Amundi Sells 453,440 Shares of Carrier Global Corporation $CARR

Amundi cut its stake in Carrier Global Corporation (NYSE:CARR) by 19.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,856,762 shares of the company’s stock after selling 453,440 shares during the period. Amundi’s holdings in Carrier Global were worth $139,740,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. AdvisorShares Investments LLC bought a new stake in Carrier Global in the second quarter valued at $25,000. Twin Peaks Wealth Advisors LLC bought a new position in shares of Carrier Global during the second quarter valued at $26,000. Winnow Wealth LLC acquired a new stake in shares of Carrier Global in the 2nd quarter valued at $26,000. Traub Capital Management LLC bought a new stake in shares of Carrier Global in the 2nd quarter worth about $27,000. Finally, REAP Financial Group LLC acquired a new stake in shares of Carrier Global during the 2nd quarter worth about $29,000. Institutional investors own 91.00% of the company’s stock.

Carrier Global Trading Down 0.5%

CARR stock opened at $54.25 on Monday. The company has a quick ratio of 0.75, a current ratio of 1.14 and a debt-to-equity ratio of 0.76. Carrier Global Corporation has a twelve month low of $50.30 and a twelve month high of $81.09. The company has a market cap of $45.69 billion, a P/E ratio of 12.14, a PEG ratio of 2.36 and a beta of 1.30. The business has a fifty day moving average of $56.51 and a 200-day moving average of $64.77.

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

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

Carrier Global Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 9th. Investors of record on Tuesday, January 20th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.8%. This is a positive change from Carrier Global’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Tuesday, January 20th. Carrier Global’s payout ratio is presently 20.13%.

Analyst Ratings Changes

CARR has been the topic of a number of recent analyst reports. Weiss Ratings restated a “hold (c+)” rating on shares of Carrier Global in a research report on Monday, December 1st. Royal Bank Of Canada cut their target price on shares of Carrier Global from $75.00 to $70.00 and set an “outperform” rating for the company in a research note on Friday. Deutsche Bank Aktiengesellschaft decreased their price target on Carrier Global from $70.00 to $64.00 and set a “hold” rating on the stock in a research report on Wednesday, October 29th. Morgan Stanley dropped their price target on Carrier Global from $75.00 to $60.00 and set an “equal weight” rating for the company in a report on Tuesday, October 14th. Finally, Rothschild & Co Redburn boosted their price objective on Carrier Global from $66.00 to $67.00 in a research note on Thursday, October 30th. Nine equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, Carrier Global currently has an average rating of “Hold” and an average target price of $72.44.

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.