Carrier Global Corporation $CARR Stock: Telos Capital Management Inc. Trims Holdings

Key Points

• Telos Capital Management cut its Carrier Global stake by 36.8% in the third quarter, selling 69,032 shares and ending the period with 118,491 shares worth about $6.5 million. Other institutional investors made mixed changes to their positions.
• Carrier reported quarterly earnings of $0.87 per share, beating the $0.76 consensus estimate, while revenue rose 12.3% year over year to $6.26 billion.
• Analysts’ overall rating was “Moderate Buy,” with a consensus price target of $69.27. Carrier also declared a quarterly dividend of $0.24 per share, equivalent to a 1.8% annualized yield.

Telos Capital Management Inc. decreased its position in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 36.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 118,491 shares of the company's stock after selling 69,032 shares during the quarter. Telos Capital Management Inc.'s holdings in Carrier Global were worth $6,500,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. QTR Family Wealth LLC boosted its position in shares of Carrier Global by 16.6% in the 3rd quarter. QTR Family Wealth LLC now owns 4,992 shares of the company's stock worth $274,000 after buying an additional 710 shares in the last quarter. Capstone Wealth Management LLC acquired a new stake in Carrier Global in the 3rd quarter valued at about $339,000. Commonwealth Equity Services LLC increased its holdings in Carrier Global by 20.8% during the 3rd quarter. Commonwealth Equity Services LLC now owns 313,916 shares of the company's stock valued at $17,221,000 after acquiring an additional 53,960 shares in the last quarter. Pathway Financial Advisers LLC purchased a new position in Carrier Global during the 3rd quarter valued at about $41,000. Finally, Chicago Partners Investment Group LLC increased its holdings in Carrier Global by 213.3% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 37,350 shares of the company's stock valued at $2,101,000 after acquiring an additional 25,428 shares in the last quarter. Hedge funds and other institutional investors own 91.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on CARR shares. Wolfe Research reissued an "outperform" rating and set a $80.00 price objective on shares of Carrier Global in a research note on Thursday, July 9th. Wells Fargo & Company reduced their target price on Carrier Global from $67.00 to $65.00 and set an "overweight" rating on the stock in a research note on Friday, October 30th. Citigroup reduced their target price on Carrier Global from $80.00 to $71.00 and set a "buy" rating on the stock in a research note on Friday, October 30th. Mizuho dropped their price target on Carrier Global from $75.00 to $70.00 and set an "outperform" rating for the company in a research report on Thursday, October 15th. Finally, BNP Paribas Exane cut their price target on Carrier Global from $68.00 to $60.00 and set a "neutral" rating for the company in a report on Friday, October 30th. Eleven equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $69.27.

Carrier Global Stock Performance

NYSE CARR opened at $53.17 on Friday. The business's 50-day moving average price is $56.00 and its 200 day moving average price is $61.69. Carrier Global Corporation has a twelve month low of $50.24 and a twelve month high of $76.76. The company has a market capitalization of $43.51 billion, a PE ratio of -23.95, a price-to-earnings-growth ratio of 2.03 and a beta of 1.33. The company has a current ratio of 1.00, a quick ratio of 0.68 and a debt-to-equity ratio of 0.96.

Carrier Global (NYSE:CARR - Get Free Report) last released its quarterly earnings data on Thursday, October 29th. The company reported $0.87 EPS for the quarter, topping analysts' consensus estimates of $0.76 by $0.11. Carrier Global had a positive return on equity of 16.99% and a negative net margin of 7.90%. The company had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $6.09 billion. During the same period last year, the business posted $0.67 EPS. The company's quarterly revenue was up 12.3% compared to the same quarter last year. On average, research analysts predict that Carrier Global Corporation will post 2.86 earnings per share for the current year.

Carrier Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 18th. Investors of record on Thursday, October 29th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Thursday, October 29th. Carrier Global's dividend payout ratio is currently -43.24%.

Carrier Global Company 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, refrigeration equipment, building automation technologies and related controls and services for residential, commercial and industrial customers.

Its offerings include air conditioners, heat pumps, furnaces, boilers, chillers, ventilation systems, refrigeration systems and building management solutions.

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