average 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.