Zions Bancorporation National Association UT Has $859,000 Stake in Carrier Global Corporation $CARR

Zions Bancorporation National Association UT raised its stake in shares of Carrier Global Corporation (NYSE:CARR) by 553.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,733 shares of the company’s stock after purchasing an additional 9,938 shares during the period. Zions Bancorporation National Association UT’s holdings in Carrier Global were worth $859,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. increased its stake in shares of Carrier Global by 17.6% in the first quarter. JPMorgan Chase & Co. now owns 31,126,869 shares of the company’s stock valued at $1,973,444,000 after buying an additional 4,668,929 shares during the period. Nuveen LLC bought a new stake in Carrier Global in the first quarter valued at approximately $649,512,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Carrier Global by 0.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 6,968,294 shares of the company’s stock valued at $441,790,000 after acquiring an additional 38,233 shares during the last quarter. PineStone Asset Management Inc. increased its position in Carrier Global by 12.8% during the 2nd quarter. PineStone Asset Management Inc. now owns 5,300,483 shares of the company’s stock valued at $387,942,000 after purchasing an additional 601,967 shares during the period. Finally, Invesco Ltd. raised its holdings in Carrier Global by 2.1% during the 1st quarter. Invesco Ltd. now owns 5,165,203 shares of the company’s stock worth $327,474,000 after purchasing an additional 108,055 shares during the last quarter. 91.00% of the stock is owned by institutional investors and hedge funds.

Carrier Global Price Performance

Shares of NYSE CARR opened at $57.42 on Monday. Carrier Global Corporation has a fifty-two week low of $54.22 and a fifty-two week high of $81.09. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.75 and a current ratio of 1.14. The firm’s 50-day simple moving average is $59.66 and its 200 day simple moving average is $66.97. The stock has a market cap of $48.36 billion, a price-to-earnings ratio of 12.85, a PEG ratio of 2.41 and a beta of 1.30.

Carrier Global (NYSE:CARR) last announced its quarterly earnings results on Tuesday, October 28th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.10. Carrier Global had a return on equity of 16.65% and a net margin of 18.05%.The business had revenue of $5.58 billion during the quarter, compared to the consensus estimate of $5.65 billion. During the same quarter in the prior year, the company posted $0.83 earnings per share. Carrier Global’s revenue was down 6.8% compared to the same quarter last year. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. As a group, research analysts anticipate that Carrier Global Corporation will post 2.99 earnings per share for the current fiscal year.

Carrier Global announced that its board has approved a stock buyback plan on Tuesday, October 28th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the company to reacquire up to 10.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Carrier Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 18th. Investors of record on Wednesday, October 29th will be given a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Wednesday, October 29th. Carrier Global’s dividend payout ratio (DPR) is presently 20.13%.

Analyst Ratings Changes

CARR has been the subject of several recent analyst reports. Wells Fargo & Company decreased their price objective on shares of Carrier Global from $65.00 to $62.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 29th. Zacks Research downgraded Carrier Global from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 14th. Royal Bank Of Canada lowered their price objective on Carrier Global from $87.00 to $75.00 and set an “outperform” rating for the company in a research report on Friday, September 12th. Wolfe Research dropped their price objective on Carrier Global from $76.00 to $75.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 29th. Finally, Citigroup decreased their target price on Carrier Global from $75.00 to $71.00 and set a “buy” rating for the company in a research note on Wednesday, October 29th. Eleven equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $74.18.

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.