Robeco Institutional Asset Management B.V. Boosts Stake in Carrier Global Corporation $CARR

Robeco Institutional Asset Management B.V. boosted its holdings in shares of Carrier Global Corporation (NYSE:CARR) by 397.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 279,490 shares of the company’s stock after acquiring an additional 223,341 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Carrier Global were worth $16,686,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CARR. JPMorgan Chase & Co. boosted its holdings in shares of Carrier Global by 23.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 38,536,301 shares of the company’s stock worth $2,820,485,000 after purchasing an additional 7,409,432 shares during the last quarter. Norges Bank purchased a new position in Carrier Global during the second quarter worth approximately $524,939,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in Carrier Global by 1,742.8% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,623,000 shares of the company’s stock worth $265,167,000 after buying an additional 3,426,395 shares during the last quarter. Artisan Partners Limited Partnership raised its holdings in shares of Carrier Global by 63.6% during the 2nd quarter. Artisan Partners Limited Partnership now owns 4,952,738 shares of the company’s stock worth $362,491,000 after acquiring an additional 1,924,804 shares during the period. Finally, Soundwatch Capital LLC acquired a new position in shares of Carrier Global during the 2nd quarter valued at about $1,074,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Stock Up 2.4%

Carrier Global stock opened at $53.84 on Friday. The company has a market capitalization of $45.35 billion, a PE ratio of 12.05, a price-to-earnings-growth ratio of 2.08 and a beta of 1.31. 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 $50.24 and a fifty-two week high of $81.09. The firm has a 50 day moving average price of $54.06 and a 200 day moving average price of $61.87.

Carrier Global (NYSE:CARR) last released its quarterly earnings results on Tuesday, October 28th. The company reported $0.67 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 analysts’ expectations of $5.65 billion. During the same period in the prior year, the firm earned $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. Research analysts expect that Carrier Global Corporation will post 2.99 earnings per share for the current year.

Carrier Global declared that its board has approved a stock buyback plan on Tuesday, October 28th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the company to buy up to 10.1% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Carrier Global Increases Dividend

The company also recently announced 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 positive change from Carrier Global’s previous quarterly dividend of $0.23. The ex-dividend date is Tuesday, January 20th. This represents a $0.96 dividend on an annualized basis and a yield of 1.8%. Carrier Global’s dividend payout ratio (DPR) is 21.48%.

Analyst Upgrades and Downgrades

CARR has been the topic of a number of analyst reports. Robert W. Baird set a $72.00 target price on shares of Carrier Global in a research note on Wednesday, October 29th. Oppenheimer reaffirmed a “market perform” rating on shares of Carrier Global in a research report on Wednesday, October 29th. Wells Fargo & Company decreased their price objective on Carrier Global from $62.00 to $59.00 and set an “equal weight” rating on the stock in a report on Thursday, December 4th. Mizuho cut their target price on Carrier Global from $75.00 to $67.00 and set an “outperform” rating for the company in a research note on Monday. Finally, UBS Group reduced their target price on Carrier Global from $73.00 to $70.00 and set a “buy” rating on the stock in a research report on Monday. Ten investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, Carrier Global has an average rating of “Moderate Buy” and an average price target of $71.12.

About Carrier Global

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.