Legal & General Group Plc Has $341.76 Million Stake in Carrier Global Corporation $CARR

Legal & General Group Plc boosted its holdings in Carrier Global Corporation (NYSE:CARR) by 1.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,669,536 shares of the company’s stock after purchasing an additional 50,430 shares during the period. Legal & General Group Plc owned about 0.55% of Carrier Global worth $341,763,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. AdvisorShares Investments LLC acquired a new position in shares of Carrier Global during the 2nd quarter worth about $25,000. Winnow Wealth LLC bought a new stake in Carrier Global during the second quarter worth about $26,000. Traub Capital Management LLC acquired a new position in Carrier Global during the second quarter valued at approximately $27,000. REAP Financial Group LLC bought a new position in Carrier Global in the second quarter valued at approximately $29,000. Finally, Accredited Wealth Management LLC acquired a new position in shares of Carrier Global during the 1st quarter worth approximately $28,000. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Carrier Global Price Performance

NYSE:CARR opened at $52.36 on Friday. Carrier Global Corporation has a 52 week low of $50.30 and a 52 week high of $81.09. 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’s 50-day simple moving average is $57.71 and its 200 day simple moving average is $66.16. The firm has a market cap of $44.10 billion, a price-to-earnings ratio of 11.71, a P/E/G ratio of 2.27 and a beta of 1.30.

Carrier Global (NYSE:CARR) last announced 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 analyst estimates of $5.65 billion. Carrier Global had a net margin of 18.05% and a return on equity of 16.65%. The business’s revenue was down 6.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.83 EPS. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. As a group, sell-side analysts predict that Carrier Global Corporation will post 2.99 earnings per share for the current year.

Carrier Global declared that its Board of Directors has approved a stock repurchase plan on Tuesday, October 28th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the company to purchase up to 10.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Carrier Global Announces Dividend

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

Wall Street Analyst Weigh In

CARR has been the subject of several recent analyst reports. Citigroup cut their price objective on Carrier Global from $75.00 to $71.00 and set a “buy” rating for the company in a report on Wednesday, October 29th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Carrier Global in a research report on Thursday, September 11th. Wells Fargo & Company decreased their price objective on shares of Carrier Global from $65.00 to $62.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 29th. Mizuho dropped their target price on shares of Carrier Global from $80.00 to $75.00 and set an “outperform” rating on the stock in a report on Friday, October 17th. Finally, Oppenheimer reiterated a “market perform” rating on shares of Carrier Global in a research note on Wednesday, October 29th. Nine investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $72.94.

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.