Spirepoint Private Client LLC Boosts Stock Position in Carrier Global Corporation $CARR

Spirepoint Private Client LLC grew its holdings in shares of Carrier Global Corporation (NYSE:CARR) by 547.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,694 shares of the company’s stock after purchasing an additional 51,324 shares during the period. Spirepoint Private Client LLC’s holdings in Carrier Global were worth $3,623,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Robeco Institutional Asset Management B.V. increased its stake in Carrier Global by 397.8% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 279,490 shares of the company’s stock worth $16,686,000 after buying an additional 223,341 shares during the period. Letson Investment Management Inc. increased its position in shares of Carrier Global by 0.7% during the third quarter. Letson Investment Management Inc. now owns 106,118 shares of the company’s stock worth $6,335,000 after acquiring an additional 755 shares during the period. InTrack Investment Management Inc raised its stake in shares of Carrier Global by 7.7% in the third quarter. InTrack Investment Management Inc now owns 20,967 shares of the company’s stock valued at $1,252,000 after acquiring an additional 1,490 shares in the last quarter. Penobscot Investment Management Company Inc. boosted its holdings in Carrier Global by 2.7% in the third quarter. Penobscot Investment Management Company Inc. now owns 21,390 shares of the company’s stock valued at $1,277,000 after purchasing an additional 557 shares during the period. Finally, Proffitt & Goodson Inc. boosted its stake in shares of Carrier Global by 3.5% in the 3rd quarter. Proffitt & Goodson Inc. now owns 8,943 shares of the company’s stock valued at $534,000 after buying an additional 299 shares during the period. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on CARR shares. Royal Bank Of Canada lowered their price target on shares of Carrier Global from $75.00 to $70.00 and set an “outperform” rating for the company in a report on Friday, December 5th. Mizuho lowered their target price on shares of Carrier Global from $75.00 to $67.00 and set an “outperform” rating for the company in a research note on Monday. Citigroup dropped their target price on Carrier Global from $75.00 to $71.00 and set a “buy” rating on the stock in a report on Wednesday, October 29th. UBS Group decreased their price target on Carrier Global from $73.00 to $70.00 and set a “buy” rating for the company in a report on Monday. Finally, Barclays dropped their price objective on Carrier Global from $74.00 to $72.00 and set an “overweight” rating on the stock in a report on Wednesday, December 10th. Ten investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $71.41.

Carrier Global Stock Performance

NYSE CARR opened at $53.78 on Tuesday. The company has a fifty day moving average of $54.43 and a two-hundred day moving average of $62.11. The company has a market capitalization of $45.29 billion, a PE ratio of 12.03, a P/E/G ratio of 2.12 and a beta of 1.31. Carrier Global Corporation has a 1 year low of $50.30 and a 1 year high of $81.09. 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 (NYSE:CARR) last posted its earnings results on Tuesday, October 28th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.10. The business had revenue of $5.58 billion during the quarter, compared to the consensus estimate of $5.65 billion. Carrier Global had a return on equity of 16.65% and a net margin of 18.05%.The business’s quarterly revenue was down 6.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.83 EPS. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. As a group, analysts expect that Carrier Global Corporation will post 2.99 earnings per share for the current year.

Carrier Global Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 9th. Stockholders 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 is an increase from Carrier Global’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a dividend yield of 1.8%. Carrier Global’s dividend payout ratio is currently 21.48%.

Carrier Global announced that its board has approved a stock repurchase plan on Tuesday, October 28th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the company to reacquire up to 10.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

About Carrier Global

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.