IFP Advisors Inc Cuts Position in Carrier Global Corporation $CARR

Key Points

• IFP Advisors Inc reduced its holdings in Carrier Global Corporation by 12.9%, selling 13,656 shares and holding 92,557 shares worth approximately $6.77 million at the end of the second quarter.
• Analysts have lowered price targets for Carrier Global, with Wells Fargo dropping its target from $75 to $65, while Citigroup cut its target from $89 to $75; the average rating remains at "Moderate Buy" with a target of $78.42.
• Carrier Global announced a quarterly dividend of $0.225 per share, payable on November 18, with a current annualized dividend of $0.90, yielding 1.5%.

IFP Advisors Inc lessened its holdings in Carrier Global Corporation (NYSE:CARR - Free Report) by 12.9% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 92,557 shares of the company's stock after selling 13,656 shares during the period. IFP Advisors Inc's holdings in Carrier Global were worth $6,774,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CARR. Accredited Wealth Management LLC purchased a new position in shares of Carrier Global in the 1st quarter worth approximately $28,000. Investment Research & Advisory Group Inc. purchased a new position in shares of Carrier Global in the 1st quarter worth approximately $29,000. REAP Financial Group LLC purchased a new position in shares of Carrier Global in the 2nd quarter worth approximately $29,000. Graybill Wealth Management LTD. purchased a new position in shares of Carrier Global in the 1st quarter worth approximately $38,000. Finally, Cheviot Value Management LLC purchased a new position in shares of Carrier Global in the 1st quarter worth approximately $38,000. Hedge funds and other institutional investors own 91.00% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Wells Fargo & Company dropped their price objective on Carrier Global from $75.00 to $65.00 and set an "equal weight" rating on the stock in a research note on Monday. Oppenheimer dropped their price objective on Carrier Global from $85.00 to $75.00 and set an "outperform" rating on the stock in a research note on Wednesday, September 17th. Robert W. Baird dropped their price objective on Carrier Global from $84.00 to $75.00 in a research note on Thursday, September 11th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Carrier Global in a research note on Wednesday. Finally, Citigroup dropped their price objective on Carrier Global from $89.00 to $75.00 and set a "buy" rating on the stock in a research note on Friday, September 12th. Twelve research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, Carrier Global currently has an average rating of "Moderate Buy" and an average price target of $78.42.

Carrier Global Trading Down 2.9%

NYSE:CARR opened at $58.08 on Friday. The company has a market cap of $49.43 billion, a P/E ratio of 12.65, a P/E/G ratio of 1.86 and a beta of 1.25. The stock's fifty day moving average price is $63.23 and its two-hundred day moving average price is $67.27. Carrier Global Corporation has a 1 year low of $54.22 and a 1 year high of $83.32. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.17 and a quick ratio of 0.80.

Carrier Global (NYSE:CARR - Get Free Report) last posted its earnings results on Tuesday, July 29th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.02. The firm 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. As a group, analysts expect that Carrier Global Corporation will post 2.99 EPS 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 dividend of $0.225 per share. The ex-dividend date is Wednesday, October 29th. This represents a $0.90 annualized dividend and a dividend yield of 1.5%. Carrier Global's dividend payout ratio is currently 19.61%.

Carrier Global Company 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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