Paradigm Asset Management Co. LLC Acquires 3,200 Shares of Carrier Global Corporation $CARR

Paradigm Asset Management Co. LLC raised its holdings in Carrier Global Corporation (NYSE:CARR) by 213.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,700 shares of the company’s stock after buying an additional 3,200 shares during the period. Paradigm Asset Management Co. LLC’s holdings in Carrier Global were worth $344,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Shell Asset Management Co. raised its position in Carrier Global by 98.4% in the second quarter. Shell Asset Management Co. now owns 24,160 shares of the company’s stock worth $1,768,000 after acquiring an additional 11,980 shares during the period. Ransom Advisory Ltd bought a new stake in shares of Carrier Global in the 1st quarter worth approximately $400,000. Nordea Investment Management AB lifted its stake in Carrier Global by 1.5% in the second quarter. Nordea Investment Management AB now owns 73,150 shares of the company’s stock valued at $5,369,000 after purchasing an additional 1,074 shares during the last quarter. US Bancorp DE lifted its stake in Carrier Global by 3.9% in the second quarter. US Bancorp DE now owns 529,191 shares of the company’s stock valued at $38,732,000 after purchasing an additional 19,976 shares during the last quarter. Finally, Aberdeen Group plc grew its holdings in Carrier Global by 1.8% during the first quarter. Aberdeen Group plc now owns 717,658 shares of the company’s stock valued at $44,854,000 after purchasing an additional 12,346 shares during the period. 91.00% of the stock is owned by institutional investors.

Carrier Global Trading Up 1.5%

Shares of Carrier Global stock opened at $57.42 on Friday. The company’s 50-day moving average price is $59.66 and its 200-day moving average price is $66.91. The company has a market cap of $48.36 billion, a price-to-earnings ratio of 12.85, a PEG ratio of 2.41 and a beta of 1.30. Carrier Global Corporation has a 12-month low of $54.22 and a 12-month high of $81.09. The company has a current ratio of 1.14, a quick ratio of 0.75 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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. Carrier Global had a return on equity of 16.65% and a net margin of 18.05%.The company had revenue of $5.58 billion for the quarter, compared to the consensus estimate of $5.65 billion. During the same quarter last year, the business posted $0.83 earnings per share. The firm’s 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, equities analysts expect that Carrier Global Corporation will post 2.99 earnings per share for the current fiscal year.

Carrier Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 18th. Investors of record on Wednesday, October 29th will be paid a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Wednesday, October 29th. Carrier Global’s dividend payout ratio (DPR) is currently 20.13%.

Carrier Global declared that its Board of Directors has approved a share buyback program on Tuesday, October 28th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 10.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several analysts have issued reports on CARR shares. Mizuho lowered their target price on Carrier Global from $80.00 to $75.00 and set an “outperform” rating on the stock in a research note on Friday, October 17th. Jefferies Financial Group restated a “buy” rating on shares of Carrier Global in a research note on Thursday, September 11th. Wells Fargo & Company dropped their price objective on shares of Carrier Global from $65.00 to $62.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 29th. Barclays reduced their target price on shares of Carrier Global from $82.00 to $74.00 and set an “overweight” rating for the company in a research note on Thursday, September 11th. Finally, The Goldman Sachs Group lowered their price target on shares of Carrier Global from $76.00 to $72.00 and set a “buy” rating on the stock in a research report on Wednesday, October 29th. Eleven equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $74.18.

Carrier Global 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.