Carrier Global Corporation $CARR Stock Sold by Avity Investment Management Inc.

Key Points

• Avity Investment Management cut its Carrier Global stake by 32.8% in the third quarter, selling 63,810 shares and retaining 130,674 shares valued at approximately $7.17 million. Institutional investors collectively own about 91% of the company.
• Carrier reported quarterly adjusted earnings of $0.86 per share on $6.35 billion in revenue, beating analyst expectations, while revenue increased 3.9% year over year.
• Shares recently traded at $55.55, below the analyst consensus price target of $71.93. Analysts maintain a “Moderate Buy” consensus, and Carrier declared a quarterly dividend of $0.24 per share, representing a 1.7% yield.

Avity Investment Management Inc. reduced its holdings in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 32.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 130,674 shares of the company's stock after selling 63,810 shares during the quarter. Avity Investment Management Inc.'s holdings in Carrier Global were worth $7,169,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Riversedge Advisors LLC acquired a new stake in shares of Carrier Global during the 3rd quarter worth about $283,000. Wedmont Private Capital boosted its holdings in Carrier Global by 22.5% in the third quarter. Wedmont Private Capital now owns 21,860 shares of the company's stock valued at $1,199,000 after purchasing an additional 4,020 shares in the last quarter. Mn Services Vermogensbeheer B.V. increased its stake in Carrier Global by 36.4% in the third quarter. Mn Services Vermogensbeheer B.V. now owns 300,288 shares of the company's stock valued at $16,474,000 after purchasing an additional 80,088 shares during the last quarter. Diversified Management Inc. purchased a new position in Carrier Global in the third quarter valued at approximately $2,356,000. Finally, Professional Advisory Services Inc. raised its holdings in Carrier Global by 22.7% during the third quarter. Professional Advisory Services Inc. now owns 370,360 shares of the company's stock worth $20,318,000 after purchasing an additional 68,547 shares in the last quarter. Hedge funds and other institutional investors own 91.00% of the company's stock.

Carrier Global Stock Performance

CARR stock traded down $0.28 on Friday, hitting $55.55. The company's stock had a trading volume of 4,320,929 shares, compared to its average volume of 6,789,567. The stock has a market cap of $45.79 billion, a price-to-earnings ratio of 38.58, a price-to-earnings-growth ratio of 1.88 and a beta of 1.29. The firm has a 50 day moving average of $58.55 and a two-hundred day moving average of $62.87. The company has a current ratio of 1.02, a quick ratio of 0.72 and a debt-to-equity ratio of 0.77. Carrier Global Corporation has a 1 year low of $50.24 and a 1 year high of $76.76.

Carrier Global (NYSE:CARR - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.04. Carrier Global had a net margin of 5.52% and a return on equity of 14.68%. The company had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.02 billion. During the same period last year, the firm posted $0.92 EPS. Carrier Global's revenue for the quarter was up 3.9% on a year-over-year basis. Carrier Global has set its FY 2026 guidance at 2.900-2.900 EPS. Equities analysts predict that Carrier Global Corporation will post 2.87 EPS for the current fiscal year.

Carrier Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 18th. Investors of record on Thursday, October 29th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, October 29th. This represents a $0.96 annualized dividend and a dividend yield of 1.7%. Carrier Global's dividend payout ratio (DPR) is currently 66.67%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CARR shares. The Goldman Sachs Group reduced their price objective on shares of Carrier Global from $85.00 to $74.00 and set a "buy" rating for the company in a research report on Wednesday, September 30th. Sanford C. Bernstein cut their price target on shares of Carrier Global from $78.00 to $64.00 and set a "market perform" rating on the stock in a research note on Wednesday. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Carrier Global from $71.00 to $64.00 and set a "hold" rating for the company in a research note on Wednesday, September 30th. Zacks Research cut Carrier Global from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 1st. Finally, Wells Fargo & Company assumed coverage on Carrier Global in a report on Thursday, September 24th. They issued an "overweight" rating and a $67.00 target price for the company. Twelve 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 has an average rating of "Moderate Buy" and an average price target of $71.93.

Carrier Global Profile

Carrier Global Corporation NYSE: CARR is a global provider of intelligent climate and energy solutions. The company develops and manufactures heating, ventilation and air-conditioning (HVAC) systems, heat pumps, building controls, and related equipment for residential, commercial and industrial customers. Its offerings are designed to support temperature control, indoor air quality, energy efficiency and building performance.

Carrier also provides refrigeration products and services for food retail, transportation and other applications.

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