Resona Asset Management Co. Ltd. Has $14.87 Million Holdings in Carrier Global Corporation $CARR

Resona Asset Management Co. Ltd. trimmed its position in Carrier Global Corporation (NYSE:CARR) by 4.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 249,557 shares of the company’s stock after selling 12,527 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Carrier Global were worth $14,874,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. AdvisorShares Investments LLC acquired a new position in Carrier Global in the 2nd quarter worth approximately $25,000. Winnow Wealth LLC acquired a new stake in shares of Carrier Global in the second quarter worth $26,000. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Carrier Global during the second quarter valued at $26,000. Clayton Financial Group LLC acquired a new position in Carrier Global during the third quarter valued at $26,000. Finally, Traub Capital Management LLC purchased a new stake in Carrier Global in the 2nd quarter worth about $27,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Stock Down 0.2%

Carrier Global stock opened at $57.32 on Monday. The company has a current ratio of 1.14, a quick ratio of 0.75 and a debt-to-equity ratio of 0.76. Carrier Global Corporation has a 1-year low of $50.24 and a 1-year high of $81.09. The firm’s fifty day simple moving average is $53.92 and its 200-day simple moving average is $60.32. The company has a market capitalization of $48.27 billion, a P/E ratio of 12.82, a P/E/G ratio of 2.30 and a beta of 1.31.

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

Carrier Global declared that its board 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 buy up to 10.1% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Carrier Global Increases Dividend

The business 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 $0.24 dividend. This is an increase from Carrier Global’s previous quarterly dividend of $0.23. The ex-dividend date is Tuesday, January 20th. This represents a $0.96 annualized dividend and a yield of 1.7%. Carrier Global’s dividend payout ratio is presently 21.48%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Barclays lowered their target price on Carrier Global from $74.00 to $72.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 10th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Carrier Global from $70.00 to $64.00 and set a “hold” rating on the stock in a research report on Wednesday, October 29th. Citigroup decreased their target price on shares of Carrier Global from $71.00 to $70.00 and set a “buy” rating for the company in a research note on Monday, January 12th. Mizuho dropped their price target on shares of Carrier Global from $75.00 to $67.00 and set an “outperform” rating on the stock in a research note on Monday, January 5th. Finally, Zacks Research upgraded Carrier Global from a “strong sell” rating to a “hold” rating in a report on Friday, November 21st. Ten investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.44.

Carrier Global Company 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.