DNB Asset Management AS Has $15.20 Million Stake in Carrier Global Corporation $CARR

DNB Asset Management AS reduced its stake in shares of Carrier Global Corporation (NYSE:CARR) by 0.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 207,647 shares of the company’s stock after selling 1,170 shares during the quarter. DNB Asset Management AS’s holdings in Carrier Global were worth $15,198,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. AdvisorShares Investments LLC acquired a new stake in shares of Carrier Global during the 2nd quarter worth about $25,000. Winnow Wealth LLC acquired a new position in Carrier Global in the second quarter valued at about $26,000. Traub Capital Management LLC bought a new stake in Carrier Global during the second quarter worth about $27,000. Accredited Wealth Management LLC acquired a new stake in shares of Carrier Global during the first quarter worth approximately $28,000. Finally, REAP Financial Group LLC bought a new position in shares of Carrier Global in the second quarter valued at approximately $29,000. 91.00% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Wolfe Research decreased their price target on Carrier Global from $76.00 to $75.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 29th. Deutsche Bank Aktiengesellschaft decreased their target price on Carrier Global from $70.00 to $64.00 and set a “hold” rating on the stock in a report on Wednesday, October 29th. Rothschild & Co Redburn lifted their price target on Carrier Global from $66.00 to $67.00 in a report on Thursday, October 30th. Mizuho reduced their price target on shares of Carrier Global from $80.00 to $75.00 and set an “outperform” rating on the stock in a research report on Friday, October 17th. Finally, Jefferies Financial Group restated a “buy” rating on shares of Carrier Global in a research report on Thursday, September 11th. Nine investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $72.94.

Carrier Global Stock Performance

Shares of NYSE:CARR opened at $52.36 on Friday. The stock has a market capitalization of $44.10 billion, a P/E ratio of 11.71, a P/E/G ratio of 2.18 and a beta of 1.30. The company has a current ratio of 1.14, a quick ratio of 0.75 and a debt-to-equity ratio of 0.76. Carrier Global Corporation has a 1-year low of $50.30 and a 1-year high of $81.09. The business has a 50-day moving average price of $57.71 and a two-hundred day moving average price of $66.19.

Carrier Global (NYSE:CARR) last issued its quarterly earnings results on Tuesday, October 28th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.57 by $0.10. Carrier Global had a net margin of 18.05% and a return on equity of 16.65%. 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 previous year, the company earned $0.83 EPS. Carrier Global’s revenue was down 6.8% on a year-over-year basis. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. Equities analysts predict that Carrier Global Corporation will post 2.99 earnings per share for the current year.

Carrier Global Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 18th. Stockholders of record on Wednesday, October 29th were paid a $0.225 dividend. The ex-dividend date of this dividend was Wednesday, October 29th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.7%. Carrier Global’s dividend payout ratio is 20.13%.

Carrier Global announced that its Board of Directors has approved a share repurchase program on Tuesday, October 28th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 10.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are 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.