Varma Mutual Pension Insurance Co Increases Position in Carrier Global Corporation $CARR

Varma Mutual Pension Insurance Co boosted its holdings in shares of Carrier Global Corporation (NYSE:CARR) by 37.0% during the third quarter, HoldingsChannel.com reports. The firm owned 232,909 shares of the company’s stock after purchasing an additional 62,900 shares during the period. Varma Mutual Pension Insurance Co’s holdings in Carrier Global were worth $13,905,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Caisse Des Depots ET Consignations lifted its position in shares of Carrier Global by 1.8% during the 3rd quarter. Caisse Des Depots ET Consignations now owns 53,583 shares of the company’s stock valued at $3,199,000 after buying an additional 947 shares in the last quarter. Savvy Advisors Inc. raised its position in Carrier Global by 53.3% during the third quarter. Savvy Advisors Inc. now owns 7,104 shares of the company’s stock worth $424,000 after acquiring an additional 2,471 shares during the period. Cibc World Market Inc. lifted its holdings in Carrier Global by 31.7% during the third quarter. Cibc World Market Inc. now owns 138,894 shares of the company’s stock valued at $8,292,000 after purchasing an additional 33,445 shares in the last quarter. Caprock Group LLC purchased a new position in Carrier Global during the third quarter valued at $1,363,000. Finally, ING Groep NV acquired a new stake in shares of Carrier Global in the third quarter valued at about $11,445,000. 91.00% of the stock is owned by institutional investors and hedge funds.

Carrier Global Price Performance

Carrier Global stock opened at $64.95 on Friday. The company has a current ratio of 1.20, a quick ratio of 0.85 and a debt-to-equity ratio of 0.80. The company has a 50-day moving average price of $56.36 and a 200 day moving average price of $59.07. Carrier Global Corporation has a 12-month low of $50.24 and a 12-month high of $81.09. The stock has a market cap of $54.29 billion, a P/E ratio of 37.98, a PEG ratio of 2.69 and a beta of 1.33.

Carrier Global (NYSE:CARR) last posted its quarterly earnings results on Thursday, February 5th. The company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.02). Carrier Global had a net margin of 6.82% and a return on equity of 15.30%. The firm had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $5.05 billion. During the same period last year, the company earned $0.54 EPS. The business’s quarterly revenue was down 6.0% on a year-over-year basis. Carrier Global has set its FY 2026 guidance at 2.800-2.800 EPS. Sell-side analysts anticipate that Carrier Global Corporation will post 2.99 earnings per share for the current year.

Carrier Global announced that its Board of Directors has initiated a share repurchase plan on Tuesday, October 28th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 10.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Carrier Global Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 9th. Shareholders of record on Tuesday, January 20th were given a dividend of $0.24 per share. This is a boost from Carrier Global’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Tuesday, January 20th. Carrier Global’s dividend payout ratio (DPR) is 56.14%.

Analyst Ratings Changes

Several research firms recently weighed in on CARR. Robert W. Baird upped their price target on shares of Carrier Global from $66.00 to $72.00 and gave the stock an “outperform” rating in a research report on Friday, February 6th. Deutsche Bank Aktiengesellschaft lowered their target price 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. UBS Group dropped their target price on shares of Carrier Global from $73.00 to $70.00 and set a “buy” rating for the company in a report on Monday, January 5th. JPMorgan Chase & Co. raised their price target on shares of Carrier Global from $60.00 to $63.00 and gave the stock a “neutral” rating in a research note on Friday, January 16th. Finally, Morgan Stanley set a $55.00 target price on shares of Carrier Global in a research note on Thursday, January 8th. Twelve equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Carrier Global has a consensus rating of “Moderate Buy” and an average price target of $70.60.

Carrier Global Company Profile

Carrier Global Corporation is a leading global provider of heating, ventilation and air conditioning (HVAC), refrigeration, fire and security, and building automation solutions. The company designs, manufactures and sells a broad portfolio of products that includes air conditioners, furnaces, heat pumps, chillers, rooftop units, commercial refrigeration systems, fire and smoke detection and suppression systems, security sensors and access controls, and a range of building controls and analytics software.