Tufton Capital Management Decreases Stock Holdings in Carrier Global Corporation $CARR

Tufton Capital Management decreased its holdings in shares of Carrier Global Corporation (NYSE:CARR) by 3.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 93,175 shares of the company’s stock after selling 2,946 shares during the quarter. Tufton Capital Management’s holdings in Carrier Global were worth $6,819,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. AdvisorShares Investments LLC bought a new position in Carrier Global during the second quarter valued at $25,000. REAP Financial Group LLC bought a new position in Carrier Global during the second quarter valued at $29,000. Accredited Wealth Management LLC bought a new position in Carrier Global during the first quarter valued at $28,000. Westside Investment Management Inc. increased its position in 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 during the last quarter. Finally, NewSquare Capital LLC increased its position in Carrier Global by 41.1% during the second quarter. NewSquare Capital LLC now owns 597 shares of the company’s stock valued at $44,000 after acquiring an additional 174 shares during the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Wells Fargo & Company cut their price target on shares of Carrier Global from $65.00 to $62.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 29th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Carrier Global from $70.00 to $64.00 and set a “hold” rating on the stock in a report on Wednesday, October 29th. Royal Bank Of Canada cut their price target on shares of Carrier Global from $87.00 to $75.00 and set an “outperform” rating on the stock in a report on Friday, September 12th. Zacks Research lowered shares of Carrier Global from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 14th. Finally, Wolfe Research lowered their price objective on shares of Carrier Global from $76.00 to $75.00 and set an “outperform” rating for the company in a research note on Wednesday, October 29th. Eleven research 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’s stock. According to data from MarketBeat.com, Carrier Global has a consensus rating of “Moderate Buy” and a consensus target price of $74.18.

Carrier Global Stock Performance

CARR stock opened at $57.84 on Tuesday. The firm has a market cap of $48.72 billion, a price-to-earnings ratio of 12.94, a PEG ratio of 2.36 and a beta of 1.30. The firm has a 50-day simple moving average of $60.39 and a two-hundred day simple moving average of $67.02. Carrier Global Corporation has a one year low of $54.22 and a one year high of $81.09. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.75 and a current ratio of 1.14.

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

Carrier Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 18th. Investors of record on Wednesday, October 29th will be given a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Wednesday, October 29th. Carrier Global’s dividend payout ratio (DPR) is presently 20.13%.

Carrier Global declared that its Board of Directors has approved a stock buyback plan on Tuesday, October 28th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 10.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

About Carrier Global

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.