Fjarde AP Fonden Fourth Swedish National Pension Fund Buys 6,500 Shares of Carrier Global Corporation $CARR

Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in Carrier Global Corporation (NYSE:CARR) by 5.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 117,289 shares of the company’s stock after acquiring an additional 6,500 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Carrier Global were worth $8,584,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Golden State Wealth Management LLC raised its holdings in Carrier Global by 51.8% during the 1st quarter. Golden State Wealth Management LLC now owns 1,389 shares of the company’s stock valued at $88,000 after buying an additional 474 shares during the last quarter. Ransom Advisory Ltd bought a new position in shares of Carrier Global during the first quarter valued at about $400,000. Shell Asset Management Co. lifted its holdings in Carrier Global by 98.4% in the 2nd quarter. Shell Asset Management Co. now owns 24,160 shares of the company’s stock worth $1,768,000 after buying an additional 11,980 shares during the period. Nordea Investment Management AB grew its position in shares of Carrier Global by 1.5% in the 2nd quarter. Nordea Investment Management AB now owns 73,150 shares of the company’s stock worth $5,369,000 after buying an additional 1,074 shares during the last quarter. Finally, Aberdeen Group plc grew its position in shares of Carrier Global by 1.8% in the 1st quarter. Aberdeen Group plc now owns 717,658 shares of the company’s stock worth $44,854,000 after buying an additional 12,346 shares during the last quarter. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Carrier Global Stock Up 3.5%

Shares of NYSE:CARR opened at $60.81 on Thursday. The company has a current ratio of 1.14, a quick ratio of 0.80 and a debt-to-equity ratio of 0.76. The stock has a fifty day simple moving average of $60.85 and a two-hundred day simple moving average of $67.00. Carrier Global Corporation has a 12-month low of $54.22 and a 12-month high of $81.09. The stock has a market capitalization of $51.75 billion, a price-to-earnings ratio of 13.60, a PEG ratio of 1.97 and a beta of 1.25.

Carrier Global (NYSE:CARR) last issued its earnings results on Tuesday, October 28th. The company reported $0.67 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $5.65 billion. During the same quarter in the prior year, the firm posted $0.83 earnings per share. The business’s revenue was down 6.8% on a year-over-year basis. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. On average, research analysts anticipate that Carrier Global Corporation will post 2.99 earnings per share for the current fiscal year.

Carrier Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 18th. Investors of record on Wednesday, October 29th will be given a dividend of $0.225 per share. The ex-dividend date of this dividend is Wednesday, October 29th. This represents a $0.90 annualized dividend and a dividend yield of 1.5%. Carrier Global’s dividend payout ratio (DPR) is 19.61%.

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 reacquire up to 10.1% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

CARR has been the subject of a number of recent analyst reports. Wolfe Research decreased their target price on Carrier Global from $77.00 to $76.00 and set an “outperform” rating for the company in a report on Wednesday, October 8th. Oppenheimer restated a “market perform” rating on shares of Carrier Global in a report on Wednesday. Morgan Stanley dropped their target price on shares of Carrier Global from $75.00 to $60.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 14th. Robert W. Baird set a $72.00 price target on shares of Carrier Global in a research note on Wednesday. Finally, Citigroup cut their price objective on Carrier Global from $75.00 to $71.00 and set a “buy” rating on the stock in a research report on Wednesday. Eleven analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Carrier Global presently has an average rating of “Moderate Buy” and an average price target of $74.82.

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.