Y Intercept Hong Kong Ltd Invests $11.12 Million in Carrier Global Corporation $CARR

Y Intercept Hong Kong Ltd purchased a new position in Carrier Global Corporation (NYSE:CARR) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 151,914 shares of the company’s stock, valued at approximately $11,119,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cobblestone Capital Advisors LLC NY boosted its position in Carrier Global by 6.5% during the second quarter. Cobblestone Capital Advisors LLC NY now owns 6,371 shares of the company’s stock worth $466,000 after purchasing an additional 389 shares in the last quarter. Bessemer Group Inc. raised its stake in shares of Carrier Global by 10.4% during the 2nd quarter. Bessemer Group Inc. now owns 31,767 shares of the company’s stock worth $2,325,000 after buying an additional 2,999 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Carrier Global in the 2nd quarter worth about $239,000. Envestnet Asset Management Inc. grew its stake in Carrier Global by 8.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 2,865,547 shares of the company’s stock valued at $209,729,000 after acquiring an additional 214,002 shares during the last quarter. Finally, Resonant Capital Advisors LLC increased its holdings in Carrier Global by 8.0% during the 2nd quarter. Resonant Capital Advisors LLC now owns 10,866 shares of the company’s stock valued at $795,000 after acquiring an additional 803 shares in the last quarter. 91.00% of the stock is owned by institutional investors and hedge funds.

Carrier Global Stock Up 1.4%

CARR stock opened at $57.92 on Monday. The stock has a market capitalization of $49.29 billion, a P/E ratio of 12.62, a PEG ratio of 1.90 and a beta of 1.25. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.80 and a current ratio of 1.17. Carrier Global Corporation has a one year low of $54.22 and a one year high of $81.09. The company has a 50 day moving average price of $61.29 and a two-hundred day moving average price of $67.01.

Carrier Global (NYSE:CARR) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. Carrier Global had a return on equity of 17.83% and a net margin of 18.33%.The company had revenue of $6.11 billion for the quarter, compared to analyst estimates of $6.08 billion. Carrier Global has set its FY 2025 guidance at 3.000-3.100 EPS. As a group, sell-side analysts expect that Carrier Global Corporation will post 2.99 EPS for the current year.

Carrier Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 18th. Investors of record on Wednesday, October 29th will be given a dividend of $0.225 per share. The ex-dividend date is Wednesday, October 29th. This represents a $0.90 annualized dividend and a yield of 1.6%. Carrier Global’s dividend payout ratio is 19.61%.

Analyst Ratings Changes

Several brokerages have issued reports on CARR. Royal Bank Of Canada reduced their price target on shares of Carrier Global from $87.00 to $75.00 and set an “outperform” rating on the stock in a report on Friday, September 12th. Zacks Research downgraded Carrier Global from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 14th. JPMorgan Chase & Co. lowered 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. The Goldman Sachs Group dropped their price target on Carrier Global from $88.00 to $76.00 and set a “buy” rating for the company in a research report on Friday, September 12th. Finally, Mizuho cut their price target on Carrier Global from $80.00 to $75.00 and set an “outperform” rating for the company in a report on Friday, October 17th. Eleven investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $75.67.

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.