Carrier Global Corporation $CARR Shares Sold by Shelton Capital Management

Shelton Capital Management decreased its holdings in shares of Carrier Global Corporation (NYSE:CARR) by 5.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 95,287 shares of the company’s stock after selling 5,715 shares during the quarter. Shelton Capital Management’s holdings in Carrier Global were worth $6,974,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

CARR has been the topic of a number of recent research reports. Barclays lowered their price objective on Carrier Global from $82.00 to $74.00 and set an “overweight” rating on the stock in a research note on Thursday, September 11th. Weiss Ratings reissued a “hold (c+)” rating on shares of Carrier Global in a research report on Monday, November 24th. Rothschild & Co Redburn raised their price objective on shares of Carrier Global from $66.00 to $67.00 in a research report on Thursday, October 30th. Wells Fargo & Company reduced their target price on shares of Carrier Global from $65.00 to $62.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 29th. Finally, Robert W. Baird set a $72.00 price target on shares of Carrier Global in a research note on Wednesday, October 29th. Nine equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, Carrier Global has an average rating of “Hold” and a consensus target price of $72.94.

Carrier Global Price Performance

Shares of CARR opened at $54.23 on Tuesday. The firm has a 50-day simple moving average of $56.90 and a two-hundred day simple moving average of $65.34. The stock has a market cap of $45.67 billion, a PE ratio of 12.13, a P/E/G ratio of 2.38 and a beta of 1.30. Carrier Global Corporation has a 1-year low of $50.30 and a 1-year high of $81.09. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.14 and a quick ratio of 0.75.

Carrier Global (NYSE:CARR) last posted its quarterly earnings data 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. Carrier Global had a net margin of 18.05% and a return on equity of 16.65%. The firm had revenue of $5.58 billion during the quarter, compared to analysts’ expectations of $5.65 billion. During the same quarter last year, the company posted $0.83 EPS. The firm’s quarterly 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. As a group, analysts forecast that Carrier Global Corporation will post 2.99 EPS for the current year.

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

Carrier Global Dividend Announcement

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

Carrier Global 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.