Carrier Global Corporation $CARR Shares Bought by Primecap Management Co. CA

Primecap Management Co. CA lifted its position in shares of Carrier Global Corporation (NYSE:CARR) by 22.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,664,015 shares of the company’s stock after purchasing an additional 484,233 shares during the period. Primecap Management Co. CA’s holdings in Carrier Global were worth $194,979,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Costello Asset Management INC increased its stake in Carrier Global by 4.2% during the 2nd quarter. Costello Asset Management INC now owns 3,153 shares of the company’s stock worth $231,000 after buying an additional 127 shares during the period. Rehmann Capital Advisory Group grew its stake in shares of Carrier Global by 1.3% during the second quarter. Rehmann Capital Advisory Group now owns 12,083 shares of the company’s stock valued at $884,000 after acquiring an additional 150 shares in the last quarter. Penobscot Investment Management Company Inc. increased its position in shares of Carrier Global by 0.7% during the second quarter. Penobscot Investment Management Company Inc. now owns 20,833 shares of the company’s stock worth $1,525,000 after acquiring an additional 155 shares during the last quarter. Abacus Wealth Partners LLC lifted its stake in shares of Carrier Global by 4.3% in the second quarter. Abacus Wealth Partners LLC now owns 3,982 shares of the company’s stock worth $291,000 after acquiring an additional 165 shares in the last quarter. Finally, Kingsview Wealth Management LLC lifted its stake in shares of Carrier Global by 1.0% in the second quarter. Kingsview Wealth Management LLC now owns 17,110 shares of the company’s stock worth $1,252,000 after acquiring an additional 165 shares in the last quarter. 91.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CARR shares. Citigroup lowered their price objective on Carrier Global from $75.00 to $71.00 and set a “buy” rating for the company in a research note on Wednesday, October 29th. Oppenheimer reissued a “market perform” rating on shares of Carrier Global in a research report on Wednesday, October 29th. Royal Bank Of Canada dropped their price target on shares of Carrier Global from $87.00 to $75.00 and set an “outperform” rating for the company in a research note on Friday, September 12th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Carrier Global from $70.00 to $64.00 and set a “hold” rating on the stock in a research note on Wednesday, October 29th. Finally, Zacks Research downgraded shares of Carrier Global from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 14th. Nine 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. According to MarketBeat, Carrier Global currently has an average rating of “Hold” and an average price target of $72.94.

Carrier Global Stock Performance

Carrier Global stock opened at $51.25 on Thursday. 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 12 month low of $51.03 and a 12 month high of $81.09. The company has a fifty day moving average price of $58.14 and a two-hundred day moving average price of $66.43. The company has a market cap of $43.16 billion, a PE ratio of 11.47, a P/E/G ratio of 2.26 and a beta of 1.30.

Carrier Global (NYSE:CARR) last posted its quarterly earnings results on Tuesday, October 28th. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $5.65 billion. During the same period last year, the firm posted $0.83 EPS. The company’s revenue for the quarter was down 6.8% on a year-over-year basis. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. Research analysts expect that Carrier Global Corporation will post 2.99 earnings per share for the current year.

Carrier Global Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 18th. Shareholders of record on Wednesday, October 29th were paid a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Wednesday, October 29th. Carrier Global’s payout ratio is presently 20.13%.

Carrier Global announced that its Board of Directors has authorized a share repurchase program on Tuesday, October 28th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 10.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are 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.