Carrier Global (NYSE:CARR) Trading Up 11.4% on Better-Than-Expected Earnings

Key Points

• Shares jumped 11.4% to about $68.78 after Carrier beat the quarter — EPS $0.57 vs. $0.50 expected and revenue $5.34B vs. $4.99B — and set FY2026 guidance at $2.80 EPS.
• Carrier declared a quarterly dividend of $0.24 per share (ex-dividend May 4, payable May 22), equivalent to a $0.96 annualized payout and a 1.4% yield with a 56.1% payout ratio.
• Analysts rate the stock a Moderate Buy on average with a $69.69 price target (13 Buys, 10 Holds), and institutional investors own roughly 91% of the shares.

Carrier Global Corporation (NYSE:CARR - Get Free Report)'s share price traded up 11.4% on Thursday following a better than expected earnings announcement. The stock traded as high as $68.57 and last traded at $68.7790. 6,245,252 shares changed hands during trading, a decline of 14% from the average session volume of 7,303,923 shares. The stock had previously closed at $61.74.

The company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.50 by $0.07. The firm had revenue of $5.34 billion during the quarter, compared to the consensus estimate of $4.99 billion. Carrier Global had a net margin of 6.82% and a return on equity of 15.30%. Carrier Global's revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.65 EPS. Carrier Global has set its FY 2026 guidance at 2.800-2.800 EPS.

Carrier Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Monday, May 4th will be paid a dividend of $0.24 per share. The ex-dividend date is Monday, May 4th. This represents a $0.96 annualized dividend and a dividend yield of 1.4%. Carrier Global's dividend payout ratio is 56.14%.

Analyst Ratings Changes

CARR has been the topic of several recent research reports. Citigroup boosted their price target on Carrier Global from $70.00 to $72.00 and gave the company a "buy" rating in a research report on Friday, February 6th. Barclays lowered their target price on Carrier Global from $72.00 to $67.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 1st. UBS Group dropped their target price on Carrier Global from $73.00 to $70.00 and set a "buy" rating on the stock in a report on Monday, January 5th. CICC Research decreased their price target on Carrier Global from $76.85 to $69.78 and set an "outperform" rating for the company in a report on Wednesday, February 11th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Carrier Global from $60.00 to $63.00 and gave the company a "neutral" rating in a research report on Friday, January 16th. Thirteen investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat, Carrier Global currently has an average rating of "Moderate Buy" and an average price target of $69.69.

Hedge Funds Weigh In On Carrier Global

A number of large investors have recently modified their holdings of CARR. Capital International Investors grew its holdings in Carrier Global by 6.7% during the third quarter. Capital International Investors now owns 57,982,302 shares of the company's stock worth $3,461,142,000 after acquiring an additional 3,630,524 shares during the period. State Street Corp lifted its holdings in Carrier Global by 1.1% in the fourth quarter. State Street Corp now owns 33,728,829 shares of the company's stock valued at $1,782,231,000 after acquiring an additional 351,490 shares during the period. Fisher Asset Management LLC boosted its position in shares of Carrier Global by 0.6% during the 3rd quarter. Fisher Asset Management LLC now owns 15,139,140 shares of the company's stock worth $903,807,000 after purchasing an additional 90,585 shares in the last quarter. Dodge & Cox boosted its position in shares of Carrier Global by 5.1% during the 3rd quarter. Dodge & Cox now owns 13,427,697 shares of the company's stock worth $801,634,000 after purchasing an additional 651,648 shares in the last quarter. Finally, Morgan Stanley grew its stake in shares of Carrier Global by 1.8% during the 4th quarter. Morgan Stanley now owns 11,757,449 shares of the company's stock worth $621,264,000 after purchasing an additional 210,952 shares during the period. 91.00% of the stock is owned by hedge funds and other institutional investors.

Carrier Global Price Performance

The stock's fifty day moving average price is $59.66 and its 200-day moving average price is $57.65. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.85 and a current ratio of 1.20. The firm has a market cap of $57.31 billion, a PE ratio of 40.10, a P/E/G ratio of 2.52 and a beta of 1.32.

About Carrier Global

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.

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