Meitav Investment House Ltd. Has $21.77 Million Stock Position in Carrier Global Corporation $CARR

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

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

Carrier Global Trading Up 1.2%

NYSE CARR opened at $56.20 on Friday. The firm has a market capitalization of $47.33 billion, a PE ratio of 12.57, a price-to-earnings-growth ratio of 2.17 and a beta of 1.31. The business’s 50-day moving average price is $53.82 and its two-hundred day moving average price is $61.07. 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 12 month low of $50.24 and a 12 month high of $81.09.

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. Carrier Global had a return on equity of 16.65% and a net margin of 18.05%.The company had revenue of $5.58 billion for the quarter, compared to analyst estimates of $5.65 billion. During the same period in the previous year, the firm earned $0.83 earnings per share. The firm’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. On average, analysts expect that Carrier Global Corporation will post 2.99 EPS for the current year.

Carrier Global Increases Dividend

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

Carrier Global announced that its Board of Directors has approved a share buyback plan on Tuesday, October 28th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 10.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

CARR has been the topic of several research reports. UBS Group decreased their price target on shares of Carrier Global from $73.00 to $70.00 and set a “buy” rating on the stock in a report on Monday, January 5th. 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 note on Monday, January 5th. Barclays lowered their price target on shares of Carrier Global from $74.00 to $72.00 and set an “overweight” rating for the company in a report on Wednesday, December 10th. Wells Fargo & Company reduced their price objective on Carrier Global from $62.00 to $59.00 and set an “equal weight” rating on the stock in a research report on Thursday, December 4th. Finally, Citigroup lowered their target price on Carrier Global from $71.00 to $70.00 and set a “buy” rating for the company in a report on Monday, January 12th. Ten research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $71.00.

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.