Boston Common Asset Management LLC Sells 246,655 Shares of Carrier Global Corporation $CARR

Boston Common Asset Management LLC lessened its holdings in Carrier Global Corporation (NYSE:CARR) by 96.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,472 shares of the company’s stock after selling 246,655 shares during the quarter. Boston Common Asset Management LLC’s holdings in Carrier Global were worth $565,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. AdvisorShares Investments LLC acquired a new stake in Carrier Global in the 2nd quarter worth about $25,000. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Carrier Global during the 2nd quarter worth approximately $26,000. Winnow Wealth LLC bought a new position in shares of Carrier Global during the second quarter worth approximately $26,000. Traub Capital Management LLC acquired a new stake in shares of Carrier Global in the second quarter valued at approximately $27,000. Finally, REAP Financial Group LLC acquired a new stake in shares of Carrier Global in the second quarter valued at approximately $29,000. 91.00% of the stock is owned by institutional investors.

Carrier Global Trading Up 4.7%

Shares of CARR stock opened at $57.82 on Thursday. Carrier Global Corporation has a 1-year low of $50.24 and a 1-year high of $81.09. The company has a current ratio of 1.14, a quick ratio of 0.75 and a debt-to-equity ratio of 0.76. The stock has a market cap of $48.70 billion, a price-to-earnings ratio of 12.94, a PEG ratio of 2.20 and a beta of 1.31. The stock has a 50-day moving average of $53.80 and a 200-day moving average of $60.67.

Carrier Global (NYSE:CARR) last posted its quarterly earnings data on Tuesday, October 28th. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. The company had revenue of $5.58 billion for 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 EPS. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. On average, equities research analysts forecast that Carrier Global Corporation will post 2.99 earnings per share for the current year.

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

Carrier Global Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 9th. Investors of record on Tuesday, January 20th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Tuesday, January 20th. This is a positive change from Carrier Global’s previous quarterly dividend of $0.23. Carrier Global’s dividend payout ratio is currently 21.48%.

Analysts Set New Price Targets

CARR has been the topic of a number of analyst reports. Wolfe Research reduced their price target on Carrier Global from $74.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, January 15th. Deutsche Bank Aktiengesellschaft cut their target price on Carrier Global from $70.00 to $64.00 and set a “hold” rating for the company in a research report on Wednesday, October 29th. The Goldman Sachs Group decreased their price target on Carrier Global from $72.00 to $68.00 and set a “buy” rating on the stock in a research report on Tuesday, December 16th. JPMorgan Chase & Co. upped their price objective on shares of Carrier Global from $60.00 to $63.00 and gave the stock a “neutral” rating in a research report on Friday, January 16th. Finally, Morgan Stanley set a $55.00 price objective on shares of Carrier Global in a research note on Thursday, January 8th. Ten equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $69.44.

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.