DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Buys 3,426,395 Shares of Carrier Global Corporation $CARR

by · The Cerbat Gem

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in shares of Carrier Global Corporation (NYSE:CARR – Free Report) by 1,742.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,623,000 shares of the company’s stock after acquiring an additional 3,426,395 shares during the quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main owned approximately 0.43% of Carrier Global worth $265,167,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. AdvisorShares Investments LLC acquired a new stake in shares of Carrier Global during the 2nd quarter worth about $25,000. Winnow Wealth LLC bought a new stake in Carrier Global during the second quarter worth about $26,000. Twin Peaks Wealth Advisors LLC bought a new stake in Carrier Global during the second quarter worth about $26,000. Traub Capital Management LLC acquired a new stake in shares of Carrier Global during the second quarter worth approximately $27,000. Finally, Accredited Wealth Management LLC bought a new position in shares of Carrier Global in the first quarter valued at approximately $28,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Stock Performance

Shares of NYSE:CARR opened at $54.12 on Friday. 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 $50.30 and a 1-year high of $81.09. The stock has a market capitalization of $45.58 billion, a P/E ratio of 12.11, a P/E/G ratio of 2.32 and a beta of 1.30. The business has a 50-day moving average price of $56.03 and a two-hundred day moving average price of $64.36.

Carrier Global (NYSE:CARR – Get Free Report) last issued its earnings results on Tuesday, October 28th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.10. The company 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%. The company’s revenue for the quarter was down 6.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.83 EPS. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. Equities analysts predict that Carrier Global Corporation will post 2.99 earnings per share for the current year.

Carrier Global declared that its board has initiated a stock buyback program on Tuesday, October 28th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 10.1% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Carrier Global Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 9th. Shareholders of record on Tuesday, January 20th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.8%. 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 is presently 20.13%.

Analyst Ratings Changes

A number of equities research analysts recently commented on CARR shares. Barclays decreased their price target on Carrier Global from $74.00 to $72.00 and set an “overweight” rating on the stock in a research report on Wednesday. Wolfe Research set a $74.00 target price on Carrier Global in a report on Tuesday. The Goldman Sachs Group lowered their target price on Carrier Global from $76.00 to $72.00 and set a “buy” rating for the company in a research note on Wednesday, October 29th. Morgan Stanley reduced their price target on shares of Carrier Global from $75.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 14th. Finally, Mizuho decreased their price objective on shares of Carrier Global from $80.00 to $75.00 and set an “outperform” rating on the stock in a report on Friday, October 17th. Nine analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $72.25.

Read Our Latest Report on Carrier Global

Carrier Global Company Profile

(Free Report)

Carrier Global Corporation provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies in the United States, Europe, the Asia Pacific, and internationally. It operates through three segments: HVAC, Refrigeration, and Fire & Security.

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