Savvy Advisors Inc. Purchases 1,012 Shares of Carrier Global Corporation $CARR

Savvy Advisors Inc. increased its position in shares of Carrier Global Corporation (NYSE:CARR) by 27.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,633 shares of the company’s stock after acquiring an additional 1,012 shares during the period. Savvy Advisors Inc.’s holdings in Carrier Global were worth $339,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of CARR. Nuveen LLC bought a new stake in Carrier Global during the 1st quarter worth approximately $649,512,000. JPMorgan Chase & Co. increased its holdings 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. increased its holdings 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. increased its holdings 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. increased its holdings 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.

Analyst Ratings Changes

CARR has been the topic of a number of analyst reports. Barclays decreased their target price on shares of Carrier Global from $82.00 to $74.00 and set an “overweight” rating on the stock in a report on Thursday, September 11th. Royal Bank Of Canada cut their price target on shares of Carrier Global from $87.00 to $75.00 and set an “outperform” rating for the company in a research note on Friday, September 12th. Wells Fargo & Company cut their price target on shares of Carrier Global from $65.00 to $62.00 and set an “equal weight” rating for the company in a research note on Wednesday. Zacks Research cut shares of Carrier Global from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 14th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Carrier Global in a research note on Thursday, September 11th. Eleven analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Carrier Global presently has an average rating of “Moderate Buy” and a consensus price target of $74.18.

Carrier Global Price Performance

Shares of Carrier Global stock opened at $59.51 on Friday. Carrier Global Corporation has a 52-week low of $54.22 and a 52-week high of $81.09. The stock has a market capitalization of $50.12 billion, a price-to-earnings ratio of 13.31, a price-to-earnings-growth ratio of 2.36 and a beta of 1.25. The company has a fifty day moving average of $60.56 and a 200-day moving average of $66.98. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.80 and a current ratio of 1.14.

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

Carrier Global announced that its Board of Directors has initiated a share buyback plan on Tuesday, October 28th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the company to reacquire up to 10.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Carrier Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 18th. Stockholders of record on Wednesday, October 29th will be paid a $0.225 dividend. The ex-dividend date of this dividend is Wednesday, October 29th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.5%. Carrier Global’s dividend payout ratio is 20.13%.

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.