JPMorgan Chase & Co. Has $2.82 Billion Position in Carrier Global Corporation $CARR

JPMorgan Chase & Co. lifted its position in shares of Carrier Global Corporation (NYSE:CARR) by 23.8% during the 2nd quarter, Holdings Channel reports. The firm owned 38,536,301 shares of the company’s stock after purchasing an additional 7,409,432 shares during the quarter. JPMorgan Chase & Co.’s holdings in Carrier Global were worth $2,820,485,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Nuveen LLC acquired a new position in Carrier Global during the first quarter worth approximately $649,512,000. Artisan Partners Limited Partnership boosted its stake in shares of Carrier Global by 63.6% during the 2nd quarter. Artisan Partners Limited Partnership now owns 4,952,738 shares of the company’s stock worth $362,491,000 after acquiring an additional 1,924,804 shares during the period. Alliancebernstein L.P. increased its holdings in shares of Carrier Global by 61.9% during the 1st quarter. Alliancebernstein L.P. now owns 4,318,806 shares of the company’s stock worth $273,812,000 after acquiring an additional 1,651,873 shares during the last quarter. Nicholas Company Inc. bought a new stake in Carrier Global in the 2nd quarter valued at $67,497,000. Finally, Gates Capital Management Inc. lifted its holdings in Carrier Global by 37.3% during the 1st quarter. Gates Capital Management Inc. now owns 2,937,756 shares of the company’s stock valued at $186,254,000 after purchasing an additional 797,693 shares during the last quarter. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Morgan Stanley decreased their price objective on shares of Carrier Global from $75.00 to $60.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 14th. Citigroup reduced their target price on shares of Carrier Global from $75.00 to $71.00 and set a “buy” rating for the company in a report on Wednesday, October 29th. Oppenheimer restated a “market perform” rating on shares of Carrier Global in a research report on Wednesday, October 29th. Barclays reduced their price objective on Carrier Global from $82.00 to $74.00 and set an “overweight” rating for the company in a report on Thursday, September 11th. Finally, The Goldman Sachs Group lowered their target price on Carrier Global from $76.00 to $72.00 and set a “buy” rating on the stock in a research note on Wednesday, October 29th. Nine research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $72.94.

Carrier Global Price Performance

Shares of CARR opened at $50.35 on Friday. The business has a 50-day simple moving average of $57.90 and a two-hundred day simple moving average of $66.32. Carrier Global Corporation has a 12-month low of $50.30 and a 12-month high of $81.09. The stock has a market cap of $42.40 billion, a PE ratio of 11.26, a PEG ratio of 2.22 and a beta of 1.30. The company has a quick ratio of 0.75, a current ratio of 1.14 and a debt-to-equity ratio of 0.76.

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

Carrier Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 18th. Stockholders of record on Wednesday, October 29th were issued a dividend of $0.225 per share. The ex-dividend date was Wednesday, October 29th. This represents a $0.90 annualized dividend and a dividend yield of 1.8%. Carrier Global’s dividend payout ratio is currently 20.13%.

Carrier Global announced that its Board of Directors has approved a share repurchase plan on Tuesday, October 28th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the company to repurchase up to 10.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Carrier Global 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.