BAM Wealth Management LLC Purchases New Stake in Carrier Global Corporation $CARR

BAM Wealth Management LLC acquired a new position in shares of Carrier Global Corporation (NYSE:CARR) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 10,680 shares of the company’s stock, valued at approximately $638,000.

A number of other large investors also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. raised its stake in shares of Carrier Global by 23.8% during the second quarter. JPMorgan Chase & Co. now owns 38,536,301 shares of the company’s stock worth $2,820,485,000 after buying an additional 7,409,432 shares during the last quarter. Norges Bank acquired a new stake in Carrier Global during the 2nd quarter worth $524,939,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in shares of Carrier Global by 1,742.8% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,623,000 shares of the company’s stock valued at $265,167,000 after acquiring an additional 3,426,395 shares during the last quarter. Artisan Partners Limited Partnership lifted its stake in shares of 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, Soundwatch Capital LLC bought a new position in shares of Carrier Global in the 2nd quarter worth $1,074,000. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Carrier Global Stock Performance

Shares of CARR stock opened at $57.32 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. Carrier Global Corporation has a 52 week low of $50.24 and a 52 week high of $81.09. The company’s 50 day moving average price is $53.92 and its two-hundred day moving average price is $60.53. The company has a market capitalization of $48.27 billion, a P/E ratio of 12.82, a price-to-earnings-growth ratio of 2.31 and a beta of 1.31.

Carrier Global (NYSE:CARR) last issued its quarterly earnings data 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 company had revenue of $5.58 billion during the quarter, compared to the consensus estimate of $5.65 billion. During the same quarter in the prior year, the firm earned $0.83 earnings per share. The firm’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. On average, analysts expect 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. Shareholders of record on Tuesday, January 20th will be issued a dividend of $0.24 per share. This is a boost from Carrier Global’s previous quarterly dividend of $0.23. The ex-dividend date is Tuesday, January 20th. This represents a $0.96 dividend on an annualized basis and a yield of 1.7%. Carrier Global’s dividend payout ratio is currently 21.48%.

Carrier Global declared that its board 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 repurchase up to 10.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

Several research firms have weighed in on CARR. Barclays cut their target price on Carrier Global from $74.00 to $72.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 10th. Mizuho cut their price target on shares of Carrier Global from $75.00 to $67.00 and set an “outperform” rating on the stock in a research report on Monday, January 5th. UBS Group reduced their price objective on shares of Carrier Global from $73.00 to $70.00 and set a “buy” rating on the stock in a research note on Monday, January 5th. Morgan Stanley set a $55.00 price objective on shares of Carrier Global in a report on Thursday, January 8th. Finally, Wells Fargo & Company cut their target price on shares of Carrier Global from $62.00 to $59.00 and set an “equal weight” rating on the stock in a report on Thursday, December 4th. Ten investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.44.

Carrier Global 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.