PineStone Asset Management Inc. Acquires 14,961 Shares of Carrier Global Corporation $CARR

PineStone Asset Management Inc. lifted its holdings in shares of Carrier Global Corporation (NYSE:CARR) by 0.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 5,315,444 shares of the company’s stock after buying an additional 14,961 shares during the period. Carrier Global makes up approximately 2.0% of PineStone Asset Management Inc.’s portfolio, making the stock its 18th largest position. PineStone Asset Management Inc.’s holdings in Carrier Global were worth $317,332,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Costello Asset Management INC increased its position in Carrier Global by 4.2% during the second quarter. Costello Asset Management INC now owns 3,153 shares of the company’s stock worth $231,000 after buying an additional 127 shares during the last quarter. Rehmann Capital Advisory Group lifted its position in shares of Carrier Global by 1.3% in the second quarter. Rehmann Capital Advisory Group now owns 12,083 shares of the company’s stock worth $884,000 after buying an additional 150 shares during the last quarter. Penobscot Investment Management Company Inc. boosted its stake in shares of Carrier Global by 0.7% during the 2nd quarter. Penobscot Investment Management Company Inc. now owns 20,833 shares of the company’s stock worth $1,525,000 after acquiring an additional 155 shares in the last quarter. Abacus Wealth Partners LLC increased its holdings in shares of Carrier Global by 4.3% during the 2nd quarter. Abacus Wealth Partners LLC now owns 3,982 shares of the company’s stock valued at $291,000 after acquiring an additional 165 shares during the last quarter. Finally, Kingsview Wealth Management LLC increased its holdings in shares of Carrier Global by 1.0% during the 2nd quarter. Kingsview Wealth Management LLC now owns 17,110 shares of the company’s stock valued at $1,252,000 after acquiring an additional 165 shares during the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Price Performance

Shares of CARR stock opened at $53.59 on Friday. Carrier Global Corporation has a 12 month low of $50.30 and a 12 month high of $81.09. The company has a market capitalization of $45.13 billion, a P/E ratio of 11.99, a P/E/G ratio of 2.32 and a beta of 1.30. The stock has a 50 day moving average of $54.98 and a two-hundred day moving average of $62.91. 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 (NYSE:CARR) last issued its earnings results on Tuesday, October 28th. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. The business had revenue of $5.58 billion during 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 revenue was down 6.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.83 earnings per share. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. As a group, equities analysts expect that Carrier Global Corporation will post 2.99 EPS for the current year.

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

Carrier Global Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 9th. Stockholders of record on Tuesday, January 20th will be paid a $0.24 dividend. The ex-dividend date is Tuesday, January 20th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.8%. This is a positive change from Carrier Global’s previous quarterly dividend of $0.23. Carrier Global’s dividend payout ratio is currently 21.48%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CARR shares. The Goldman Sachs Group reduced their target price on Carrier Global from $72.00 to $68.00 and set a “buy” rating for the company in a report on Tuesday, December 16th. Robert W. Baird set a $72.00 price objective on shares of Carrier Global in a research note on Wednesday, October 29th. Wolfe Research set a $74.00 price objective on shares of Carrier Global in a report on Tuesday, December 9th. Zacks Research upgraded shares of Carrier Global from a “strong sell” rating to a “hold” rating in a research note on Friday, November 21st. Finally, JPMorgan Chase & Co. dropped their target price on shares of Carrier Global from $61.00 to $60.00 and set a “neutral” rating on the stock in a report on Friday, October 31st. Nine research 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.com, the stock presently has an average rating of “Hold” and an average target price of $72.00.

About Carrier Global

Carrier Global Corporation is a leading global provider of heating, ventilation and air conditioning (HVAC), refrigeration, fire and security, and building automation solutions. The company designs, manufactures and sells a broad portfolio of products that includes air conditioners, furnaces, heat pumps, chillers, rooftop units, commercial refrigeration systems, fire and smoke detection and suppression systems, security sensors and access controls, and a range of building controls and analytics software.