Laurel Wealth Advisors LLC Grows Stake in Carrier Global Corporation $CARR

Laurel Wealth Advisors LLC grew its holdings in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 7,290.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 721,654 shares of the company's stock after purchasing an additional 711,889 shares during the period. Laurel Wealth Advisors LLC owned approximately 0.08% of Carrier Global worth $52,818,000 at the end of the most recent quarter.

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Other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC raised its stake in Carrier Global by 30.3% in the fourth quarter. Brighton Jones LLC now owns 7,958 shares of the company's stock valued at $543,000 after buying an additional 1,850 shares during the last quarter. AE Wealth Management LLC grew its stake in shares of Carrier Global by 20.2% during the first quarter. AE Wealth Management LLC now owns 8,759 shares of the company's stock worth $555,000 after acquiring an additional 1,469 shares during the last quarter. Cetera Investment Advisers increased its holdings in shares of Carrier Global by 5.5% during the first quarter. Cetera Investment Advisers now owns 176,077 shares of the company's stock valued at $11,163,000 after acquiring an additional 9,223 shares in the last quarter. HB Wealth Management LLC raised its position in shares of Carrier Global by 13.9% in the 1st quarter. HB Wealth Management LLC now owns 36,438 shares of the company's stock valued at $2,310,000 after purchasing an additional 4,438 shares during the last quarter. Finally, LPL Financial LLC raised its position in shares of Carrier Global by 11.6% in the 1st quarter. LPL Financial LLC now owns 634,487 shares of the company's stock valued at $40,226,000 after purchasing an additional 66,005 shares during the last quarter. Institutional investors and hedge funds own 91.00% of the company's stock.

Carrier Global Price Performance

Shares of Carrier Global stock opened at $53.95 on Wednesday. The firm has a market cap of $45.44 billion, a PE ratio of 12.07, a P/E/G ratio of 2.25 and a beta of 1.30. Carrier Global Corporation has a twelve month low of $50.30 and a twelve month high of $81.09. The company has a quick ratio of 0.75, a current ratio of 1.14 and a debt-to-equity ratio of 0.76. The business has a 50-day moving average price of $57.39 and a 200 day moving average price of $65.88.

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

Carrier Global Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 18th. Investors of record on Wednesday, October 29th were paid a $0.225 dividend. The ex-dividend date of this dividend was Wednesday, October 29th. This represents a $0.90 dividend on an annualized basis and a yield of 1.7%. Carrier Global's dividend payout ratio (DPR) is currently 20.13%.

• Carrier Stock Looks Undervalued After Earnings Surprise

Carrier Global announced that its Board of Directors has approved a stock repurchase program on Tuesday, October 28th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the company to buy up to 10.1% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's board believes its shares are undervalued.

Wall Street Analyst Weigh In

CARR has been the topic of several research analyst reports. Wells Fargo & Company dropped their target price on shares of Carrier Global from $65.00 to $62.00 and set an "equal weight" rating on the stock in a research report on Wednesday, October 29th. Morgan Stanley lowered 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 research note on Tuesday, October 14th. Zacks Research raised shares of Carrier Global from a "strong sell" rating to a "hold" rating in a report on Friday, November 21st. Jefferies Financial Group restated a "buy" rating on shares of Carrier Global in a research note on Thursday, September 11th. Finally, Wolfe Research lowered their price target on Carrier Global from $76.00 to $75.00 and set an "outperform" rating for the company in a research report on Wednesday, October 29th. Nine analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $72.94.

Check Out Our Latest Report on CARR

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.

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