Forsta AP Fonden Has $11.71 Million Holdings in Carrier Global Corporation $CARR

Forsta AP Fonden decreased its holdings in Carrier Global Corporation (NYSE:CARR) by 3.6% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 160,000 shares of the company’s stock after selling 5,900 shares during the period. Forsta AP Fonden’s holdings in Carrier Global were worth $11,710,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of CARR. Brighton Jones LLC lifted its stake in shares of Carrier Global by 30.3% in the fourth quarter. Brighton Jones LLC now owns 7,958 shares of the company’s stock worth $543,000 after acquiring an additional 1,850 shares during the period. Schechter Investment Advisors LLC bought a new position in Carrier Global during the 1st quarter worth approximately $201,000. CWM LLC lifted its position in shares of Carrier Global by 0.6% in the 1st quarter. CWM LLC now owns 60,122 shares of the company’s stock worth $3,812,000 after purchasing an additional 346 shares during the period. Sigma Planning Corp lifted its position in shares of Carrier Global by 8.3% in the 1st quarter. Sigma Planning Corp now owns 13,999 shares of the company’s stock worth $888,000 after purchasing an additional 1,076 shares during the period. Finally, Apollon Wealth Management LLC boosted its stake in shares of Carrier Global by 10.7% in the 1st quarter. Apollon Wealth Management LLC now owns 28,757 shares of the company’s stock valued at $1,823,000 after purchasing an additional 2,774 shares during the last quarter. 91.00% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CARR. Jefferies Financial Group reiterated a “buy” rating on shares of Carrier Global in a report on Thursday, September 11th. Mizuho cut their target price on Carrier Global from $80.00 to $75.00 and set an “outperform” rating on the stock in a research report on Friday, October 17th. Deutsche Bank Aktiengesellschaft decreased their target price on Carrier Global from $70.00 to $64.00 and set a “hold” rating for the company in a research note on Wednesday, October 29th. JPMorgan Chase & Co. dropped their price target on Carrier Global from $61.00 to $60.00 and set a “neutral” rating on the stock in a research note on Friday, October 31st. Finally, Zacks Research downgraded shares of Carrier Global from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 14th. Ten investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Carrier Global presently has an average rating of “Hold” and an average target price of $72.94.

Carrier Global Trading Down 1.5%

NYSE CARR opened at $55.14 on Friday. 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 Corporation has a 52 week low of $54.22 and a 52 week high of $81.09. The business has a 50 day moving average price of $59.07 and a 200-day moving average price of $66.77. The company has a market cap of $46.44 billion, a price-to-earnings ratio of 12.34, a P/E/G ratio of 2.34 and a beta of 1.30.

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

Carrier Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 18th. Investors of record on Wednesday, October 29th will be issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Wednesday, October 29th. Carrier Global’s dividend payout ratio is currently 20.13%.

Carrier Global declared that its board has initiated a share repurchase plan on Tuesday, October 28th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the company to buy up to 10.1% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its shares are undervalued.

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.