Vinva Investment Management Ltd Grows Stock Holdings in Carrier Global Corporation $CARR

Vinva Investment Management Ltd raised its stake in shares of Carrier Global Corporation (NYSE:CARR) by 183.3% in the second quarter, Holdings Channel.com reports. The institutional investor owned 99,842 shares of the company’s stock after buying an additional 64,596 shares during the quarter. Vinva Investment Management Ltd’s holdings in Carrier Global were worth $7,355,000 as of its most recent filing with the Securities and Exchange Commission.

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

Carrier Global Trading Up 0.9%

CARR stock opened at $54.44 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.14 and a quick ratio of 0.75. Carrier Global Corporation has a 1-year low of $50.30 and a 1-year high of $81.09. The business has a 50 day simple moving average of $57.13 and a two-hundred day simple moving average of $65.72. The company has a market capitalization of $45.85 billion, a price-to-earnings ratio of 12.18, a PEG ratio of 2.36 and a beta of 1.30.

Carrier Global (NYSE:CARR) last released its quarterly earnings data on Tuesday, October 28th. The company reported $0.67 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $5.58 billion for the quarter, compared to analysts’ expectations of $5.65 billion. During the same quarter last year, the business posted $0.83 earnings per share. The company’s revenue for the quarter 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. Research analysts anticipate that Carrier Global Corporation will post 2.99 EPS for the current fiscal year.

Carrier Global Announces Dividend

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

Carrier Global announced that its Board of Directors has initiated 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 shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Wells Fargo & Company cut their target price 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. Rothschild & Co Redburn lifted their price target on shares of Carrier Global from $66.00 to $67.00 in a research note on Thursday, October 30th. The Goldman Sachs Group reduced their price objective on Carrier Global from $76.00 to $72.00 and set a “buy” rating for the company in a research note on Wednesday, October 29th. Royal Bank Of Canada decreased their target price on Carrier Global from $87.00 to $75.00 and set an “outperform” rating on the stock in a report on Friday, September 12th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Carrier Global from $70.00 to $64.00 and set a “hold” rating on the stock in a research report on Wednesday, October 29th. Nine investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Carrier Global currently has an average rating of “Hold” and a consensus price target of $72.94.

Carrier Global Company Profile

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.