Vise Technologies Inc. Invests $1.55 Million in Carrier Global Corporation $CARR

Vise Technologies Inc. acquired a new stake in shares of Carrier Global Corporation (NYSE:CARR) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 21,181 shares of the company’s stock, valued at approximately $1,550,000.

Other institutional investors have also made changes to their positions in the company. Allworth Financial LP boosted its position in Carrier Global by 7.6% during the second quarter. Allworth Financial LP now owns 178,914 shares of the company’s stock worth $13,095,000 after purchasing an additional 12,603 shares during the period. Fidelis Capital Partners LLC lifted its stake in shares of Carrier Global by 6.4% in the second quarter. Fidelis Capital Partners LLC now owns 9,421 shares of the company’s stock worth $690,000 after buying an additional 565 shares during the last quarter. ProShare Advisors LLC boosted its holdings in shares of Carrier Global by 11.8% during the 2nd quarter. ProShare Advisors LLC now owns 137,011 shares of the company’s stock worth $10,028,000 after buying an additional 14,480 shares during the period. Profund Advisors LLC grew its stake in Carrier Global by 19.3% in the 2nd quarter. Profund Advisors LLC now owns 10,051 shares of the company’s stock valued at $736,000 after buying an additional 1,626 shares during the last quarter. Finally, PFG Advisors acquired a new position in Carrier Global in the 2nd quarter valued at $206,000. 91.00% of the stock is owned by institutional investors.

Carrier Global Trading Down 0.7%

Carrier Global stock opened at $56.92 on Wednesday. The business has a 50 day moving average price of $59.37 and a two-hundred day moving average price of $66.93. 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 $54.22 and a 12 month high of $81.09. The stock has a market cap of $47.94 billion, a price-to-earnings ratio of 12.73, a price-to-earnings-growth ratio of 2.40 and a beta of 1.30.

Carrier Global (NYSE:CARR) last released its quarterly earnings data on Tuesday, October 28th. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. The business had revenue of $5.58 billion for the quarter, compared to analysts’ expectations of $5.65 billion. Carrier Global had a return on equity of 16.65% and a net margin of 18.05%.Carrier Global’s quarterly revenue was down 6.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.83 earnings per share. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. As a group, equities analysts forecast that Carrier Global Corporation will post 2.99 EPS for the current year.

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

Carrier Global Dividend Announcement

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

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. cut their target price on shares of Carrier Global from $61.00 to $60.00 and set a “neutral” rating for the company in a research report on Friday, October 31st. Citigroup dropped their price objective on Carrier Global from $75.00 to $71.00 and set a “buy” rating on the stock in a research note on Wednesday, October 29th. Oppenheimer reissued a “market perform” rating on shares of Carrier Global in a research report on Wednesday, October 29th. Jefferies Financial Group restated a “buy” rating on shares of Carrier Global in a research note on Thursday, September 11th. Finally, Wolfe Research dropped their price target on Carrier Global from $76.00 to $75.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 29th. Eleven investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.18.

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.