Sumitomo Mitsui Trust Group Inc. Has $109.36 Million Stock Position in Carrier Global Corporation $CARR

Sumitomo Mitsui Trust Group Inc. lowered its position in shares of Carrier Global Corporation (NYSE:CARR) by 0.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,831,847 shares of the company’s stock after selling 11,751 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.22% of Carrier Global worth $109,361,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CARR. AdvisorShares Investments LLC acquired a new stake in shares of Carrier Global in the second quarter worth $25,000. Winnow Wealth LLC acquired a new stake in Carrier Global during the 2nd quarter worth about $26,000. Twin Peaks Wealth Advisors LLC purchased a new position in Carrier Global during the 2nd quarter valued at about $26,000. Clayton Financial Group LLC purchased a new position in Carrier Global during the 3rd quarter valued at about $26,000. Finally, Traub Capital Management LLC acquired a new position in shares of Carrier Global in the 2nd quarter valued at about $27,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on CARR shares. Robert W. Baird set a $72.00 price target on shares of Carrier Global in a report on Wednesday, October 29th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Carrier Global in a research report on Monday, December 29th. Wolfe Research set a $74.00 target price on shares of Carrier Global in a research note on Tuesday, December 9th. The Goldman Sachs Group lowered their price target on shares of Carrier Global from $72.00 to $68.00 and set a “buy” rating on the stock in a report on Tuesday, December 16th. Finally, Oppenheimer reiterated a “market perform” rating on shares of Carrier Global in a report on Wednesday, October 29th. Ten research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $71.06.

Carrier Global Stock Performance

Shares of CARR opened at $55.17 on Wednesday. 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 Corporation has a 12 month low of $50.24 and a 12 month high of $81.09. The company’s fifty day moving average is $53.90 and its 200-day moving average is $61.36. The firm has a market cap of $46.47 billion, a price-to-earnings ratio of 12.34, a price-to-earnings-growth ratio of 2.20 and a beta of 1.31.

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. The firm had revenue of $5.58 billion during the quarter, compared to analysts’ expectations of $5.65 billion. Carrier Global had a net margin of 18.05% and a return on equity of 16.65%. Carrier Global’s revenue for the quarter was down 6.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.83 earnings per share. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. Equities analysts expect that Carrier Global Corporation will post 2.99 EPS for the current fiscal year.

Carrier Global Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 9th. Stockholders of record on Tuesday, January 20th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Tuesday, January 20th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.7%. This is a positive change from Carrier Global’s previous quarterly dividend of $0.23. Carrier Global’s payout ratio is currently 20.13%.

Carrier Global announced that its Board of Directors has initiated a share repurchase program on Tuesday, October 28th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 10.1% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership 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.