Bristol Gate Capital Partners Inc. Has $71.41 Million Holdings in Carrier Global Corporation $CARR

Bristol Gate Capital Partners Inc. lessened its position in shares of Carrier Global Corporation (NYSE:CARR) by 18.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 975,656 shares of the company’s stock after selling 225,546 shares during the period. Carrier Global makes up approximately 4.1% of Bristol Gate Capital Partners Inc.’s investment portfolio, making the stock its 18th largest position. Bristol Gate Capital Partners Inc. owned about 0.11% of Carrier Global worth $71,408,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Schroder Investment Management Group grew its holdings in Carrier Global by 2.1% in the 2nd quarter. Schroder Investment Management Group now owns 6,646,908 shares of the company’s stock valued at $486,487,000 after buying an additional 134,785 shares in the last quarter. Norges Bank bought a new stake in shares of Carrier Global in the second quarter valued at about $524,939,000. Virtue Capital Management LLC grew its stake in shares of Carrier Global by 11.9% in the second quarter. Virtue Capital Management LLC now owns 5,606 shares of the company’s stock valued at $410,000 after acquiring an additional 597 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in Carrier Global by 16.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 21,440 shares of the company’s stock worth $1,569,000 after acquiring an additional 3,107 shares during the period. Finally, Grantham Mayo Van Otterloo & Co. LLC raised its stake in Carrier Global by 6.9% in the 2nd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 220,383 shares of the company’s stock worth $16,130,000 after purchasing an additional 14,279 shares in the last quarter. Institutional investors own 91.00% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on CARR shares. Barclays decreased their target price 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. Rothschild & Co Redburn increased their price target on Carrier Global from $66.00 to $67.00 in a research report on Thursday, October 30th. Mizuho lowered their price objective on Carrier Global from $80.00 to $75.00 and set an “outperform” rating on the stock in a research note on Friday, October 17th. The Goldman Sachs Group dropped their price objective on Carrier Global from $76.00 to $72.00 and set a “buy” rating for the company in a report on Wednesday, October 29th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Carrier Global in a report on Thursday, September 11th. Nine research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $72.94.

Carrier Global Stock Up 1.0%

NYSE CARR opened at $54.90 on Friday. The business has a fifty day moving average price of $57.02 and a two-hundred day moving average price of $65.53. The stock has a market capitalization of $46.24 billion, a PE ratio of 12.28, a PEG ratio of 2.38 and a beta of 1.30. Carrier Global Corporation has a fifty-two week low of $50.30 and a fifty-two week high of $81.09. 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 posted its quarterly earnings results on Tuesday, October 28th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. The company had revenue of $5.58 billion during 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 revenue was down 6.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.83 EPS. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. Equities analysts expect that Carrier Global Corporation will post 2.99 earnings per share for the current fiscal year.

Carrier Global declared that its board has approved a stock 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 stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Carrier Global Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 18th. Investors of record on Wednesday, October 29th were paid a $0.225 dividend. The ex-dividend date of this dividend was Wednesday, October 29th. This represents a $0.90 annualized dividend and a yield of 1.6%. Carrier Global’s dividend payout ratio is presently 20.13%.

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.