QRG Capital Management Inc. Sells 48,232 Shares of Carrier Global Corporation $CARR

QRG Capital Management Inc. lessened its position in shares of Carrier Global Corporation (NYSE:CARR) by 46.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 55,805 shares of the company’s stock after selling 48,232 shares during the period. QRG Capital Management Inc.’s holdings in Carrier Global were worth $3,332,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in CARR. Spirepoint Private Client LLC boosted its stake in shares of Carrier Global by 547.7% in the 3rd quarter. Spirepoint Private Client LLC now owns 60,694 shares of the company’s stock valued at $3,623,000 after purchasing an additional 51,324 shares in the last quarter. Oak Thistle LLC purchased a new position in Carrier Global in the 3rd quarter worth $1,986,000. Foster Victor Wealth Advisors LLC lifted its stake in Carrier Global by 24.1% in the third 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 last quarter. Triasima Portfolio Management inc. purchased a new stake in Carrier Global during the second quarter valued at about $1,421,000. Finally, Brookstone Capital Management grew its stake in shares of Carrier Global by 220.8% during the third quarter. Brookstone Capital Management now owns 51,852 shares of the company’s stock valued at $3,096,000 after buying an additional 35,691 shares during the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on CARR shares. The Goldman Sachs Group lowered their target price on Carrier Global from $72.00 to $68.00 and set a “buy” rating for the company in a research note on Tuesday, December 16th. UBS Group lowered their price objective on Carrier Global from $73.00 to $70.00 and set a “buy” rating for the company in a research report on Monday, January 5th. Robert W. Baird set a $72.00 price objective on Carrier Global in a research note on Wednesday, October 29th. Morgan Stanley set a $55.00 target price on shares of Carrier Global in a research note on Thursday, January 8th. Finally, Rothschild & Co Redburn increased their price target on shares of Carrier Global from $66.00 to $67.00 in a research report on Thursday, October 30th. Ten equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $71.00.

Carrier Global Price Performance

Shares of Carrier Global stock opened at $56.20 on Monday. The business has a 50 day moving average of $53.82 and a 200 day moving average of $60.97. Carrier Global Corporation has a 52 week low of $50.24 and a 52 week high of $81.09. The company has a market cap of $47.33 billion, a PE ratio of 12.57, a P/E/G ratio of 2.17 and a beta of 1.31. The company has a quick ratio of 0.75, a current ratio of 1.14 and a debt-to-equity ratio of 0.76.

Carrier Global (NYSE:CARR) last issued its quarterly earnings data on Tuesday, October 28th. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. Carrier Global had a net margin of 18.05% and a return on equity of 16.65%. The business had revenue of $5.58 billion for the quarter, compared to the consensus estimate of $5.65 billion. During the same period in the previous year, the firm earned $0.83 EPS. The company’s quarterly revenue was down 6.8% compared to the same quarter last year. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. As a group, equities research analysts forecast that Carrier Global Corporation will post 2.99 earnings per share for the current year.

Carrier Global Increases Dividend

The business also recently disclosed 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. This represents a $0.96 annualized dividend and a yield of 1.7%. This is a boost from Carrier Global’s previous quarterly dividend of $0.23. The ex-dividend date is Tuesday, January 20th. Carrier Global’s dividend payout ratio (DPR) is 20.13%.

Carrier Global declared that its board has approved a share buyback plan on Tuesday, October 28th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the company to buy up to 10.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership 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.