Securian Asset Management Inc. Reduces Holdings in Carrier Global Corporation $CARR

Securian Asset Management Inc. trimmed its position in shares of Carrier Global Corporation (NYSE:CARR) by 2.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 41,684 shares of the company’s stock after selling 1,092 shares during the quarter. Securian Asset Management Inc.’s holdings in Carrier Global were worth $3,051,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Costello Asset Management INC boosted its stake in Carrier Global by 4.2% during the second quarter. Costello Asset Management INC now owns 3,153 shares of the company’s stock worth $231,000 after buying an additional 127 shares during the period. Penobscot Investment Management Company Inc. boosted its stake in Carrier Global by 0.7% during the second quarter. Penobscot Investment Management Company Inc. now owns 20,833 shares of the company’s stock worth $1,525,000 after buying an additional 155 shares during the period. Lindbrook Capital LLC boosted its stake in Carrier Global by 1.3% during the first quarter. Lindbrook Capital LLC now owns 12,294 shares of the company’s stock worth $779,000 after buying an additional 156 shares during the period. Code Waechter LLC boosted its stake in shares of Carrier Global by 5.1% during the first quarter. Code Waechter LLC now owns 3,383 shares of the company’s stock valued at $214,000 after purchasing an additional 164 shares during the period. Finally, Abacus Wealth Partners LLC boosted its stake in shares of Carrier Global by 4.3% during the second quarter. Abacus Wealth Partners LLC now owns 3,982 shares of the company’s stock valued at $291,000 after purchasing an additional 165 shares during the period. 91.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CARR has been the subject of a number of recent analyst reports. Barclays lowered their target price on shares of Carrier Global from $82.00 to $74.00 and set an “overweight” rating for the company in a research note on Thursday, September 11th. Melius Research raised shares of Carrier Global to a “hold” rating and set a $90.00 target price for the company in a research note on Tuesday, July 1st. Robert W. Baird lowered their target price on shares of Carrier Global from $84.00 to $75.00 in a research note on Thursday, September 11th. Mizuho lowered their target price on shares of Carrier Global from $80.00 to $75.00 and set an “outperform” rating for the company in a research note on Friday. Finally, Citigroup lowered their target price on shares of Carrier Global from $89.00 to $75.00 and set a “buy” rating for the company in a research note on Friday, September 12th. Eleven equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $75.67.

Carrier Global Stock Up 3.8%

NYSE:CARR opened at $59.84 on Wednesday. Carrier Global Corporation has a 1-year low of $54.22 and a 1-year high of $81.30. The company has a 50-day moving average of $61.82 and a 200 day moving average of $66.94. The firm has a market cap of $50.92 billion, a PE ratio of 13.04, a price-to-earnings-growth ratio of 1.89 and a beta of 1.25. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.17 and a quick ratio of 0.80.

Carrier Global (NYSE:CARR) last released its quarterly earnings data on Tuesday, July 29th. The company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $6.08 billion. Carrier Global has set its FY 2025 guidance at 3.000-3.100 EPS. As a group, research analysts anticipate that Carrier Global Corporation will post 2.99 EPS for the current fiscal year.

Carrier Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 18th. Shareholders of record on Wednesday, October 29th will be issued a $0.225 dividend. The ex-dividend date is Wednesday, October 29th. This represents a $0.90 dividend on an annualized basis and a yield of 1.5%. Carrier Global’s payout ratio is currently 19.61%.

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.