Varma Mutual Pension Insurance Co Grows Stock Holdings in Carrier Global Corporation $CARR

Varma Mutual Pension Insurance Co raised its position in Carrier Global Corporation (NYSE:CARR) by 37.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 232,909 shares of the company’s stock after acquiring an additional 62,900 shares during the period. Varma Mutual Pension Insurance Co’s holdings in Carrier Global were worth $13,905,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CARR. AdvisorShares Investments LLC acquired a new position in Carrier Global during the 2nd quarter valued at about $25,000. Twin Peaks Wealth Advisors LLC acquired a new stake in Carrier Global in the second quarter worth about $26,000. Winnow Wealth LLC purchased a new stake in shares of Carrier Global during the second quarter worth about $26,000. Traub Capital Management LLC acquired a new position in shares of Carrier Global during the second quarter valued at about $27,000. Finally, Clayton Financial Group LLC acquired a new position in shares of Carrier Global during the third quarter valued at about $26,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Down 3.2%

Shares of CARR opened at $64.95 on Friday. The company has a market capitalization of $54.29 billion, a price-to-earnings ratio of 37.98, a PEG ratio of 2.69 and a beta of 1.33. Carrier Global Corporation has a 52 week low of $50.24 and a 52 week high of $81.09. The stock’s 50-day moving average price is $56.36 and its 200-day moving average price is $59.07. The company has a quick ratio of 0.85, a current ratio of 1.20 and a debt-to-equity ratio of 0.80.

Carrier Global (NYSE:CARR) last announced its quarterly earnings results on Thursday, February 5th. The company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.02). Carrier Global had a net margin of 6.82% and a return on equity of 15.30%. The company had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $5.05 billion. During the same quarter in the prior year, the business posted $0.54 earnings per share. The firm’s revenue was down 6.0% compared to the same quarter last year. Carrier Global has set its FY 2026 guidance at 2.800-2.800 EPS. On average, sell-side analysts predict that Carrier Global Corporation will post 2.99 EPS for the current year.

Carrier Global declared that its Board of Directors has authorized a share repurchase program on Tuesday, October 28th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the company to buy up to 10.1% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Carrier Global Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 9th. Investors of record on Tuesday, January 20th were paid a $0.24 dividend. The ex-dividend date was Tuesday, January 20th. This represents a $0.96 annualized dividend and a dividend yield of 1.5%. This is an increase from Carrier Global’s previous quarterly dividend of $0.23. Carrier Global’s dividend payout ratio (DPR) is presently 56.14%.

Analysts Set New Price Targets

Several research firms have weighed in on CARR. Mizuho dropped their target price on shares of Carrier Global from $75.00 to $67.00 and set an “outperform” rating on the stock in a research report on Monday, January 5th. Rothschild & Co Redburn lowered their price target on Carrier Global from $67.00 to $61.00 and set a “neutral” rating for the company in a research report on Wednesday, January 21st. Morgan Stanley set a $55.00 price target on Carrier Global in a research note on Thursday, January 8th. CICC Research reduced their price objective on Carrier Global from $76.85 to $69.78 and set an “outperform” rating for the company in a research note on Wednesday. Finally, JPMorgan Chase & Co. lifted their target price on Carrier Global from $60.00 to $63.00 and gave the stock a “neutral” rating in a report on Friday, January 16th. Twelve investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Carrier Global presently has a consensus rating of “Moderate Buy” and an average target price of $70.60.

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.