7,172,279 Shares in Carrier Global Corporation $CARR Acquired by Norges Bank

Norges Bank bought a new position in shares of Carrier Global Corporation (NYSE:CARR) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 7,172,279 shares of the company’s stock, valued at approximately $524,939,000. Norges Bank owned about 0.84% of Carrier Global as of its most recent SEC filing.

Several other large investors have also modified their holdings of CARR. AdvisorShares Investments LLC acquired a new stake in shares of Carrier Global during the 2nd quarter worth about $25,000. Winnow Wealth LLC acquired a new position in Carrier Global in the second quarter valued at about $26,000. Traub Capital Management LLC purchased a new position in Carrier Global during the second quarter worth about $27,000. REAP Financial Group LLC acquired a new stake in shares of Carrier Global during the second quarter valued at about $29,000. Finally, Accredited Wealth Management LLC acquired a new stake in shares of Carrier Global during the first quarter valued at about $28,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Stock Up 1.0%

CARR stock opened at $54.90 on Friday. The company’s 50 day moving average price is $57.02 and its 200 day moving average price is $65.53. The firm has a market capitalization of $46.24 billion, a price-to-earnings ratio of 12.28, a PEG ratio of 2.38 and a beta of 1.30. Carrier Global Corporation has a fifty-two week low of $50.30 and a fifty-two week high of $81.09. 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 (NYSE:CARR) last issued its quarterly earnings results 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. Carrier Global had a net margin of 18.05% and a return on equity of 16.65%. The company had revenue of $5.58 billion during the quarter, compared to the consensus estimate of $5.65 billion. During the same quarter in the previous year, the firm earned $0.83 earnings per share. The firm’s quarterly revenue was down 6.8% on a year-over-year basis. 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 EPS for the current fiscal year.

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

Carrier Global Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 18th. Investors of record on Wednesday, October 29th were paid a dividend of $0.225 per share. The ex-dividend date was Wednesday, October 29th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.6%. Carrier Global’s payout ratio is presently 20.13%.

Analyst Upgrades and Downgrades

CARR has been the topic of several recent analyst reports. Weiss Ratings restated a “hold (c+)” rating on shares of Carrier Global in a report on Monday, November 24th. JPMorgan Chase & Co. cut their target price on Carrier Global from $61.00 to $60.00 and set a “neutral” rating on the stock in a research report on Friday, October 31st. Zacks Research upgraded Carrier Global from a “strong sell” rating to a “hold” rating in a research note on Friday, November 21st. Wolfe Research lowered their price target on Carrier Global from $76.00 to $75.00 and set an “outperform” rating for the company in a research report on Wednesday, October 29th. Finally, The Goldman Sachs Group cut their price objective on Carrier Global from $76.00 to $72.00 and set a “buy” rating on the stock in a report on Wednesday, October 29th. Nine analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $72.94.

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.