Auto Owners Insurance Co Has $936,000 Holdings in Carrier Global Corporation $CARR

Auto Owners Insurance Co raised its position in Carrier Global Corporation (NYSE:CARR) by 552.7% in the second quarter, HoldingsChannel reports. The fund owned 12,787 shares of the company’s stock after purchasing an additional 10,828 shares during the quarter. Auto Owners Insurance Co’s holdings in Carrier Global were worth $936,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in CARR. Brighton Jones LLC grew its stake in Carrier Global by 30.3% in the fourth quarter. Brighton Jones LLC now owns 7,958 shares of the company’s stock valued at $543,000 after acquiring an additional 1,850 shares during the period. Robeco Institutional Asset Management B.V. grew its stake in Carrier Global by 137.4% in the first quarter. Robeco Institutional Asset Management B.V. now owns 39,923 shares of the company’s stock valued at $2,531,000 after acquiring an additional 23,105 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in Carrier Global by 12.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 95,839 shares of the company’s stock valued at $6,069,000 after acquiring an additional 10,660 shares during the period. Golden State Wealth Management LLC grew its stake in Carrier Global by 51.8% in the first quarter. Golden State Wealth Management LLC now owns 1,389 shares of the company’s stock valued at $88,000 after acquiring an additional 474 shares during the period. Finally, Ameritas Advisory Services LLC grew its stake in Carrier Global by 299.4% in the first quarter. Ameritas Advisory Services LLC now owns 15,184 shares of the company’s stock valued at $970,000 after acquiring an additional 11,382 shares during the period. Institutional investors and hedge funds own 91.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft dropped their target price on Carrier Global from $73.00 to $70.00 and set a “hold” rating on the stock in a report on Tuesday, September 23rd. Melius assumed coverage on Carrier Global in a report on Tuesday, July 1st. They issued a “hold” rating and a $90.00 target price on the stock. JPMorgan Chase & Co. dropped their target price on Carrier Global from $76.00 to $61.00 and set a “neutral” rating on the stock in a report on Wednesday, October 15th. Barclays dropped their target price on Carrier Global from $82.00 to $74.00 and set an “overweight” rating on the stock in a report on Thursday, September 11th. Finally, Zacks Research lowered Carrier Global from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 14th. Eleven analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Carrier Global has a consensus rating of “Moderate Buy” and an average price target of $75.41.

Carrier Global Stock Performance

Shares of Carrier Global stock opened at $58.82 on Wednesday. The business’s fifty day simple moving average is $60.96 and its 200 day simple moving average is $66.99. The firm has a market capitalization of $50.06 billion, a P/E ratio of 12.82, a price-to-earnings-growth ratio of 1.91 and a beta of 1.25. 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 1.17, a quick ratio of 0.80 and a debt-to-equity ratio of 0.76.

Carrier Global (NYSE:CARR) last issued its quarterly earnings results on Tuesday, October 28th. The company reported $0.67 EPS for the quarter, hitting analysts’ consensus estimates of $0.67. The business had revenue of $5.58 billion for the quarter, compared to analyst estimates of $5.65 billion. Carrier Global had a return on equity of 17.83% and a net margin of 18.33%.Carrier Global’s quarterly revenue was down 6.8% compared to the same quarter last year. During the same period last year, the company posted $0.83 earnings per share. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. As a group, analysts anticipate that Carrier Global Corporation will post 2.99 EPS for the current year.

Carrier Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 18th. Investors of record on Wednesday, October 29th will be issued a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Wednesday, October 29th. Carrier Global’s dividend payout ratio (DPR) is 19.61%.

Carrier Global announced that its Board of Directors has initiated a stock buyback plan on Tuesday, October 28th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 10.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

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.