Dynamic Technology Lab Private Ltd Makes New $1.22 Million Investment in Carrier Global Corporation $CARR

Key Points

• Dynamic Technology Lab Private Ltd acquired a new stake in Carrier Global Corporation, purchasing 19,309 shares valued at approximately $1,224,000 in the first quarter.
• Carrier Global recently reported earnings of $0.92 per share, exceeding estimates, with a revenue of $6.11 billion for the quarter.
• The company announced a quarterly dividend of $0.225 per share, reflecting an annualized dividend of $0.90 and a dividend yield of 1.4%.

Dynamic Technology Lab Private Ltd bought a new position in shares of Carrier Global Corporation (NYSE:CARR - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 19,309 shares of the company's stock, valued at approximately $1,224,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Nuveen LLC acquired a new stake in Carrier Global in the first quarter valued at approximately $649,512,000. JPMorgan Chase & Co. grew its position in Carrier Global by 17.6% in the first quarter. JPMorgan Chase & Co. now owns 31,126,869 shares of the company's stock valued at $1,973,444,000 after acquiring an additional 4,668,929 shares in the last quarter. Brown Advisory Inc. grew its position in Carrier Global by 82.6% in the first quarter. Brown Advisory Inc. now owns 9,673,979 shares of the company's stock valued at $613,330,000 after acquiring an additional 4,377,402 shares in the last quarter. Alliancebernstein L.P. grew its position in Carrier Global by 61.9% in the first quarter. Alliancebernstein L.P. now owns 4,318,806 shares of the company's stock valued at $273,812,000 after acquiring an additional 1,651,873 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its position in Carrier Global by 2,484.0% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,122,545 shares of the company's stock valued at $76,625,000 after acquiring an additional 1,079,103 shares in the last quarter. Institutional investors and hedge funds own 91.00% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on CARR. Citigroup reaffirmed a "buy" rating and issued a $89.00 price objective (up previously from $82.00) on shares of Carrier Global in a research report on Monday, July 14th. The Goldman Sachs Group lowered their price objective on shares of Carrier Global from $88.00 to $76.00 and set a "buy" rating for the company in a research report on Friday. Robert W. Baird lowered their price objective on shares of Carrier Global from $85.00 to $84.00 and set an "outperform" rating for the company in a research report on Wednesday, July 30th. Royal Bank Of Canada lowered their price objective on shares of Carrier Global from $87.00 to $75.00 and set an "outperform" rating for the company in a research report on Friday. Finally, JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $79.00 price objective on shares of Carrier Global in a research report on Tuesday, July 15th. Ten analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, Carrier Global presently has a consensus rating of "Moderate Buy" and a consensus target price of $82.12.

Carrier Global Stock Down 1.0%

Shares of CARR stock traded down $0.62 during mid-day trading on Friday, reaching $61.68. 5,224,873 shares of the company were exchanged, compared to its average volume of 5,945,904. Carrier Global Corporation has a fifty-two week low of $54.22 and a fifty-two week high of $83.32. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.80 and a current ratio of 1.17. The company has a market capitalization of $52.49 billion, a P/E ratio of 13.44, a P/E/G ratio of 1.76 and a beta of 1.25. The business's 50 day simple moving average is $69.37 and its 200 day simple moving average is $68.08.

Carrier Global (NYSE:CARR - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The company reported $0.92 earnings per share for the quarter, topping analysts' consensus estimates of $0.90 by $0.02. Carrier Global had a net margin of 18.33% and a return on equity of 17.83%. The business had revenue of $6.11 billion during the quarter, compared to the consensus estimate of $6.08 billion. Carrier Global has set its FY 2025 guidance at 3.000-3.100 EPS. Research analysts predict that Carrier Global Corporation will post 2.99 earnings per share for the current year.

Carrier Global Company Profile

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.