Nicholas Company Inc. Invests $67.50 Million in Carrier Global Corporation $CARR

Nicholas Company Inc. purchased a new position in Carrier Global Corporation (NYSE:CARR) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 922,220 shares of the company’s stock, valued at approximately $67,497,000.

Other hedge funds have also recently modified their holdings of the company. AdvisorShares Investments LLC purchased a new position in shares of Carrier Global in the second quarter worth $25,000. REAP Financial Group LLC purchased a new position in shares of Carrier Global in the second quarter worth $29,000. Accredited Wealth Management LLC purchased a new position in shares of Carrier Global in the first quarter worth $28,000. Graybill Wealth Management LTD. purchased a new position in shares of Carrier Global in the first quarter worth $38,000. Finally, Cheviot Value Management LLC purchased a new position in shares of Carrier Global in the first quarter worth $38,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Up 1.1%

Carrier Global stock opened at $59.51 on Friday. The stock has a market cap of $50.12 billion, a PE ratio of 13.31, a price-to-earnings-growth ratio of 2.36 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 1.14. Carrier Global Corporation has a one year low of $54.22 and a one year high of $81.09. The stock has a fifty day moving average of $60.56 and a 200 day moving average of $66.98.

Carrier Global (NYSE:CARR) last posted its quarterly earnings data on Tuesday, October 28th. The company reported $0.67 EPS for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $5.65 billion. During the same quarter in the prior year, the business earned $0.83 earnings per share. Carrier Global’s revenue for the quarter 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. As a group, sell-side analysts predict that Carrier Global Corporation will post 2.99 EPS for the current year.

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

Carrier Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 18th. Shareholders of record on Wednesday, October 29th will be issued a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Wednesday, October 29th. Carrier Global’s payout ratio is currently 20.13%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Weiss Ratings restated a “buy (b-)” rating on shares of Carrier Global in a research note on Wednesday, October 8th. Robert W. Baird set a $72.00 price target on Carrier Global in a research note on Wednesday. The Goldman Sachs Group reduced their price objective on Carrier Global from $76.00 to $72.00 and set a “buy” rating for the company in a research report on Wednesday. Wells Fargo & Company reduced their price objective on Carrier Global from $65.00 to $62.00 and set an “equal weight” rating for the company in a research report on Wednesday. Finally, Oppenheimer reiterated a “market perform” rating on shares of Carrier Global in a research report on Wednesday. Eleven research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $74.18.

Carrier Global Company 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.