Retirement Planning Co of New England Inc. Buys Shares of 6,209 Carrier Global Corporation $CARR

Key Points

• Retirement Planning Co of New England Inc. acquired a new stake in Carrier Global Corporation, purchasing 6,209 shares valued at approximately $394,000.
• Carrier Global's stock dropped 1.4%, with a current price of $65.23 and a market cap of $55.51 billion.
• The company announced a quarterly dividend of $0.225 per share, resulting in a 1.4% dividend yield for investors.

Retirement Planning Co of New England Inc. bought a new stake in Carrier Global Corporation (NYSE:CARR - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 6,209 shares of the company's stock, valued at approximately $394,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Golden State Wealth Management LLC boosted its position in shares of Carrier Global by 51.8% during the first quarter. Golden State Wealth Management LLC now owns 1,389 shares of the company's stock worth $88,000 after buying an additional 474 shares during the period. Bessemer Group Inc. boosted its position in shares of Carrier Global by 15.7% during the first quarter. Bessemer Group Inc. now owns 28,768 shares of the company's stock worth $1,823,000 after buying an additional 3,900 shares during the period. Ensign Peak Advisors Inc boosted its position in shares of Carrier Global by 27.8% during the fourth quarter. Ensign Peak Advisors Inc now owns 1,314,180 shares of the company's stock worth $89,706,000 after buying an additional 285,803 shares during the period. Sowell Financial Services LLC acquired a new position in shares of Carrier Global during the first quarter worth approximately $234,000. Finally, Aberdeen Group plc boosted its position in shares of Carrier Global by 1.8% during the first quarter. Aberdeen Group plc now owns 717,658 shares of the company's stock worth $44,854,000 after buying an additional 12,346 shares during the period. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Carrier Global Price Performance

Shares of NYSE CARR traded up $1.95 during trading on Friday, hitting $65.49. The company had a trading volume of 5,021,790 shares, compared to its average volume of 4,993,926. The company has a market cap of $55.73 billion, a P/E ratio of 14.27, a PEG ratio of 1.75 and a beta of 1.25. Carrier Global Corporation has a 52 week low of $54.22 and a 52 week high of $83.32. The business's 50-day moving average is $70.53 and its 200 day moving average is $68.19. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.80 and a current ratio of 1.17.

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 (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.02. The company had revenue of $6.11 billion for the quarter, compared to analysts' expectations 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. Equities research analysts predict that Carrier Global Corporation will post 2.99 earnings per share for the current fiscal year.

Carrier Global Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Monday, July 21st were paid a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Monday, July 21st. Carrier Global's payout ratio is 19.61%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Melius Research upgraded Carrier Global to a "hold" rating and set a $90.00 price objective for the company in a research report on Tuesday, July 1st. Northcoast Research upgraded Carrier Global from a "neutral" rating to a "buy" rating and set a $85.00 price objective for the company in a research report on Friday, May 9th. Citigroup restated a "buy" rating and issued a $89.00 target price (up from $82.00) on shares of Carrier Global in a research report on Monday, July 14th. Royal Bank Of Canada cut 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. Finally, Barclays cut 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. Ten analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus 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.