KeyCorp Comments on Carrier Global Co.’s Q3 2024 Earnings (NYSE:CARR)

Carrier Global Co. (NYSE:CARR) – Equities researchers at KeyCorp issued their Q3 2024 earnings per share (EPS) estimates for Carrier Global in a research note issued on Monday, October 14th. KeyCorp analyst J. Hammond anticipates that the company will post earnings of $0.81 per share for the quarter. The consensus estimate for Carrier Global’s current full-year earnings is $2.85 per share. KeyCorp also issued estimates for Carrier Global’s Q4 2024 earnings at $0.55 EPS and FY2025 earnings at $2.95 EPS.

CARR has been the subject of a number of other research reports. Citigroup upgraded Carrier Global from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $65.00 to $74.00 in a research report on Monday, June 24th. Robert W. Baird dropped their price objective on Carrier Global from $75.00 to $74.00 and set an “outperform” rating for the company in a report on Friday, July 26th. Baird R W upgraded Carrier Global from a “hold” rating to a “strong-buy” rating in a report on Monday, July 15th. Wells Fargo & Company increased their price target on Carrier Global from $73.00 to $82.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Finally, Oppenheimer upped their price objective on Carrier Global from $74.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Six analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $80.00.

Carrier Global Trading Down 0.7 %

CARR stock opened at $81.05 on Wednesday. The company has a market cap of $73.03 billion, a P/E ratio of 56.68, a PEG ratio of 2.94 and a beta of 1.32. Carrier Global has a twelve month low of $45.68 and a twelve month high of $83.32. The company has a quick ratio of 0.80, a current ratio of 1.08 and a debt-to-equity ratio of 0.80. The business has a fifty day moving average of $74.63 and a 200-day moving average of $66.88.

Carrier Global (NYSE:CARR) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. The company had revenue of $6.70 billion for the quarter, compared to analyst estimates of $7.05 billion. Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. The business’s revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.79 earnings per share.

Carrier Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Investors of record on Friday, October 25th will be paid a $0.19 dividend. The ex-dividend date is Friday, October 25th. This represents a $0.76 annualized dividend and a yield of 0.94%. Carrier Global’s payout ratio is 53.15%.

Insider Activity at Carrier Global

In related news, VP Ajay Agrawal sold 62,382 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $64.55, for a total value of $4,026,758.10. Following the transaction, the vice president now owns 103,066 shares of the company’s stock, valued at $6,652,910.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 6.95% of the stock is owned by company insiders.

Institutional Trading of Carrier Global

A number of institutional investors have recently modified their holdings of CARR. JPMorgan Chase & Co. lifted its holdings in Carrier Global by 280.1% in the first quarter. JPMorgan Chase & Co. now owns 23,098,687 shares of the company’s stock worth $1,342,727,000 after buying an additional 17,021,768 shares during the period. Capital International Investors boosted its holdings in Carrier Global by 4.6% in the first quarter. Capital International Investors now owns 84,827,130 shares of the company’s stock worth $4,931,001,000 after purchasing an additional 3,763,666 shares during the last quarter. PineStone Asset Management Inc. boosted its holdings in Carrier Global by 139.7% in the second quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company’s stock worth $404,903,000 after purchasing an additional 3,741,206 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Carrier Global during the 2nd quarter worth $58,415,000. Finally, Vanguard Group Inc. boosted its stake in shares of Carrier Global by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 94,289,980 shares of the company’s stock worth $5,481,077,000 after acquiring an additional 466,829 shares during the last quarter. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

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.