1,144,913 Shares in Carrier Global Corporation $CARR Acquired by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company acquired 1,144,913 Carrier Global shares worth approximately $84 million, giving it a 0.14% stake. Institutional investors and hedge funds collectively own about 91% of CARR.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $73.67, well above the stock’s reported $58.51 price.
• Carrier exceeded quarterly expectations with $0.86 in adjusted EPS and $6.35 billion in revenue, while maintaining a quarterly dividend of $0.24 per share, equivalent to a 1.6% annualized yield.

The Manufacturers Life Insurance Company purchased a new stake in Carrier Global Corporation (NYSE:CARR - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,144,913 shares of the company's stock, valued at approximately $83,979,000. The Manufacturers Life Insurance Company owned 0.14% of Carrier Global as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CARR. Torren Management LLC acquired a new stake in shares of Carrier Global in the fourth quarter worth $25,000. Johnson Financial Group Inc. acquired a new stake in Carrier Global in the 2nd quarter valued at $25,000. Meeder Asset Management Inc. purchased a new position in Carrier Global in the second quarter valued at about $26,000. Financial Management Professionals Inc. raised its position in Carrier Global by 142.4% in the second quarter. Financial Management Professionals Inc. now owns 383 shares of the company's stock valued at $28,000 after purchasing an additional 225 shares during the period. Finally, Garton & Associates Financial Advisors LLC acquired a new position in shares of Carrier Global during the fourth quarter worth about $33,000. 91.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on CARR shares. Barclays upped their target price on Carrier Global from $67.00 to $79.00 and gave the stock an "overweight" rating in a research report on Friday, May 1st. Evercore boosted their price target on Carrier Global from $75.00 to $85.00 in a research report on Friday, May 1st. Robert W. Baird upped their price target on Carrier Global from $70.00 to $75.00 in a report on Friday, May 1st. Argus increased their price objective on shares of Carrier Global from $72.00 to $75.00 and gave the company a "buy" rating in a research report on Tuesday, May 5th. Finally, Rothschild & Co Redburn lifted their price objective on shares of Carrier Global from $61.00 to $73.00 and gave the company a "neutral" rating in a research note on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $73.67.

Carrier Global Stock Down 2.4%

Shares of NYSE CARR opened at $58.51 on Wednesday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.72 and a current ratio of 1.02. Carrier Global Corporation has a 1 year low of $50.24 and a 1 year high of $76.76. The stock's 50-day simple moving average is $66.89 and its 200-day simple moving average is $64.09. The firm has a market cap of $48.23 billion, a price-to-earnings ratio of 40.63, a PEG ratio of 2.21 and a beta of 1.31.

Carrier Global (NYSE:CARR - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $0.86 EPS for the quarter, beating analysts' consensus estimates of $0.82 by $0.04. Carrier Global had a return on equity of 14.68% and a net margin of 5.52%.The firm had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.02 billion. During the same quarter in the prior year, the business posted $0.92 earnings per share. Carrier Global's revenue for the quarter was up 3.9% on a year-over-year basis. Carrier Global has set its FY 2026 guidance at 2.900-2.900 EPS. As a group, equities analysts anticipate that Carrier Global Corporation will post 2.89 earnings per share for the current fiscal year.

Carrier Global Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Tuesday, July 21st were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Tuesday, July 21st. Carrier Global's dividend payout ratio is 66.67%.

Carrier Global Company 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.

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