Carrier Global (NYSE:CARR) Hits New 52-Week Low After Analyst Downgrade

Carrier Global Corporation (NYSE:CARR) hit a new 52-week low during trading on Tuesday after UBS Group lowered their price target on the stock from $73.00 to $70.00. UBS Group currently has a buy rating on the stock. Carrier Global traded as low as $50.24 and last traded at $51.9520, with a volume of 1416917 shares changing hands. The stock had previously closed at $53.79.

Several other equities analysts have also issued reports on the company. Jefferies Financial Group reissued a “buy” rating on shares of Carrier Global in a research note on Thursday, September 11th. Oppenheimer reissued a “market perform” rating on shares of Carrier Global in a research report on Wednesday, October 29th. Robert W. Baird set a $72.00 price objective on shares of Carrier Global in a research note on Wednesday, October 29th. Morgan Stanley dropped their price objective on shares of 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, Royal Bank Of Canada reduced their target price on shares of Carrier Global from $75.00 to $70.00 and set an “outperform” rating on the stock in a report on Friday, December 5th. Ten analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, Carrier Global has an average rating of “Moderate Buy” and a consensus target price of $71.41.

Institutional Trading of Carrier Global

A number of large investors have recently bought and sold shares of CARR. Procyon Advisors LLC increased its holdings in shares of Carrier Global by 3.9% in the fourth quarter. Procyon Advisors LLC now owns 5,267 shares of the company’s stock valued at $278,000 after purchasing an additional 199 shares during the period. Harbor Investment Advisory LLC lifted its position in shares of Carrier Global by 50.1% during the 4th quarter. Harbor Investment Advisory LLC now owns 3,597 shares of the company’s stock valued at $190,000 after acquiring an additional 1,200 shares during the period. Central Pacific Bank Trust Division boosted its position in Carrier Global by 26.9% during the fourth quarter. Central Pacific Bank Trust Division now owns 7,070 shares of the company’s stock worth $374,000 after purchasing an additional 1,500 shares in the last quarter. Board of the Pension Protection Fund acquired a new stake in Carrier Global in the 4th quarter valued at about $32,000. Finally, Union Bancaire Privee UBP SA purchased a new position in shares of Carrier Global during the 4th quarter worth approximately $27,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Stock Down 1.8%

The company has a market cap of $44.26 billion, a PE ratio of 11.76, a P/E/G ratio of 2.12 and a beta of 1.31. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.14 and a quick ratio of 0.75. The firm has a 50-day simple moving average of $54.16 and a two-hundred day simple moving average of $61.93.

Carrier Global (NYSE:CARR) last released its 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 firm had revenue of $5.58 billion during the quarter, compared to analyst estimates of $5.65 billion. Carrier Global had a return on equity of 16.65% and a net margin of 18.05%.The business’s quarterly revenue was down 6.8% compared to the same quarter last year. 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. Research analysts anticipate that Carrier Global Corporation will post 2.99 earnings per share for the current fiscal year.

Carrier Global Increases Dividend

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

Carrier Global declared that its board has authorized a share repurchase plan on Tuesday, October 28th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the company to purchase up to 10.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

Carrier Global Company Profile

Carrier Global Corporation is a leading global provider of heating, ventilation and air conditioning (HVAC), refrigeration, fire and security, and building automation solutions. The company designs, manufactures and sells a broad portfolio of products that includes air conditioners, furnaces, heat pumps, chillers, rooftop units, commercial refrigeration systems, fire and smoke detection and suppression systems, security sensors and access controls, and a range of building controls and analytics software.