Avanza Fonder AB Purchases 10,920 Shares of Carrier Global Corporation $CARR

Avanza Fonder AB raised its position in Carrier Global Corporation (NYSE:CARR) by 19.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,100 shares of the company’s stock after buying an additional 10,920 shares during the quarter. Avanza Fonder AB’s holdings in Carrier Global were worth $3,946,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its position in shares of Carrier Global by 23.8% in the second quarter. JPMorgan Chase & Co. now owns 38,536,301 shares of the company’s stock valued at $2,820,485,000 after acquiring an additional 7,409,432 shares during the period. Norges Bank bought a new position in Carrier Global during the second quarter worth about $524,939,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in Carrier Global by 1,742.8% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,623,000 shares of the company’s stock worth $265,167,000 after purchasing an additional 3,426,395 shares in the last quarter. Artisan Partners Limited Partnership boosted its holdings in Carrier Global by 63.6% in the 2nd quarter. Artisan Partners Limited Partnership now owns 4,952,738 shares of the company’s stock valued at $362,491,000 after purchasing an additional 1,924,804 shares during the period. Finally, Alliancebernstein L.P. grew its position 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 purchasing an additional 1,651,873 shares in the last quarter. Institutional investors own 91.00% of the company’s stock.

Analyst Upgrades and Downgrades

CARR has been the subject of a number of analyst reports. Royal Bank Of Canada dropped their price target on shares of Carrier Global from $75.00 to $70.00 and set an “outperform” rating for the company in a research report on Friday, December 5th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Carrier Global in a report on Monday. Mizuho reduced their target price on Carrier Global from $80.00 to $75.00 and set an “outperform” rating on the stock in a report on Friday, October 17th. Barclays decreased their price target on Carrier Global from $74.00 to $72.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 10th. Finally, Robert W. Baird set a $72.00 price objective on shares of Carrier Global in a research report on Wednesday, October 29th. Nine equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $72.00.

Carrier Global Stock Performance

NYSE:CARR opened at $53.59 on Friday. Carrier Global Corporation has a twelve month low of $50.30 and a twelve month high of $81.09. 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 simple moving average is $54.98 and its 200 day simple moving average is $62.98. The firm has a market capitalization of $45.13 billion, a PE ratio of 11.99, a price-to-earnings-growth ratio of 2.32 and a beta of 1.30.

Carrier Global (NYSE:CARR) last issued its earnings results 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 return on equity of 16.65% and a net margin of 18.05%.The firm had revenue of $5.58 billion during the quarter, compared to the consensus estimate of $5.65 billion. During the same quarter in the previous year, the firm earned $0.83 earnings per share. The business’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. On average, analysts anticipate that Carrier Global Corporation will post 2.99 EPS for the current fiscal year.

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

Carrier Global Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 9th. Investors of record on Tuesday, January 20th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Tuesday, January 20th. This is a positive change from Carrier Global’s previous quarterly dividend of $0.23. Carrier Global’s payout ratio is currently 20.13%.

About Carrier Global

Carrier Global Corporation is a leading global provider of heating, ventilation and air conditioning (HVAC), refrigeration, fire and security, and building automation solutions. The company designs, manufactures and sells a broad portfolio of products that includes air conditioners, furnaces, heat pumps, chillers, rooftop units, commercial refrigeration systems, fire and smoke detection and suppression systems, security sensors and access controls, and a range of building controls and analytics software.