Welch Group LLC Purchases 5,717 Shares of Carrier Global Corporation $CARR

Key Points

• Welch Group LLC increased its holdings in Carrier Global Corporation by 5.5%, acquiring an additional 5,717 shares, bringing their total to 109,266 shares valued at approximately $7.997 million.
• Carrier Global's stock has a market capitalization of $48.19 billion and has a consensus rating of "Moderate Buy" from analysts, with an average price target of $78.42.
• The company recently announced a quarterly dividend of $0.225 per share, which will be paid on November 18th, resulting in an annualized dividend yield of 1.6%.

Welch Group LLC increased its holdings in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 5.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 109,266 shares of the company's stock after buying an additional 5,717 shares during the quarter. Welch Group LLC's holdings in Carrier Global were worth $7,997,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC grew its stake in Carrier Global by 51.8% during the 1st 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 last quarter. Bessemer Group Inc. grew its stake in Carrier Global by 15.7% during the 1st 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 last quarter. Sowell Financial Services LLC purchased a new position in Carrier Global during the 1st quarter worth $234,000. Ransom Advisory Ltd purchased a new position in Carrier Global during the 1st quarter worth $400,000. Finally, Shell Asset Management Co. grew its stake in Carrier Global by 98.4% during the 2nd quarter. Shell Asset Management Co. now owns 24,160 shares of the company's stock worth $1,768,000 after buying an additional 11,980 shares during the last quarter. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on CARR shares. Melius started coverage on Carrier Global in a research note on Tuesday, July 1st. They set a "hold" rating and a $90.00 target price on the stock. Robert W. Baird lowered their price target on Carrier Global from $84.00 to $75.00 in a research report on Thursday, September 11th. Rothschild & Co Redburn lowered their price target on Carrier Global from $76.00 to $66.00 and set a "neutral" rating for the company in a research report on Wednesday, October 1st. Wolfe Research lowered their price target on Carrier Global from $77.00 to $76.00 and set an "outperform" rating for the company in a research report on Wednesday, October 8th. Finally, Jefferies Financial Group reaffirmed a "buy" rating on shares of Carrier Global in a research report on Thursday, September 11th. Twelve analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat, Carrier Global has a consensus rating of "Moderate Buy" and an average price target of $78.42.

Carrier Global Stock Performance

Shares of CARR stock opened at $56.63 on Monday. The stock has a market cap of $48.19 billion, a PE ratio of 12.34, a price-to-earnings-growth ratio of 1.78 and a beta of 1.25. The business has a 50-day simple moving average of $63.02 and a 200-day simple moving average of $67.21. The company has a quick ratio of 0.80, a current ratio of 1.17 and a debt-to-equity ratio of 0.76. Carrier Global Corporation has a 52-week low of $54.22 and a 52-week high of $83.32.

Carrier Global (NYSE:CARR - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $6.11 billion during 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. On average, equities analysts expect that Carrier Global Corporation will post 2.99 EPS for the current year.

Carrier Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 18th. Stockholders of record on Wednesday, October 29th will be issued a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Wednesday, October 29th. Carrier Global's payout ratio is 19.61%.

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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