Carrier Global Corporation $CARR Shares Sold by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp lessened its holdings in Carrier Global Corporation (NYSE:CARR) by 29.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 71,884 shares of the company’s stock after selling 29,777 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Carrier Global were worth $5,261,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of CARR. Vanguard Group Inc. increased its holdings in shares of Carrier Global by 0.5% in the 2nd quarter. Vanguard Group Inc. now owns 93,373,143 shares of the company’s stock valued at $6,833,980,000 after acquiring an additional 450,594 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Carrier Global by 23.8% in the second quarter. JPMorgan Chase & Co. now owns 38,536,301 shares of the company’s stock valued at $2,820,485,000 after purchasing an additional 7,409,432 shares in the last quarter. Fisher Asset Management LLC increased its stake in Carrier Global by 3.1% in the second quarter. Fisher Asset Management LLC now owns 15,048,555 shares of the company’s stock valued at $1,101,404,000 after purchasing an additional 448,055 shares during the last quarter. Brown Advisory Inc. raised its holdings in Carrier Global by 6.3% during the second quarter. Brown Advisory Inc. now owns 10,281,880 shares of the company’s stock worth $752,533,000 after purchasing an additional 607,901 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Carrier Global during the 2nd quarter worth approximately $524,939,000. 91.00% of the stock is owned by hedge funds and other institutional investors.

Carrier Global Price Performance

Shares of CARR opened at $52.38 on Thursday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.75 and a current ratio of 1.14. Carrier Global Corporation has a fifty-two week low of $50.30 and a fifty-two week high of $81.09. The firm has a 50-day simple moving average of $55.50 and a 200-day simple moving average of $63.79. The company has a market capitalization of $44.12 billion, a price-to-earnings ratio of 11.72, a price-to-earnings-growth ratio of 2.32 and a beta of 1.30.

Carrier Global (NYSE:CARR) last posted its quarterly earnings data on Tuesday, October 28th. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.57 by $0.10. Carrier Global had a return on equity of 16.65% and a net margin of 18.05%.The firm had revenue of $5.58 billion during the quarter, compared to the consensus estimate of $5.65 billion. During the same period in the prior year, the business earned $0.83 EPS. 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 research analysts anticipate that Carrier Global Corporation will post 2.99 earnings per share for the current year.

Carrier Global Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 9th. Investors of record on Tuesday, January 20th will be issued a dividend of $0.24 per share. This is a boost from Carrier Global’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Tuesday, January 20th. Carrier Global’s dividend payout ratio is 20.13%.

Carrier Global declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, October 28th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 10.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on CARR shares. The Goldman Sachs Group dropped their target price on shares of Carrier Global from $72.00 to $68.00 and set a “buy” rating on the stock in a research report on Tuesday. Wells Fargo & Company decreased their price objective on shares of Carrier Global from $62.00 to $59.00 and set an “equal weight” rating for the company in a research note on Thursday, December 4th. Royal Bank Of Canada cut their target price on Carrier Global from $75.00 to $70.00 and set an “outperform” rating on the stock in a research report on Friday, December 5th. Weiss Ratings reissued a “hold (c+)” rating on shares of Carrier Global in a research report on Monday. Finally, Barclays cut their price target on Carrier Global from $74.00 to $72.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 10th. Nine analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $72.00.

Carrier Global Company 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.