California Public Employees Retirement System Buys 46,063 Shares of Carrier Global Corporation $CARR

California Public Employees Retirement System lifted its stake in Carrier Global Corporation (NYSE:CARR) by 3.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,331,868 shares of the company’s stock after buying an additional 46,063 shares during the period. California Public Employees Retirement System owned about 0.16% of Carrier Global worth $97,479,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in CARR. Cary Street Partners Financial LLC boosted its position in shares of Carrier Global by 15.0% during the 2nd quarter. Cary Street Partners Financial LLC now owns 98,489 shares of the company’s stock valued at $7,208,000 after acquiring an additional 12,871 shares in the last quarter. Federated Hermes Inc. lifted its stake in Carrier Global by 340.3% during the second quarter. Federated Hermes Inc. now owns 8,639 shares of the company’s stock worth $632,000 after purchasing an additional 6,677 shares during the period. Gamco Investors INC. ET AL lifted its stake in Carrier Global by 21.9% during the second quarter. Gamco Investors INC. ET AL now owns 149,263 shares of the company’s stock worth $10,925,000 after purchasing an additional 26,866 shares during the period. Avestar Capital LLC boosted its holdings in Carrier Global by 6.1% during the second quarter. Avestar Capital LLC now owns 12,570 shares of the company’s stock valued at $920,000 after purchasing an additional 725 shares in the last quarter. Finally, Flow Traders U.S. LLC acquired a new position in shares of Carrier Global in the 2nd quarter worth approximately $554,000. 91.00% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on CARR shares. 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. 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. Wells Fargo & Company decreased their price objective on shares of Carrier Global from $62.00 to $59.00 and set an “equal weight” rating on the stock in a research note on Thursday. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Carrier Global in a report on Monday, December 1st. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Carrier Global in a report on Thursday, September 11th. Nine equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, Carrier Global has a consensus rating of “Hold” and a consensus price target of $72.44.

Carrier Global Stock Down 2.3%

Shares of Carrier Global stock opened at $53.02 on Tuesday. The business has a fifty day simple moving average of $56.39 and a 200 day simple moving average of $64.63. The stock has a market cap of $44.66 billion, a PE ratio of 11.86, a price-to-earnings-growth ratio of 2.36 and a beta of 1.30. The company has a quick ratio of 0.75, a current ratio of 1.14 and a debt-to-equity ratio of 0.76. Carrier Global Corporation has a 12 month low of $50.30 and a 12 month high of $81.09.

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, beating analysts’ consensus estimates of $0.57 by $0.10. The firm had revenue of $5.58 billion during the quarter, compared to analysts’ expectations 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 for the quarter was down 6.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.83 earnings per share. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. Research analysts predict that Carrier Global Corporation will post 2.99 EPS for the current year.

Carrier Global declared that its board has initiated a share repurchase plan on Tuesday, October 28th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the company to purchase up to 10.1% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Carrier Global Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 9th. Investors of record on Tuesday, January 20th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Tuesday, January 20th. This is a boost from Carrier Global’s previous quarterly dividend of $0.23. Carrier Global’s dividend payout ratio (DPR) is 20.13%.

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.