Zions Bancorporation National Association UT Buys 9,938 Shares of Carrier Global Corporation $CARR

Zions Bancorporation National Association UT increased its stake in shares of Carrier Global Corporation (NYSE:CARR) by 553.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,733 shares of the company’s stock after buying an additional 9,938 shares during the quarter. Zions Bancorporation National Association UT’s holdings in Carrier Global were worth $859,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Nuveen LLC acquired a new stake in shares of Carrier Global during the 1st quarter worth $649,512,000. JPMorgan Chase & Co. lifted its position in Carrier Global by 17.6% during the first quarter. JPMorgan Chase & Co. now owns 31,126,869 shares of the company’s stock worth $1,973,444,000 after purchasing an additional 4,668,929 shares during the period. Alliancebernstein L.P. grew its stake in Carrier Global by 61.9% during the first quarter. Alliancebernstein L.P. now owns 4,318,806 shares of the company’s stock worth $273,812,000 after buying an additional 1,651,873 shares in the last quarter. Nicholas Company Inc. acquired a new stake in Carrier Global during the second quarter worth about $67,497,000. Finally, Victory Capital Management Inc. increased its holdings in Carrier Global by 23.5% in the 1st quarter. Victory Capital Management Inc. now owns 4,512,774 shares of the company’s stock valued at $286,110,000 after buying an additional 857,694 shares during the period. 91.00% of the stock is owned by institutional investors and hedge funds.

Carrier Global Stock Up 1.5%

Shares of NYSE:CARR opened at $57.42 on Monday. Carrier Global Corporation has a 52-week low of $54.22 and a 52-week high of $81.09. The company has a market capitalization of $48.36 billion, a PE ratio of 12.85, a price-to-earnings-growth ratio of 2.41 and a beta of 1.30. 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 company has a fifty day moving average of $59.66 and a 200-day moving average of $66.97.

Carrier Global (NYSE:CARR) last issued its quarterly earnings data on Tuesday, October 28th. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. Carrier Global had a return on equity of 16.65% and a net margin of 18.05%.The business had revenue of $5.58 billion for the quarter, compared to analyst estimates of $5.65 billion. During the same quarter in the previous year, the company posted $0.83 EPS. Carrier Global’s quarterly 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, equities analysts predict that Carrier Global Corporation will post 2.99 EPS for the current fiscal year.

Carrier Global announced that its board has approved a stock repurchase program on Tuesday, October 28th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 10.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Carrier Global Announces Dividend

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

Analyst Ratings Changes

A number of brokerages have recently weighed in on CARR. Wolfe Research cut their price target on shares of Carrier Global from $76.00 to $75.00 and set an “outperform” rating for the company in a report on Wednesday, October 29th. Morgan Stanley cut their target price on Carrier Global from $75.00 to $60.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 14th. Rothschild & Co Redburn raised their target price on Carrier Global from $66.00 to $67.00 in a report on Thursday, October 30th. Barclays decreased their price target on Carrier Global from $82.00 to $74.00 and set an “overweight” rating on the stock in a research note on Thursday, September 11th. Finally, Oppenheimer restated a “market perform” rating on shares of Carrier Global in a research report on Wednesday, October 29th. Eleven investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $74.18.

About Carrier Global

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.