Cinctive Capital Management LP Takes Position in Carrier Global Corporation $CARR

Key Points

• Cinctive Capital Management LP has acquired a new stake in Carrier Global Corporation, purchasing 19,000 shares valued at approximately $1.205 million.
• Carrier Global's recent quarterly earnings report indicated $0.92 earnings per share, exceeding estimates, with revenues of $6.11 billion.
• The company declared a quarterly dividend of $0.225 per share, representing a 1.4% dividend yield and a payout ratio of 19.61%.

Cinctive Capital Management LP purchased a new stake in shares of Carrier Global Corporation (NYSE:CARR - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 19,000 shares of the company's stock, valued at approximately $1,205,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Park Square Financial Group LLC bought a new position in Carrier Global during the 4th quarter valued at approximately $28,000. Accredited Wealth Management LLC bought a new position in Carrier Global during the 1st quarter valued at approximately $28,000. Mattson Financial Services LLC bought a new position in Carrier Global during the 4th quarter valued at approximately $31,000. Investment Research & Advisory Group Inc. bought a new position in Carrier Global during the 1st quarter valued at approximately $29,000. Finally, Mascagni Wealth Management Inc. bought a new position in Carrier Global during the 4th quarter valued at approximately $35,000. Institutional investors own 91.00% of the company's stock.

Carrier Global Stock Performance

Carrier Global stock opened at $63.47 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.17 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $54.01 billion, a P/E ratio of 13.83, a PEG ratio of 1.72 and a beta of 1.25. The stock's 50 day moving average is $70.69 and its 200 day moving average is $68.19. Carrier Global Corporation has a twelve month low of $54.22 and a twelve month high of $83.32.

Carrier Global (NYSE:CARR - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.02. The company had revenue of $6.11 billion for the quarter, compared to the consensus estimate of $6.08 billion. Carrier Global had a return on equity of 17.83% and a net margin of 18.33%. Carrier Global has set its FY 2025 guidance at 3.000-3.100 EPS. On average, equities research 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 Friday, August 8th. Investors of record on Monday, July 21st were paid a $0.225 dividend. The ex-dividend date was Monday, July 21st. This represents a $0.90 annualized dividend and a dividend yield of 1.4%. Carrier Global's dividend payout ratio is presently 19.61%.

Analyst Ratings Changes

CARR has been the subject of a number of recent analyst reports. Northcoast Research raised Carrier Global from a "neutral" rating to a "buy" rating and set a $85.00 price target for the company in a research report on Friday, May 9th. Citigroup reaffirmed a "buy" rating and set a $89.00 price target (up previously from $82.00) on shares of Carrier Global in a research report on Monday, July 14th. Barclays decreased their target price on Carrier Global from $84.00 to $82.00 and set an "overweight" rating for the company in a research report on Wednesday, July 30th. Morgan Stanley decreased their target price on Carrier Global from $78.00 to $75.00 and set an "equal weight" rating for the company in a research report on Friday, August 8th. Finally, Royal Bank Of Canada decreased their target price on Carrier Global from $89.00 to $87.00 and set an "outperform" rating for the company in a research report on Wednesday, July 30th. Ten research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $84.47.

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.

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