Vanguard Group Inc. Has $6.83 Billion Holdings in Carrier Global Corporation $CARR

Vanguard Group Inc. increased its holdings in shares of Carrier Global Corporation (NYSE:CARR) by 0.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 93,373,143 shares of the company’s stock after acquiring an additional 450,594 shares during the period. Vanguard Group Inc. owned about 10.97% of Carrier Global worth $6,833,980,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC raised its holdings in shares of Carrier Global by 30.3% in the fourth quarter. Brighton Jones LLC now owns 7,958 shares of the company’s stock valued at $543,000 after buying an additional 1,850 shares during the last quarter. J.W. Cole Advisors Inc. grew its holdings in Carrier Global by 171.5% during the 1st quarter. J.W. Cole Advisors Inc. now owns 39,287 shares of the company’s stock worth $2,491,000 after acquiring an additional 24,818 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its position in Carrier Global by 3.9% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 64,431 shares of the company’s stock valued at $4,085,000 after acquiring an additional 2,425 shares in the last quarter. Crestwood Advisors Group LLC raised its stake in shares of Carrier Global by 7.8% in the first quarter. Crestwood Advisors Group LLC now owns 16,929 shares of the company’s stock worth $1,073,000 after acquiring an additional 1,219 shares during the last quarter. Finally, United Bank acquired a new position in shares of Carrier Global during the first quarter worth approximately $763,000. Institutional investors own 91.00% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CARR. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Carrier Global from $70.00 to $64.00 and set a “hold” rating for the company in a report on Wednesday, October 29th. Weiss Ratings cut Carrier Global from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday. Barclays cut 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. Robert W. Baird set a $72.00 price objective on Carrier Global in a research report on Wednesday, October 29th. Finally, Zacks Research cut Carrier Global from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 14th. Nine investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Carrier Global presently has an average rating of “Hold” and an average price target of $72.94.

Carrier Global Trading Down 2.0%

NYSE CARR opened at $52.05 on Wednesday. Carrier Global Corporation has a 12 month low of $51.95 and a 12 month high of $81.09. The stock has a 50-day simple moving average of $58.37 and a 200 day simple moving average of $66.54. The company has a current ratio of 1.14, a quick ratio of 0.75 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $43.84 billion, a PE ratio of 11.64, a P/E/G ratio of 2.22 and a beta of 1.30.

Carrier Global (NYSE:CARR) last issued its earnings results on Tuesday, October 28th. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. The firm had revenue of $5.58 billion for the quarter, compared to analysts’ expectations of $5.65 billion. Carrier Global had a return on equity of 16.65% and a net margin of 18.05%.The company’s revenue was down 6.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.83 earnings per share. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. Research analysts forecast that Carrier Global Corporation will post 2.99 EPS for the current year.

Carrier Global Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 18th. Investors of record on Wednesday, October 29th were issued a dividend of $0.225 per share. The ex-dividend date was Wednesday, October 29th. This represents a $0.90 dividend on an annualized basis and a yield of 1.7%. Carrier Global’s payout ratio is currently 20.13%.

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

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.