Allworth Financial LP Purchases New Position in Carrier Global Corporation $CARR

Key Points

• Allworth Financial LP acquired 178,247 shares of Carrier Global in the second quarter, worth approximately $13.1 million. Institutional investors now own about 91% of the company.
• Carrier reported quarterly EPS of $0.86 and revenue of $6.35 billion, exceeding analyst expectations; revenue increased 3.9% year over year.
• Carrier pays a quarterly dividend of $0.24 per share, equivalent to a $0.96 annualized payout and a 1.6% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $73.67.

Allworth Financial LP purchased a new stake in shares of Carrier Global Corporation (NYSE:CARR - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 178,247 shares of the company's stock, valued at approximately $13,074,000.

A number of other large investors have also added to or reduced their stakes in CARR. Bank of New York Mellon Corp bought a new position in Carrier Global during the second quarter valued at $590,759,000. Norges Bank purchased a new position in shares of Carrier Global in the 4th quarter worth $380,299,000. Deutsche Bank AG bought a new stake in shares of Carrier Global in the 2nd quarter worth about $166,165,000. Ontario Teachers Pension Plan Board bought a new stake in shares of Carrier Global in the 4th quarter worth about $99,839,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Carrier Global during the 2nd quarter valued at about $136,714,000. Institutional investors own 91.00% of the company's stock.

Carrier Global Trading Down 1.8%

NYSE CARR opened at $60.12 on Friday. The stock has a market cap of $49.56 billion, a PE ratio of 41.75, a PEG ratio of 2.26 and a beta of 1.31. Carrier Global Corporation has a 12 month low of $50.24 and a 12 month high of $76.76. The company's 50-day moving average price is $67.56 and its 200-day moving average price is $64.14. The company has a current ratio of 1.02, a quick ratio of 0.72 and a debt-to-equity ratio of 0.77.

Carrier Global (NYSE:CARR - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.82 by $0.04. The business had revenue of $6.35 billion for 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 revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.92 EPS. Carrier Global has set its FY 2026 guidance at 2.900-2.900 EPS. Equities research analysts forecast that Carrier Global Corporation will post 2.89 earnings per share for the current year.

Carrier Global Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms recently commented on CARR. Royal Bank Of Canada lifted their price target on Carrier Global from $71.00 to $81.00 and gave the stock an "outperform" rating in a research report on Friday, May 1st. Robert W. Baird lifted their target price on Carrier Global from $70.00 to $75.00 in a report on Friday, May 1st. Wells Fargo & Company boosted their target price on Carrier Global from $58.00 to $71.00 in a research report on Friday, May 1st. Argus increased their price target on Carrier Global from $72.00 to $75.00 and gave the company a "buy" rating in a report on Tuesday, May 5th. Finally, JPMorgan Chase & Co. raised their price target on Carrier Global from $63.00 to $67.00 and gave the stock a "neutral" rating in a research report on Thursday, May 14th. One 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 company's stock. According to data from MarketBeat.com, Carrier Global has a consensus rating of "Moderate Buy" and an average price target of $73.67.

Carrier Global 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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