Vanguard Group Inc. Has $6.83 Billion Position in Carrier Global Corporation $CARR

Vanguard Group Inc. lifted its holdings in Carrier Global Corporation (NYSE:CARR) by 0.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 93,373,143 shares of the company’s stock after purchasing an additional 450,594 shares during the quarter. Vanguard Group Inc. owned about 0.11% of Carrier Global worth $6,833,980,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. AdvisorShares Investments LLC acquired a new position in shares of Carrier Global in the second quarter valued at approximately $25,000. Accredited Wealth Management LLC bought a new stake in Carrier Global in the 1st quarter valued at $28,000. REAP Financial Group LLC bought a new stake in Carrier Global in the 2nd quarter valued at $29,000. Westside Investment Management Inc. boosted its stake in Carrier Global by 387.0% in the 2nd quarter. Westside Investment Management Inc. now owns 487 shares of the company’s stock worth $36,000 after purchasing an additional 387 shares during the period. Finally, Cheviot Value Management LLC bought a new position in Carrier Global during the 1st quarter worth about $38,000. 91.00% of the stock is owned by institutional investors.

Carrier Global Stock Down 2.0%

NYSE:CARR opened at $52.05 on Wednesday. Carrier Global Corporation has a twelve month low of $51.95 and a twelve month high of $81.09. The firm has a market capitalization of $43.84 billion, a price-to-earnings ratio of 11.64, a price-to-earnings-growth 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. The stock’s 50 day moving average price is $58.37 and its two-hundred day moving average price is $66.54.

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

Carrier Global announced that its Board of Directors has initiated 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 purchase up to 10.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Carrier Global Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 18th. Stockholders of record on Wednesday, October 29th were paid 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 1.7%. Carrier Global’s payout ratio is currently 20.13%.

Analysts Set New Price Targets

CARR has been the topic of a number of research reports. Robert W. Baird set a $72.00 price target on Carrier Global in a report on Wednesday, October 29th. Morgan Stanley cut their target price on Carrier Global from $75.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 14th. Rothschild & Co Redburn upped their price target on Carrier Global from $66.00 to $67.00 in a research report on Thursday, October 30th. Jefferies Financial Group reiterated a “buy” rating on shares of Carrier Global in a report on Thursday, September 11th. Finally, Barclays cut their price objective on shares of Carrier Global from $82.00 to $74.00 and set an “overweight” rating on the stock in a research report on Thursday, September 11th. 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. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $72.94.

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.