Edgestream Partners L.P. Has $2.21 Million Position in Carrier Global Corporation $CARR

Edgestream Partners L.P. lifted its holdings in Carrier Global Corporation (NYSE:CARR) by 344.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,131 shares of the company’s stock after acquiring an additional 23,348 shares during the period. Edgestream Partners L.P.’s holdings in Carrier Global were worth $2,205,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Carrier Global by 0.5% in the second quarter. Vanguard Group Inc. now owns 93,373,143 shares of the company’s stock worth $6,833,980,000 after purchasing an additional 450,594 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Carrier Global by 23.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 38,536,301 shares of the company’s stock worth $2,820,485,000 after buying an additional 7,409,432 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Carrier Global during the 1st quarter worth approximately $649,512,000. Norges Bank bought a new stake in shares of Carrier Global in the 2nd quarter valued at $524,939,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Carrier Global by 0.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 6,968,294 shares of the company’s stock valued at $441,790,000 after acquiring an additional 38,233 shares during the period. Institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Down 0.3%

Shares of NYSE:CARR opened at $54.47 on Friday. The business’s 50 day moving average is $56.60 and its 200 day moving average is $65.04. Carrier Global Corporation has a 12-month low of $50.30 and a 12-month high of $81.09. The stock has a market cap of $45.87 billion, a price-to-earnings ratio of 12.19, a PEG ratio of 2.37 and a beta of 1.30. The company has a quick ratio of 0.75, a current ratio of 1.14 and a debt-to-equity ratio of 0.76.

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

Carrier Global declared that its board has approved a stock buyback program on Tuesday, October 28th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 10.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Carrier Global Increases Dividend

The company 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 dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.8%. This is a boost from Carrier Global’s previous quarterly dividend of $0.23. The ex-dividend date is Tuesday, January 20th. Carrier Global’s dividend payout ratio is presently 20.13%.

Analyst Upgrades and Downgrades

A number of research firms have commented on CARR. Barclays reduced their price target on shares of Carrier Global from $82.00 to $74.00 and set an “overweight” rating for the company in a report on Thursday, September 11th. The Goldman Sachs Group reduced their target price on Carrier Global from $76.00 to $72.00 and set a “buy” rating for the company in a research note on Wednesday, October 29th. JPMorgan Chase & Co. dropped their price target on Carrier Global from $61.00 to $60.00 and set a “neutral” rating on the stock in a research note on Friday, October 31st. Mizuho cut their price target on Carrier Global from $80.00 to $75.00 and set an “outperform” rating on the stock in a report on Friday, October 17th. Finally, Royal Bank Of Canada decreased their price objective on Carrier Global from $87.00 to $75.00 and set an “outperform” rating for the company in a report on Friday, September 12th. Nine research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $72.75.

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.