Meitav Investment House Ltd. Buys 161,513 Shares of Carrier Global Corporation $CARR

Meitav Investment House Ltd. boosted its position in shares of Carrier Global Corporation (NYSE:CARR) by 79.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 364,653 shares of the company’s stock after acquiring an additional 161,513 shares during the quarter. Meitav Investment House Ltd.’s holdings in Carrier Global were worth $21,770,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in CARR. AdvisorShares Investments LLC bought a new stake in shares of Carrier Global in the 2nd quarter valued at about $25,000. Twin Peaks Wealth Advisors LLC bought a new stake in Carrier Global in the second quarter valued at approximately $26,000. Winnow Wealth LLC bought a new stake in Carrier Global in the second quarter valued at approximately $26,000. Traub Capital Management LLC acquired a new stake in shares of Carrier Global in the second quarter valued at approximately $27,000. Finally, REAP Financial Group LLC bought a new position in shares of Carrier Global during the 2nd quarter worth approximately $29,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Trading Up 1.2%

Shares of CARR stock opened at $56.20 on Friday. The stock has a market cap of $47.33 billion, a P/E ratio of 12.57, a price-to-earnings-growth ratio of 2.17 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 current ratio of 1.14, a quick ratio of 0.75 and a debt-to-equity ratio of 0.76. The stock has a 50 day simple moving average of $53.82 and a 200 day simple moving average of $61.07.

Carrier Global (NYSE:CARR) last posted its quarterly earnings data on Tuesday, October 28th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 16.65% and a net margin of 18.05%.The company’s revenue was down 6.8% on a year-over-year basis. During the same quarter last year, the company earned $0.83 EPS. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. On average, research analysts predict that Carrier Global Corporation will post 2.99 earnings per share for the current fiscal year.

Carrier Global Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 9th. Shareholders of record on Tuesday, January 20th will be paid a dividend of $0.24 per share. The ex-dividend date is Tuesday, January 20th. This is a positive change from Carrier Global’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a yield of 1.7%. Carrier Global’s dividend payout ratio is currently 21.48%.

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

Analyst Ratings Changes

CARR has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Carrier Global from $60.00 to $63.00 and gave the stock a “neutral” rating in a research report on Friday. Deutsche Bank Aktiengesellschaft decreased their price target 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. Oppenheimer restated a “market perform” rating on shares of Carrier Global in a research report on Wednesday, October 29th. Robert W. Baird set a $72.00 target price on Carrier Global in a research report on Wednesday, October 29th. Finally, Wells Fargo & Company lowered their target price on Carrier Global from $62.00 to $59.00 and set an “equal weight” rating on the stock in a research note on Thursday, December 4th. Ten analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, Carrier Global currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.00.

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.