Deprince Race & Zollo Inc. Purchases Shares of 346,368 Carrier Global Corporation $CARR

Deprince Race & Zollo Inc. acquired a new position in shares of Carrier Global Corporation (NYSE:CARR) in the 3rd quarter, HoldingsChannel reports. The fund acquired 346,368 shares of the company’s stock, valued at approximately $20,678,000.

A number of other hedge funds have also made changes to their positions in the business. Tower View Wealth Management LLC increased its holdings in Carrier Global by 3.4% in the 3rd quarter. Tower View Wealth Management LLC now owns 61,780 shares of the company’s stock valued at $3,688,000 after purchasing an additional 2,050 shares in the last quarter. KRS Capital Management LLC boosted its position in shares of Carrier Global by 4.7% in the third quarter. KRS Capital Management LLC now owns 5,807 shares of the company’s stock worth $347,000 after buying an additional 259 shares during the period. Trust Co. of Toledo NA OH grew its stake in shares of Carrier Global by 5.9% in the third quarter. Trust Co. of Toledo NA OH now owns 24,679 shares of the company’s stock valued at $1,473,000 after buying an additional 1,372 shares in the last quarter. HBK Sorce Advisory LLC grew its stake in shares of Carrier Global by 7.7% in the third quarter. HBK Sorce Advisory LLC now owns 14,867 shares of the company’s stock valued at $851,000 after buying an additional 1,067 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of Carrier Global by 10.6% during the 3rd quarter. Blue Trust Inc. now owns 3,417 shares of the company’s stock valued at $204,000 after buying an additional 328 shares during the period. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Wolfe Research set a $74.00 price target on Carrier Global in a report on Tuesday, December 9th. Zacks Research raised shares of Carrier Global from a “strong sell” rating to a “hold” rating in a research report on Friday, November 21st. Oppenheimer reaffirmed a “market perform” rating on shares of Carrier Global in a report on Wednesday, October 29th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Carrier Global in a research note on Monday, December 22nd. Finally, Robert W. Baird set a $72.00 price objective on shares of Carrier Global in a research report on Wednesday, October 29th. Nine equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $72.00.

Carrier Global Trading Up 0.2%

CARR opened at $53.59 on Friday. The stock has a market capitalization of $45.13 billion, a PE ratio of 11.99, a P/E/G ratio of 2.32 and a beta of 1.30. The firm’s fifty day moving average price is $54.98 and its 200 day moving average price is $62.91. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.14 and a quick ratio of 0.75. Carrier Global Corporation has a 12-month low of $50.30 and a 12-month high of $81.09.

Carrier Global (NYSE:CARR) last announced its quarterly earnings data on Tuesday, October 28th. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.10. The company had revenue of $5.58 billion during the quarter, compared to analyst estimates of $5.65 billion. Carrier Global had a net margin of 18.05% and a return on equity of 16.65%. The firm’s revenue for the quarter was down 6.8% compared to the same quarter last year. 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. As a group, research analysts expect that Carrier Global Corporation will post 2.99 EPS for the current fiscal year.

Carrier Global Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 9th. Investors of record on Tuesday, January 20th will be issued a $0.24 dividend. 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 dividend payout ratio is presently 21.48%.

Carrier Global declared that its Board of Directors has approved a stock 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 often an indication that the company’s management believes its shares are undervalued.

Carrier Global Profile

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.