South Dakota Investment Council Reduces Position in Carrier Global Corporation $CARR

South Dakota Investment Council cut its holdings in shares of Carrier Global Corporation (NYSE:CARR) by 14.0% during the 2nd quarter, Holdings Channel.com reports. The firm owned 26,313 shares of the company’s stock after selling 4,281 shares during the quarter. South Dakota Investment Council’s holdings in Carrier Global were worth $1,926,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Aurdan Capital Management LLC purchased a new stake in Carrier Global during the second quarter valued at about $215,000. iA Global Asset Management Inc. lifted its holdings in shares of Carrier Global by 9.3% in the second quarter. iA Global Asset Management Inc. now owns 530,998 shares of the company’s stock worth $38,864,000 after buying an additional 45,000 shares in the last quarter. Nicholas Company Inc. purchased a new stake in shares of Carrier Global in the second quarter worth about $67,497,000. Versor Investments LP lifted its holdings in shares of Carrier Global by 122.5% in the second quarter. Versor Investments LP now owns 10,800 shares of the company’s stock worth $790,000 after buying an additional 5,947 shares in the last quarter. Finally, Plato Investment Management Ltd lifted its holdings in shares of Carrier Global by 121.8% in the second quarter. Plato Investment Management Ltd now owns 12,349 shares of the company’s stock worth $901,000 after buying an additional 6,781 shares in the last quarter. 91.00% of the stock is owned by hedge funds and other institutional investors.

Carrier Global Trading Down 2.8%

Shares of CARR opened at $57.84 on Tuesday. The firm’s 50 day simple moving average is $60.39 and its 200 day simple moving average is $67.02. The company has a market capitalization of $48.72 billion, a P/E ratio of 12.94, a P/E/G ratio of 2.36 and a beta of 1.30. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.14 and a quick ratio of 0.75. Carrier Global Corporation has a 1-year low of $54.22 and a 1-year high of $81.09.

Carrier Global (NYSE:CARR) last announced its earnings results on Tuesday, October 28th. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. The business had revenue of $5.58 billion for the quarter, compared to the consensus estimate of $5.65 billion. Carrier Global had a net margin of 18.05% and a return on equity of 16.65%. Carrier Global’s quarterly revenue was down 6.8% on a year-over-year basis. During the same period last year, the firm posted $0.83 earnings per share. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. Sell-side analysts forecast that Carrier Global Corporation will post 2.99 earnings per share for the current fiscal year.

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

Carrier Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 18th. Investors 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 yield of 1.6%. The ex-dividend date of this dividend is Wednesday, October 29th. Carrier Global’s dividend payout ratio (DPR) is currently 20.13%.

Wall Street Analysts Forecast Growth

CARR has been the topic of a number of recent analyst reports. Morgan Stanley lowered their price target on shares of Carrier Global from $75.00 to $60.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 14th. Weiss Ratings reissued a “buy (b-)” rating on shares of Carrier Global in a report on Wednesday, October 8th. Royal Bank Of Canada lowered 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. Oppenheimer reissued a “market perform” rating on shares of Carrier Global in a report on Wednesday, October 29th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Carrier Global from $61.00 to $60.00 and set a “neutral” rating on the stock in a report on Friday. Eleven equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average 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.