Brevan Howard Capital Management LP Increases Position in Carrier Global Corporation $CARR

Brevan Howard Capital Management LP lifted its position in Carrier Global Corporation (NYSE:CARR) by 91.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 190,206 shares of the company’s stock after acquiring an additional 90,650 shares during the period. Brevan Howard Capital Management LP’s holdings in Carrier Global were worth $13,921,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Triasima Portfolio Management inc. purchased a new stake in shares of Carrier Global in the 2nd quarter valued at $1,421,000. Schroder Investment Management Group raised its holdings in shares of Carrier Global by 2.1% during the second quarter. Schroder Investment Management Group now owns 6,646,908 shares of the company’s stock worth $486,487,000 after purchasing an additional 134,785 shares during the last quarter. Norges Bank acquired a new position in Carrier Global during the second quarter valued at $524,939,000. Atlantic Union Bankshares Corp boosted its holdings in Carrier Global by 73.2% in the second quarter. Atlantic Union Bankshares Corp now owns 6,240 shares of the company’s stock valued at $457,000 after purchasing an additional 2,638 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Carrier Global by 540.8% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,098,347 shares of the company’s stock valued at $80,388,000 after purchasing an additional 926,946 shares during the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on CARR shares. Oppenheimer reiterated a “market perform” rating on shares of Carrier Global in a research note on Wednesday, October 29th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Carrier Global in a report on Monday. Zacks Research upgraded Carrier Global from a “strong sell” rating to a “hold” rating in a research report on Friday, November 21st. JPMorgan Chase & Co. lowered their price objective on Carrier Global from $61.00 to $60.00 and set a “neutral” rating on the stock in a research report on Friday, October 31st. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Carrier Global in a research note on Thursday, September 11th. Nine analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $72.25.

Carrier Global Stock Performance

NYSE CARR opened at $52.91 on Friday. The stock has a market capitalization of $44.56 billion, a price-to-earnings ratio of 11.84, a PEG ratio of 2.35 and a beta of 1.30. The stock has a 50-day moving average of $55.90 and a 200 day moving average of $64.23. The company has a current ratio of 1.14, a quick ratio of 0.75 and a debt-to-equity ratio of 0.76. Carrier Global Corporation has a twelve month low of $50.30 and a twelve month high of $81.09.

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

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

Carrier Global Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 9th. Investors of record on Tuesday, January 20th will be issued a $0.24 dividend. 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 payout ratio is presently 21.48%.

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.