Aurora Investment Counsel Raises Position in Carrier Global Corporation $CARR

Aurora Investment Counsel boosted its stake in Carrier Global Corporation (NYSE:CARR) by 2.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,154 shares of the company’s stock after buying an additional 794 shares during the quarter. Carrier Global makes up approximately 1.2% of Aurora Investment Counsel’s portfolio, making the stock its 29th largest holding. Aurora Investment Counsel’s holdings in Carrier Global were worth $2,280,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CARR. Nuveen LLC purchased a new position in Carrier Global in the 1st quarter valued at about $649,512,000. JPMorgan Chase & Co. lifted its stake in Carrier Global by 17.6% in the 1st quarter. JPMorgan Chase & Co. now owns 31,126,869 shares of the company’s stock valued at $1,973,444,000 after buying an additional 4,668,929 shares in the last quarter. Brown Advisory Inc. lifted its stake in Carrier Global by 82.6% in the 1st quarter. Brown Advisory Inc. now owns 9,673,979 shares of the company’s stock valued at $613,330,000 after buying an additional 4,377,402 shares in the last quarter. Alliancebernstein L.P. lifted its stake in Carrier Global by 61.9% in the 1st quarter. Alliancebernstein L.P. now owns 4,318,806 shares of the company’s stock valued at $273,812,000 after buying an additional 1,651,873 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in Carrier Global by 23.5% in the 1st quarter. Victory Capital Management Inc. now owns 4,512,774 shares of the company’s stock valued at $286,110,000 after buying an additional 857,694 shares in the last quarter. 91.00% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CARR. Morgan Stanley decreased their price target on shares of Carrier Global from $75.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 14th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Carrier Global from $73.00 to $70.00 and set a “hold” rating on the stock in a research note on Tuesday, September 23rd. Royal Bank Of Canada decreased their target price on shares of Carrier Global from $87.00 to $75.00 and set an “outperform” rating on the stock in a research note on Friday, September 12th. Zacks Research lowered shares of Carrier Global from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 14th. Finally, The Goldman Sachs Group decreased their target price on shares of Carrier Global from $88.00 to $76.00 and set a “buy” rating on the stock in a research note on Friday, September 12th. Eleven analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Carrier Global has a consensus rating of “Hold” and an average target price of $75.67.

Carrier Global Stock Up 2.6%

CARR stock opened at $57.64 on Tuesday. The firm has a market cap of $49.06 billion, a PE ratio of 12.56, a PEG ratio of 1.85 and a beta of 1.25. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.80 and a current ratio of 1.17. The firm’s 50 day moving average price is $61.94 and its 200-day moving average price is $66.99. Carrier Global Corporation has a one year low of $54.22 and a one year high of $82.18.

Carrier Global (NYSE:CARR) last released its quarterly earnings results on Tuesday, July 29th. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.90 by $0.02. The firm had revenue of $6.11 billion for the quarter, compared to analyst estimates of $6.08 billion. Carrier Global had a net margin of 18.33% and a return on equity of 17.83%. Carrier Global has set its FY 2025 guidance at 3.000-3.100 EPS. On average, equities research analysts anticipate that Carrier Global Corporation will post 2.99 EPS for the current year.

Carrier Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 18th. Stockholders of record on Wednesday, October 29th will be given a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Wednesday, October 29th. Carrier Global’s payout ratio is presently 19.61%.

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.