Panagora Asset Management Inc. Has $1.85 Million Holdings in Carrier Global Corporation $CARR

Panagora Asset Management Inc. increased its holdings in shares of Carrier Global Corporation (NYSE:CARR) by 111.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,319 shares of the company’s stock after acquiring an additional 13,318 shares during the period. Panagora Asset Management Inc.’s holdings in Carrier Global were worth $1,853,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Nuveen LLC acquired a new stake in shares of Carrier Global in the first quarter valued at $649,512,000. JPMorgan Chase & Co. lifted its position in Carrier Global by 23.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 38,536,301 shares of the company’s stock worth $2,820,485,000 after buying an additional 7,409,432 shares in the last quarter. Norges Bank bought a new stake in Carrier Global during the 2nd quarter worth about $524,939,000. Artisan Partners Limited Partnership increased its position in Carrier Global by 63.6% in the 2nd quarter. Artisan Partners Limited Partnership now owns 4,952,738 shares of the company’s stock valued at $362,491,000 after acquiring an additional 1,924,804 shares in the last quarter. Finally, Alliancebernstein L.P. raised its stake in shares of Carrier Global by 61.9% in the first quarter. Alliancebernstein L.P. now owns 4,318,806 shares of the company’s stock worth $273,812,000 after acquiring an additional 1,651,873 shares during the last quarter. Institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Down 0.3%

CARR opened at $54.47 on Friday. Carrier Global Corporation has a 1-year low of $50.30 and a 1-year high of $81.09. The stock’s fifty day simple moving average is $56.60 and its 200 day simple moving average is $65.04. The company has a current ratio of 1.14, a quick ratio of 0.75 and a debt-to-equity ratio of 0.76. The stock has a market cap of $45.87 billion, a PE ratio of 12.19, a price-to-earnings-growth ratio of 2.37 and a beta of 1.30.

Carrier Global (NYSE:CARR) last released its quarterly earnings data on Tuesday, October 28th. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.57 by $0.10. The firm 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%. The company’s quarterly revenue was down 6.8% on a year-over-year basis. During the same period in the previous year, the company earned $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 year.

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

Carrier Global Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 9th. Shareholders of record on Tuesday, January 20th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Tuesday, January 20th. This represents a $0.96 annualized dividend and a yield of 1.8%. This is an increase from Carrier Global’s previous quarterly dividend of $0.23. Carrier Global’s payout ratio is currently 20.13%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CARR shares. Wolfe Research dropped their price target on shares of Carrier Global from $76.00 to $75.00 and set an “outperform” rating for the company in a research note on Wednesday, October 29th. Zacks Research raised shares of Carrier Global from a “strong sell” rating to a “hold” rating in a research note on Friday, November 21st. Rothschild & Co Redburn raised their price target on shares of Carrier Global from $66.00 to $67.00 in a research note on Thursday, October 30th. Oppenheimer reaffirmed a “market perform” rating on shares of Carrier Global in a research report on Wednesday, October 29th. Finally, Royal Bank Of Canada reduced their price objective 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. Nine analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Carrier Global currently has a consensus rating of “Hold” and a consensus target price of $72.75.

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.