Oregon Public Employees Retirement Fund Grows Position in Carrier Global Corporation $CARR

Oregon Public Employees Retirement Fund raised its holdings in Carrier Global Corporation (NYSE:CARR) by 32.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 91,379 shares of the company’s stock after acquiring an additional 22,511 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Carrier Global were worth $5,455,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Spirepoint Private Client LLC boosted its position in Carrier Global by 547.7% during the third quarter. Spirepoint Private Client LLC now owns 60,694 shares of the company’s stock worth $3,623,000 after acquiring an additional 51,324 shares during the last quarter. Oak Thistle LLC acquired a new position in Carrier Global in the 3rd quarter valued at $1,986,000. Foster Victor Wealth Advisors LLC lifted its stake in shares of Carrier Global by 24.1% during the 3rd quarter. Foster Victor Wealth Advisors LLC now owns 216,777 shares of the company’s stock worth $12,931,000 after purchasing an additional 42,161 shares during the period. Triasima Portfolio Management inc. acquired a new stake in shares of Carrier Global during the second quarter worth $1,421,000. Finally, Brookstone Capital Management grew its position in shares of Carrier Global by 220.8% in the third quarter. Brookstone Capital Management now owns 51,852 shares of the company’s stock valued at $3,096,000 after purchasing an additional 35,691 shares during the period. 91.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CARR. Oppenheimer reiterated a “market perform” rating on shares of Carrier Global in a research report on Wednesday, October 29th. Wells Fargo & Company cut their price objective on shares of Carrier Global from $62.00 to $59.00 and set an “equal weight” rating on the stock in a report on Thursday, December 4th. Mizuho decreased their target price on shares of Carrier Global from $75.00 to $67.00 and set an “outperform” rating on the stock in a research report on Monday, January 5th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Carrier Global from $70.00 to $64.00 and set a “hold” rating for the company in a report on Wednesday, October 29th. Finally, Zacks Research raised shares of Carrier Global from a “strong sell” rating to a “hold” rating in a research note on Friday, November 21st. Ten 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 price target of $71.12.

Carrier Global Stock Up 4.5%

Shares of NYSE:CARR opened at $56.27 on Friday. The stock has a 50-day simple moving average of $53.99 and a 200-day simple moving average of $61.69. The stock has a market capitalization of $47.39 billion, a P/E ratio of 12.59, a PEG ratio of 2.23 and a beta of 1.31. Carrier Global Corporation has a 1 year low of $50.24 and a 1 year high of $81.09. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.75 and a current ratio of 1.14.

Carrier Global (NYSE:CARR) last posted its quarterly earnings results 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 analyst estimates of $5.65 billion. Carrier Global had a net margin of 18.05% and a return on equity of 16.65%. Carrier Global’s revenue for the quarter was down 6.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.83 earnings per share. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. Equities analysts forecast that Carrier Global Corporation will post 2.99 earnings per share for the current year.

Carrier Global Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 9th. Investors of record on Tuesday, January 20th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Tuesday, January 20th. This is a positive change from Carrier Global’s previous quarterly dividend of $0.23. Carrier Global’s dividend payout ratio (DPR) is presently 20.13%.

Carrier Global declared that its Board of Directors has approved a share buyback program on Tuesday, October 28th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes 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 board of directors believes its stock is undervalued.

Carrier Global 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.