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

Resona Asset Management Co. Ltd. decreased its holdings in shares of Carrier Global Corporation (NYSE:CARR) by 4.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. 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.

Several other institutional investors also recently added to or reduced their stakes in the business. AdvisorShares Investments LLC bought a new stake in shares of Carrier Global in the second quarter valued at approximately $25,000. Winnow Wealth LLC bought a new stake in Carrier Global in the 2nd quarter valued at $26,000. Twin Peaks Wealth Advisors LLC acquired a new stake in Carrier Global in the 2nd quarter worth $26,000. Clayton Financial Group LLC bought a new position in shares of Carrier Global during the 3rd quarter worth about $26,000. Finally, Traub Capital Management LLC acquired a new position in shares of Carrier Global during the second quarter valued at about $27,000. 91.00% of the stock is owned by institutional investors.

Carrier Global Trading Down 0.2%

Shares of CARR opened at $57.32 on Monday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.75 and a current ratio of 1.14. The company has a market cap of $48.27 billion, a price-to-earnings ratio of 12.82, a PEG ratio of 2.30 and a beta of 1.31. The stock has a fifty day moving average price of $53.92 and a two-hundred day moving average price of $60.32. Carrier Global Corporation has a 52-week low of $50.24 and a 52-week high of $81.09.

Carrier Global (NYSE:CARR) last announced its earnings results on Tuesday, October 28th. The company reported $0.67 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $5.65 billion. During the same period last year, the company posted $0.83 earnings per share. The firm’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. Analysts predict that Carrier Global Corporation will post 2.99 EPS for the current fiscal year.

Carrier Global declared that its board has initiated a stock repurchase program 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 programs are often an indication that the company’s board 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. Stockholders of record on Tuesday, January 20th will be given 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 dividend yield of 1.7%. Carrier Global’s dividend payout ratio (DPR) is currently 21.48%.

Wall Street Analysts Forecast Growth

CARR has been the topic of a number of recent research reports. Oppenheimer reissued a “market perform” rating on shares of Carrier Global in a research report on Wednesday, October 29th. UBS Group decreased their price objective on Carrier Global from $73.00 to $70.00 and set a “buy” rating on the stock in a report on Monday, January 5th. Wolfe Research cut their target price on Carrier Global from $74.00 to $70.00 and set an “outperform” rating for the company in a research note on Thursday, January 15th. Mizuho decreased 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, Citigroup lowered their price target on shares of Carrier Global from $71.00 to $70.00 and set a “buy” rating on the stock in a report on Monday, January 12th. Ten equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, Carrier Global presently has an average rating of “Moderate Buy” and an average target price of $69.44.

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.