MQS Management LLC Invests $218,000 in Carrier Global Corporation $CARR

MQS Management LLC acquired a new stake in shares of Carrier Global Corporation (NYSE:CARR) in the second quarter, HoldingsChannel reports. The institutional investor acquired 2,977 shares of the company’s stock, valued at approximately $218,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CARR. Nuveen LLC bought a new position in Carrier Global during the 1st quarter valued at approximately $649,512,000. JPMorgan Chase & Co. increased its position in Carrier Global by 17.6% during the 1st quarter. JPMorgan Chase & Co. now owns 31,126,869 shares of the company’s stock valued at $1,973,444,000 after buying an additional 4,668,929 shares in the last quarter. Brown Advisory Inc. increased its position in Carrier Global by 82.6% during the 1st quarter. Brown Advisory Inc. now owns 9,673,979 shares of the company’s stock valued at $613,330,000 after buying an additional 4,377,402 shares in the last quarter. Alliancebernstein L.P. increased its position in Carrier Global by 61.9% during the 1st quarter. Alliancebernstein L.P. now owns 4,318,806 shares of the company’s stock valued at $273,812,000 after buying an additional 1,651,873 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in Carrier Global by 23.5% during the 1st quarter. Victory Capital Management Inc. now owns 4,512,774 shares of the company’s stock valued at $286,110,000 after buying an additional 857,694 shares in the last quarter. Institutional investors own 91.00% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on CARR. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Carrier Global in a research report on Wednesday, October 8th. Wolfe Research reduced their target price on Carrier Global from $77.00 to $76.00 and set an “outperform” rating for the company in a report on Wednesday, October 8th. Melius assumed coverage on Carrier Global in a report on Tuesday, July 1st. They issued a “hold” rating and a $90.00 target price for the company. Citigroup reduced their target price on Carrier Global from $89.00 to $75.00 and set a “buy” rating for the company in a report on Friday, September 12th. Finally, JPMorgan Chase & Co. reduced their target price on Carrier Global from $76.00 to $61.00 and set a “neutral” rating for the company in a report on Wednesday, October 15th. Eleven investment 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. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $75.41.

Carrier Global Stock Performance

CARR stock opened at $58.82 on Wednesday. The company has a market cap 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 1 year low of $54.22 and a 1 year high of $81.09. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.17 and a quick ratio of 0.80. The stock’s fifty day moving average price is $60.96 and its 200-day moving average price is $66.99.

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

Carrier Global Announces Dividend

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

Carrier Global declared that its board has initiated a share buyback program 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 programs are often an indication that the company’s board of directors believes its stock is undervalued.

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.