KBC Group NV Raises Holdings in Carrier Global Corporation $CARR

KBC Group NV raised its holdings in shares of Carrier Global Corporation (NYSE:CARR) by 2.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 157,047 shares of the company’s stock after purchasing an additional 3,498 shares during the quarter. KBC Group NV’s holdings in Carrier Global were worth $11,494,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its holdings in Carrier Global by 17.6% during the 1st quarter. JPMorgan Chase & Co. now owns 31,126,869 shares of the company’s stock worth $1,973,444,000 after purchasing an additional 4,668,929 shares in the last quarter. Nuveen LLC bought a new stake in shares of Carrier Global during the first quarter valued at about $649,512,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Carrier Global by 0.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 6,968,294 shares of the company’s stock valued at $441,790,000 after buying an additional 38,233 shares during the period. PineStone Asset Management Inc. lifted its holdings in shares of Carrier Global by 12.8% in the second quarter. PineStone Asset Management Inc. now owns 5,300,483 shares of the company’s stock worth $387,942,000 after buying an additional 601,967 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of Carrier Global by 2.1% in the first quarter. Invesco Ltd. now owns 5,165,203 shares of the company’s stock valued at $327,474,000 after acquiring an additional 108,055 shares during the period. 91.00% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CARR has been the topic of a number of analyst reports. Morgan Stanley decreased their target price 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. JPMorgan Chase & Co. reduced their price target on shares of Carrier Global from $61.00 to $60.00 and set a “neutral” rating for the company in a research report on Friday, October 31st. Rothschild & Co Redburn increased their price objective on Carrier Global from $66.00 to $67.00 in a research report on Thursday, October 30th. Jefferies Financial Group reissued a “buy” rating on shares of Carrier Global in a research note on Thursday, September 11th. Finally, Barclays decreased their target price on Carrier Global from $82.00 to $74.00 and set an “overweight” rating on the stock in a research note on Thursday, September 11th. Ten analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Carrier Global currently has an average rating of “Hold” and a consensus target price of $72.94.

Carrier Global Stock Down 2.2%

CARR opened at $53.97 on Friday. The business’s fifty day simple moving average is $58.84 and its 200 day simple moving average is $66.72. Carrier Global Corporation has a 52 week low of $53.96 and a 52 week high of $81.09. The company has a quick ratio of 0.75, a current ratio of 1.14 and a debt-to-equity ratio of 0.76. The stock has a market cap of $45.46 billion, a PE ratio of 12.07, a P/E/G ratio of 2.31 and a beta of 1.30.

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 the consensus estimate of $0.57 by $0.10. The firm had revenue of $5.58 billion during the quarter, compared to analyst estimates of $5.65 billion. Carrier Global had a return on equity of 16.65% and a net margin of 18.05%.The company’s revenue was down 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.83 earnings per share. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. As a group, research analysts expect that Carrier Global Corporation will post 2.99 earnings per share for the current fiscal year.

Carrier Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 18th. Shareholders of record on Wednesday, October 29th will be paid a $0.225 dividend. The ex-dividend date of this dividend is Wednesday, October 29th. This represents a $0.90 annualized dividend and a yield of 1.7%. Carrier Global’s dividend payout ratio is currently 20.13%.

Carrier Global declared that its board has approved a stock repurchase program 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 shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

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.