Alliancebernstein L.P. Buys 1,651,873 Shares of Carrier Global Corporation $CARR

Key Points

• AllianceBernstein L.P. increased its stake in Carrier Global Corporation by 61.9%, acquiring an additional 1,651,873 shares, bringing its total ownership to 4,318,806 shares valued at approximately $273.8 million.
• Carrier Global recently reported $0.92 EPS for the quarter, exceeding expectations, and announced a quarterly dividend of $0.225 per share, representing an annual yield of 1.4%.
• The company holds a consensus rating of "Moderate Buy" from analysts, with a price target of $84.47, following mixed ratings from various research reports.

Alliancebernstein L.P. increased its stake in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 61.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,318,806 shares of the company's stock after acquiring an additional 1,651,873 shares during the quarter. Alliancebernstein L.P. owned about 0.50% of Carrier Global worth $273,812,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Park Square Financial Group LLC bought a new stake in shares of Carrier Global in the fourth quarter worth about $28,000. Accredited Wealth Management LLC purchased a new stake in shares of Carrier Global during the 1st quarter worth approximately $28,000. Mattson Financial Services LLC bought a new position in shares of Carrier Global during the 4th quarter valued at approximately $31,000. Investment Research & Advisory Group Inc. purchased a new position in shares of Carrier Global in the first quarter valued at $29,000. Finally, Mascagni Wealth Management Inc. bought a new stake in Carrier Global in the fourth quarter worth $35,000. 91.00% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CARR has been the subject of a number of recent research reports. Melius initiated coverage on shares of Carrier Global in a research note on Tuesday, July 1st. They issued a "hold" rating and a $90.00 price objective for the company. Royal Bank Of Canada lowered their price objective on Carrier Global from $89.00 to $87.00 and set an "outperform" rating for the company in a research note on Wednesday, July 30th. Melius Research raised Carrier Global to a "hold" rating and set a $90.00 target price on the stock in a research report on Tuesday, July 1st. Robert W. Baird decreased their price target on Carrier Global from $85.00 to $84.00 and set an "outperform" rating on the stock in a report on Wednesday, July 30th. Finally, Barclays lowered their price target on Carrier Global from $84.00 to $82.00 and set an "overweight" rating for the company in a research report on Wednesday, July 30th. Ten research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, Carrier Global presently has a consensus rating of "Moderate Buy" and a consensus price target of $84.47.

Carrier Global Stock Performance

Shares of NYSE:CARR opened at $62.41 on Thursday. 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 firm has a market cap of $53.11 billion, a PE ratio of 13.60, a price-to-earnings-growth ratio of 1.79 and a beta of 1.25. The firm's 50 day simple moving average is $70.88 and its 200-day simple moving average is $68.21. Carrier Global Corporation has a one year low of $54.22 and a one year high of $83.32.

Carrier Global (NYSE:CARR - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.90 by $0.02. Carrier Global had a return on equity of 17.83% and a net margin of 18.33%.The company had revenue of $6.11 billion for 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. As a group, equities analysts predict that Carrier Global Corporation will post 2.99 EPS for the current year.

Carrier Global Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Monday, July 21st were issued a $0.225 dividend. The ex-dividend date of this dividend was Monday, July 21st. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.4%. Carrier Global's dividend payout ratio (DPR) is currently 19.61%.

Carrier Global 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.

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