Asset Management One Co. Ltd. Cuts Stock Position in Carrier Global Corporation $CARR

Key Points

• Asset Management One Co. Ltd. reduced its stake in Carrier Global Corporation by 3.4% during the second quarter, now owning approximately 487,143 shares worth about $35.65 million.
• Carrier Global recently reported earnings of $0.92 per share, exceeding expectations of $0.90, with total revenue for the quarter at $6.11 billion.
• The company announced a quarterly dividend of $0.225 per share, resulting in an annualized yield of 1.6%, contributing to a dividend payout ratio of 19.61%.

Asset Management One Co. Ltd. lessened its stake in Carrier Global Corporation (NYSE:CARR - Free Report) by 3.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 487,143 shares of the company's stock after selling 17,219 shares during the quarter. Asset Management One Co. Ltd. owned approximately 0.06% of Carrier Global worth $35,654,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. AlTi Global Inc. increased its holdings in Carrier Global by 25.6% in the 2nd quarter. AlTi Global Inc. now owns 5,255 shares of the company's stock worth $385,000 after acquiring an additional 1,072 shares in the last quarter. Cardinal Point Capital Management ULC purchased a new stake in Carrier Global in the 2nd quarter worth $480,000. Carnegie Investment Counsel increased its holdings in Carrier Global by 18.3% in the 2nd quarter. Carnegie Investment Counsel now owns 5,807 shares of the company's stock worth $425,000 after acquiring an additional 900 shares in the last quarter. FSM Wealth Advisors LLC increased its holdings in Carrier Global by 40.6% in the 2nd quarter. FSM Wealth Advisors LLC now owns 10,285 shares of the company's stock worth $768,000 after acquiring an additional 2,972 shares in the last quarter. Finally, Bleakley Financial Group LLC increased its holdings in Carrier Global by 4.7% in the 2nd quarter. Bleakley Financial Group LLC now owns 56,320 shares of the company's stock worth $4,122,000 after acquiring an additional 2,526 shares in the last quarter. Hedge funds and other institutional investors own 91.00% of the company's stock.

Carrier Global Trading Up 1.4%

Shares of CARR stock opened at $57.92 on Friday. The company's 50-day moving average price is $61.29 and its 200-day moving average price is $66.89. The company has a current ratio of 1.17, a quick ratio of 0.80 and a debt-to-equity ratio of 0.76. The stock has a market cap of $49.29 billion, a price-to-earnings ratio of 12.62, a PEG ratio of 1.88 and a beta of 1.25. Carrier Global Corporation has a twelve month low of $54.22 and a twelve month high of $81.09.

Carrier Global (NYSE:CARR - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.02. The firm had revenue of $6.11 billion for the quarter, compared to analysts' expectations of $6.08 billion. Carrier Global had a net margin of 18.33% and a return on equity of 17.83%. Carrier Global has set its FY 2025 guidance at 3.000-3.100 EPS. As a group, equities analysts predict that Carrier Global Corporation will post 2.99 earnings per share for the current year.

Carrier Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 18th. Shareholders of record on Wednesday, October 29th will be given a $0.225 dividend. The ex-dividend date of this dividend is Wednesday, October 29th. This represents a $0.90 dividend on an annualized basis and a yield of 1.6%. Carrier Global's dividend payout ratio is presently 19.61%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CARR. Rothschild & Co Redburn dropped their target price on shares of Carrier Global from $76.00 to $66.00 and set a "neutral" rating for the company in a report on Wednesday, October 1st. Mizuho dropped their target price on shares of Carrier Global from $80.00 to $75.00 and set an "outperform" rating for the company in a report on Friday, October 17th. JPMorgan Chase & Co. dropped their target price on shares of Carrier Global from $76.00 to $61.00 and set a "neutral" rating for the company in a report on Wednesday, October 15th. Oppenheimer lowered shares of Carrier Global from an "outperform" rating to a "market perform" rating in a report on Tuesday, October 14th. Finally, Wolfe Research dropped their target price on shares of Carrier Global from $77.00 to $76.00 and set an "outperform" rating for the company in a report on Wednesday, October 8th. Eleven equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $75.67.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.