SG Americas Securities LLC Acquires 13,124 Shares of Carrier Global Corporation $CARR

SG Americas Securities LLC raised its stake in shares of Carrier Global Corporation (NYSE:CARR) by 74.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,671 shares of the company’s stock after buying an additional 13,124 shares during the period. SG Americas Securities LLC’s holdings in Carrier Global were worth $1,831,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in CARR. Vanguard Group Inc. increased its holdings in shares of Carrier Global by 0.5% during the 2nd quarter. Vanguard Group Inc. now owns 93,373,143 shares of the company’s stock valued at $6,833,980,000 after acquiring an additional 450,594 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Carrier Global by 23.8% during the second quarter. JPMorgan Chase & Co. now owns 38,536,301 shares of the company’s stock worth $2,820,485,000 after purchasing an additional 7,409,432 shares during the period. Fisher Asset Management LLC boosted its position in Carrier Global by 3.1% during the second quarter. Fisher Asset Management LLC now owns 15,048,555 shares of the company’s stock worth $1,101,404,000 after purchasing an additional 448,055 shares during the period. Brown Advisory Inc. grew its holdings in Carrier Global by 6.3% during the second quarter. Brown Advisory Inc. now owns 10,281,880 shares of the company’s stock valued at $752,533,000 after purchasing an additional 607,901 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Carrier Global in the second quarter valued at approximately $524,939,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CARR. Morgan Stanley set a $55.00 price objective on shares of Carrier Global in a research note on Thursday, January 8th. Wolfe Research set a $74.00 target price on shares of Carrier Global in a research report on Tuesday, December 9th. Weiss Ratings restated a “hold (c+)” rating on shares of Carrier Global in a report on Monday, December 29th. Zacks Research upgraded Carrier Global from a “strong sell” rating to a “hold” rating in a research note on Friday, November 21st. Finally, Royal Bank Of Canada cut their price objective on Carrier Global from $75.00 to $70.00 and set an “outperform” rating for the company in a research report on Friday, December 5th. Ten analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $71.06.

Carrier Global Stock Up 0.7%

NYSE CARR opened at $55.58 on Thursday. Carrier Global Corporation has a twelve month low of $50.24 and a twelve month high of $81.09. The stock has a market cap of $46.81 billion, a PE ratio of 12.43, a PEG ratio of 2.14 and a beta of 1.31. The firm has a 50-day simple moving average of $53.87 and a 200 day simple moving average of $61.32. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.75 and a current ratio of 1.14.

Carrier Global (NYSE:CARR) last issued its quarterly earnings results 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. The firm 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%.The company’s quarterly revenue was down 6.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.83 earnings per share. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. On average, research analysts forecast that Carrier Global Corporation will post 2.99 EPS for the current year.

Carrier Global Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 9th. Investors of record on Tuesday, January 20th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.7%. This is an increase from Carrier Global’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Tuesday, January 20th. Carrier Global’s dividend payout ratio (DPR) is 21.48%.

Carrier Global declared that its Board of Directors 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 reacquire up to 10.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

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.