346,368 Shares in Carrier Global Corporation $CARR Purchased by Deprince Race & Zollo Inc.

Deprince Race & Zollo Inc. acquired a new stake in Carrier Global Corporation (NYSE:CARR) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 346,368 shares of the company’s stock, valued at approximately $20,678,000.

Several other institutional investors and hedge funds also recently modified their holdings of CARR. JPMorgan Chase & Co. increased its stake in shares of Carrier Global by 23.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 38,536,301 shares of the company’s stock worth $2,820,485,000 after purchasing an additional 7,409,432 shares in the last quarter. Norges Bank acquired a new stake in Carrier Global during the 2nd quarter valued at $524,939,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in Carrier Global by 1,742.8% during the second 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 buying an additional 3,426,395 shares in the last quarter. Artisan Partners Limited Partnership raised its holdings in shares of Carrier Global by 63.6% in the second quarter. Artisan Partners Limited Partnership now owns 4,952,738 shares of the company’s stock worth $362,491,000 after acquiring an additional 1,924,804 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its position in shares of Carrier Global by 61.9% in the first quarter. Alliancebernstein L.P. now owns 4,318,806 shares of the company’s stock valued at $273,812,000 after acquiring an additional 1,651,873 shares in the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Performance

Shares of CARR stock opened at $53.59 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.75 and a current ratio of 1.14. The firm has a market capitalization of $45.13 billion, a price-to-earnings ratio of 11.99, a price-to-earnings-growth ratio of 2.32 and a beta of 1.30. Carrier Global Corporation has a one year low of $50.30 and a one year high of $81.09. The company has a 50 day moving average price of $54.98 and a 200 day moving average price of $62.91.

Carrier Global (NYSE:CARR) last announced its quarterly earnings data on Tuesday, October 28th. The company reported $0.67 earnings per share (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 analysts’ expectations of $5.65 billion. Carrier Global had a net margin of 18.05% and a return on equity of 16.65%. The business’s quarterly revenue was down 6.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.83 EPS. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. Sell-side analysts anticipate that Carrier Global Corporation will post 2.99 EPS for the current year.

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

Carrier Global Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 9th. Shareholders of record on Tuesday, January 20th will be paid a dividend of $0.24 per share. This is a boost from Carrier Global’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a yield of 1.8%. The ex-dividend date is Tuesday, January 20th. Carrier Global’s payout ratio is currently 21.48%.

Wall Street Analyst Weigh In

CARR has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft dropped their price objective on Carrier Global from $70.00 to $64.00 and set a “hold” rating for the company in a research report on Wednesday, October 29th. Wells Fargo & Company cut their price objective on shares of Carrier Global from $62.00 to $59.00 and set an “equal weight” rating for the company in a research report on Thursday, December 4th. Royal Bank Of Canada reduced their price objective on shares of Carrier Global from $75.00 to $70.00 and set an “outperform” rating on the stock in a research note on Friday, December 5th. Oppenheimer reaffirmed a “market perform” rating on shares of Carrier Global in a research note on Wednesday, October 29th. Finally, JPMorgan Chase & Co. cut their price target on Carrier Global from $61.00 to $60.00 and set a “neutral” rating for the company in a report on Friday, October 31st. Nine investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, Carrier Global presently has an average rating of “Hold” and an average price target of $72.00.

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.