Assenagon Asset Management S.A. Has $26.16 Million Holdings in Carrier Global Corporation $CARR

Assenagon Asset Management S.A. raised its holdings in Carrier Global Corporation (NYSE:CARR) by 287.8% during the third quarter, HoldingsChannel.com reports. The fund owned 438,185 shares of the company’s stock after purchasing an additional 325,194 shares during the period. Assenagon Asset Management S.A.’s holdings in Carrier Global were worth $26,160,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Brighton Jones LLC lifted its stake in Carrier Global by 30.3% in the 4th quarter. Brighton Jones LLC now owns 7,958 shares of the company’s stock valued at $543,000 after purchasing an additional 1,850 shares during the last quarter. Versor Investments LP increased its holdings in shares of Carrier Global by 27.7% during the first quarter. Versor Investments LP now owns 4,853 shares of the company’s stock worth $308,000 after buying an additional 1,053 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Carrier Global by 11.1% during the first quarter. Wellington Management Group LLP now owns 201,781 shares of the company’s stock worth $12,793,000 after buying an additional 20,120 shares in the last quarter. RWA Wealth Partners LLC lifted its stake in shares of Carrier Global by 5.8% in the 1st quarter. RWA Wealth Partners LLC now owns 5,400 shares of the company’s stock valued at $342,000 after acquiring an additional 295 shares during the last quarter. Finally, Groupama Asset Managment boosted its holdings in shares of Carrier Global by 15.5% during the 1st quarter. Groupama Asset Managment now owns 14,911 shares of the company’s stock valued at $944,000 after acquiring an additional 1,997 shares in the last quarter. Institutional investors own 91.00% of the company’s stock.

Analyst Upgrades and Downgrades

CARR has been the subject of several research reports. Citigroup dropped their target price on Carrier Global from $75.00 to $71.00 and set a “buy” rating for the company in a research report on Wednesday, October 29th. The Goldman Sachs Group lowered their price objective on Carrier Global from $72.00 to $68.00 and set a “buy” rating for the company in a research note on Tuesday. Weiss Ratings reiterated a “hold (c+)” rating on shares of Carrier Global in a research report on Monday. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Carrier Global from $70.00 to $64.00 and set a “hold” rating on the stock in a report on Wednesday, October 29th. Finally, Morgan Stanley dropped their price target on shares of Carrier Global from $75.00 to $60.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 14th. Nine research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $72.00.

Carrier Global Trading Up 1.5%

CARR opened at $53.17 on Friday. Carrier Global Corporation has a twelve month low of $50.30 and a twelve month high of $81.09. The company has a fifty day moving average of $55.40 and a 200-day moving average of $63.72. The stock has a market cap of $44.78 billion, a PE ratio of 11.89, a price-to-earnings-growth ratio of 2.28 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 results on Tuesday, October 28th. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. Carrier Global had a net margin of 18.05% and a return on equity of 16.65%. The business had revenue of $5.58 billion for the quarter, compared to analysts’ expectations of $5.65 billion. During the same quarter in the prior year, the firm posted $0.83 earnings per share. The business’s quarterly revenue was down 6.8% compared to the same quarter last year. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. On average, sell-side analysts predict that Carrier Global Corporation will post 2.99 EPS for the current year.

Carrier Global Increases Dividend

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

Carrier Global declared that its Board of Directors has initiated a stock 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 repurchase up to 10.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Carrier Global Company Profile

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.