Pacer Advisors Inc. Raises Position in Carrier Global Corporation $CARR

Pacer Advisors Inc. lifted its stake in Carrier Global Corporation (NYSE:CARR) by 51.7% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 122,081 shares of the company’s stock after purchasing an additional 41,623 shares during the quarter. Pacer Advisors Inc.’s holdings in Carrier Global were worth $7,288,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Oak Thistle LLC bought a new position in shares of Carrier Global during the third quarter valued at approximately $1,986,000. Triasima Portfolio Management inc. purchased a new position in Carrier Global during the 2nd quarter valued at $1,421,000. Foster Victor Wealth Advisors LLC grew its position in Carrier Global by 24.1% in the 3rd quarter. Foster Victor Wealth Advisors LLC now owns 216,777 shares of the company’s stock valued at $12,931,000 after acquiring an additional 42,161 shares during the last quarter. Schroder Investment Management Group increased its stake in Carrier Global by 2.1% in the second quarter. Schroder Investment Management Group now owns 6,646,908 shares of the company’s stock worth $486,487,000 after purchasing an additional 134,785 shares during the period. Finally, Norges Bank bought a new stake in shares of Carrier Global during the second quarter worth $524,939,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Price Performance

Shares of CARR stock opened at $53.59 on Monday. The stock’s 50-day moving average is $54.98 and its 200 day moving average is $62.85. Carrier Global Corporation has a 1-year low of $50.30 and a 1-year 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. The company has a market cap of $45.13 billion, a P/E ratio of 11.99, a PEG ratio of 2.32 and a beta of 1.30.

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

Carrier Global Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 9th. Investors of record on Tuesday, January 20th will be given a dividend of $0.24 per share. 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. This represents a $0.96 dividend on an annualized basis and a yield of 1.8%. Carrier Global’s dividend payout ratio is currently 20.13%.

Carrier Global announced that its Board of Directors has approved a stock repurchase plan on Tuesday, October 28th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the company to buy up to 10.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

Several research firms have recently weighed in on CARR. Wolfe Research set a $74.00 price target on Carrier Global in a report on Tuesday, December 9th. Rothschild & Co Redburn lifted their target price on Carrier Global from $66.00 to $67.00 in a research report on Thursday, October 30th. Morgan Stanley lowered their target price on Carrier Global from $75.00 to $60.00 and set an “equal weight” rating for the company in a report on Tuesday, October 14th. Citigroup cut their price target on Carrier Global from $75.00 to $71.00 and set a “buy” rating on the stock in a research note on Wednesday, October 29th. Finally, JPMorgan Chase & Co. decreased their price objective 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 equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $72.00.

Carrier Global Company Profile

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.