Bahl & Gaynor Inc. Acquires 317,920 Shares of Carrier Global Corporation $CARR

Bahl & Gaynor Inc. lifted its holdings in shares of Carrier Global Corporation (NYSE:CARR) by 312.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 419,733 shares of the company’s stock after purchasing an additional 317,920 shares during the quarter. Bahl & Gaynor Inc.’s holdings in Carrier Global were worth $30,720,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Triasima Portfolio Management inc. acquired a new stake in Carrier Global during the second quarter worth about $1,421,000. Atlantic Union Bankshares Corp lifted its holdings in shares of Carrier Global by 73.2% during the 2nd quarter. Atlantic Union Bankshares Corp now owns 6,240 shares of the company’s stock worth $457,000 after acquiring an additional 2,638 shares during the period. Ransom Advisory Ltd acquired a new stake in shares of Carrier Global during the 1st quarter worth approximately $400,000. Shell Asset Management Co. increased its stake in Carrier Global by 98.4% in the second quarter. Shell Asset Management Co. now owns 24,160 shares of the company’s stock valued at $1,768,000 after acquiring an additional 11,980 shares during the last quarter. Finally, Nordea Investment Management AB raised its position in Carrier Global by 1.5% during the second quarter. Nordea Investment Management AB now owns 73,150 shares of the company’s stock valued at $5,369,000 after purchasing an additional 1,074 shares in the last quarter. 91.00% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Rothschild & Co Redburn raised their target price on Carrier Global from $66.00 to $67.00 in a report on Thursday, October 30th. JPMorgan Chase & Co. dropped their price objective on Carrier Global from $61.00 to $60.00 and set a “neutral” rating for the company in a research report on Friday, October 31st. Robert W. Baird set a $72.00 target price on Carrier Global in a research report on Wednesday, October 29th. Jefferies Financial Group reissued a “buy” rating on shares of Carrier Global in a research note on Thursday, September 11th. Finally, The Goldman Sachs Group dropped their target price on shares of Carrier Global from $76.00 to $72.00 and set a “buy” rating for the company in a report on Wednesday, October 29th. Nine equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $72.94.

Carrier Global Stock Performance

Shares of CARR stock opened at $52.36 on Friday. The business’s 50 day simple moving average is $57.71 and its 200 day simple moving average is $66.16. Carrier Global Corporation has a one year low of $50.30 and a one year high of $81.09. The stock has a market capitalization of $44.10 billion, a PE ratio of 11.71, a PEG ratio of 2.27 and a beta of 1.30. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.14 and a quick ratio of 0.75.

Carrier Global (NYSE:CARR) last released 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 net margin of 18.05% and a return on equity of 16.65%. The firm had revenue of $5.58 billion during the quarter, compared to analyst estimates of $5.65 billion. During the same quarter last year, the business earned $0.83 EPS. The company’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 forecast that Carrier Global Corporation will post 2.99 earnings per share for the current year.

Carrier Global Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 18th. Shareholders of record on Wednesday, October 29th were given a dividend of $0.225 per share. The ex-dividend date of this dividend was Wednesday, October 29th. This represents a $0.90 dividend on an annualized basis and a yield of 1.7%. Carrier Global’s dividend payout ratio is 20.13%.

Carrier Global declared that its board has authorized a stock buyback program on Tuesday, October 28th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the company to purchase up to 10.1% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

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.