42,945 Shares in Carrier Global Corporation $CARR Purchased by Diversified Management Inc.

Key Points

• Diversified Management Inc. purchased 42,945 Carrier Global shares in the third quarter, valued at approximately $2.36 million. Institutional investors and hedge funds collectively own 91% of the company.
• Carrier exceeded quarterly expectations, reporting $0.86 earnings per share and $6.35 billion in revenue, while revenue increased 3.9% year over year. Analysts have a “Moderate Buy” consensus rating with an average price target of $72.27.
• Carrier declared a quarterly dividend of $0.24 per share, equivalent to $0.96 annually and a 1.7% yield. Shares recently opened at $55.83, below their 50-day and 200-day moving averages.

Diversified Management Inc. bought a new stake in shares of Carrier Global Corporation (NYSE:CARR - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 42,945 shares of the company's stock, valued at approximately $2,356,000.

Several other institutional investors also recently bought and sold shares of the company. Johnson Financial Group Inc. purchased a new stake in shares of Carrier Global during the second quarter worth $25,000. Meeder Asset Management Inc. acquired a new position in Carrier Global during the 2nd quarter worth approximately $26,000. Financial Management Professionals Inc. grew its holdings in Carrier Global by 142.4% during the 2nd quarter. Financial Management Professionals Inc. now owns 383 shares of the company's stock worth $28,000 after acquiring an additional 225 shares in the last quarter. Burnham & Co LLC purchased a new stake in shares of Carrier Global in the 2nd quarter valued at approximately $37,000. Finally, Signature Equity Partners LLC increased its position in shares of Carrier Global by 449.2% in the 1st quarter. Signature Equity Partners LLC now owns 648 shares of the company's stock valued at $36,000 after purchasing an additional 530 shares during the last quarter. 91.00% of the stock is owned by institutional investors and hedge funds.

Carrier Global Stock Performance

Shares of CARR stock opened at $55.83 on Friday. The stock's 50-day moving average is $58.68 and its two-hundred day moving average is $62.92. The firm has a market cap of $46.02 billion, a price-to-earnings ratio of 38.77, a PEG ratio of 1.88 and a beta of 1.29. Carrier Global Corporation has a 1 year low of $50.24 and a 1 year high of $76.76. 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 (NYSE:CARR - Get Free Report) last posted its earnings results on Tuesday, July 28th. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.04. The business had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.02 billion. Carrier Global had a return on equity of 14.68% and a net margin of 5.52%.The business's quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.92 EPS. Carrier Global has set its FY 2026 guidance at 2.900-2.900 EPS. Analysts predict that Carrier Global Corporation will post 2.87 earnings per share for the current year.

Carrier Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 18th. Stockholders of record on Thursday, October 29th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Thursday, October 29th. Carrier Global's payout ratio is presently 66.67%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on CARR shares. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Carrier Global from $71.00 to $64.00 and set a "hold" rating for the company in a research report on Wednesday, September 30th. Wells Fargo & Company assumed coverage on Carrier Global in a report on Thursday, September 24th. They set an "overweight" rating and a $67.00 price target for the company. Sanford C. Bernstein lowered their price objective on Carrier Global from $78.00 to $64.00 and set a "market perform" rating for the company in a research report on Wednesday. The Goldman Sachs Group dropped their price objective on Carrier Global from $85.00 to $74.00 and set a "buy" rating on the stock in a report on Wednesday, September 30th. Finally, Zacks Research lowered Carrier Global from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 1st. Twelve research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $72.27.

Carrier Global Company Profile

Carrier Global Corporation NYSE: CARR is a global provider of intelligent climate and energy solutions. The company develops and manufactures heating, ventilation and air-conditioning (HVAC) systems, heat pumps, building controls, and related equipment for residential, commercial and industrial customers. Its offerings are designed to support temperature control, indoor air quality, energy efficiency and building performance.

Carrier also provides refrigeration products and services for food retail, transportation and other applications.

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