Axxcess Wealth Management LLC Reduces Stake in Carrier Global Corporation $CARR

Key Points

• Axxcess Wealth Management cut its stake in Carrier Global by 91.5% in the fourth quarter, selling 77,277 shares and leaving it with 7,179 shares worth about $379,000.
• Several analysts raised their price targets on Carrier Global, and the stock now carries a “Moderate Buy” consensus rating with an average price target of $73.78.
• Carrier Global reported better-than-expected quarterly results, with EPS of $0.57 versus $0.51 expected and revenue of $5.34 billion, while also paying a quarterly dividend of $0.24 per share.

Axxcess Wealth Management LLC trimmed its stake in Carrier Global Corporation (NYSE:CARR - Free Report) by 91.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,179 shares of the company's stock after selling 77,277 shares during the quarter. Axxcess Wealth Management LLC's holdings in Carrier Global were worth $379,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Capital International Investors boosted its stake in Carrier Global by 6.7% in the third quarter. Capital International Investors now owns 57,982,302 shares of the company's stock valued at $3,461,142,000 after acquiring an additional 3,630,524 shares during the last quarter. State Street Corp boosted its stake in Carrier Global by 1.4% in the third quarter. State Street Corp now owns 33,377,339 shares of the company's stock valued at $1,992,627,000 after acquiring an additional 473,692 shares during the last quarter. Fisher Asset Management LLC lifted its stake 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 valued at $903,807,000 after buying an additional 90,585 shares in the last quarter. Dodge & Cox boosted its holdings in Carrier Global by 5.1% in the 3rd quarter. Dodge & Cox now owns 13,427,697 shares of the company's stock worth $801,634,000 after buying an additional 651,648 shares during the period. Finally, PineStone Asset Management Inc. grew its stake in Carrier Global by 34.6% in the 4th quarter. PineStone Asset Management Inc. now owns 7,153,429 shares of the company's stock valued at $377,987,000 after buying an additional 1,837,985 shares in the last quarter. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CARR has been the topic of several recent research reports. The Goldman Sachs Group increased their target price on Carrier Global from $74.00 to $80.00 in a research report on Friday, May 1st. Wolfe Research lifted their price target on Carrier Global from $75.00 to $76.00 and gave the company an "outperform" rating in a research report on Wednesday, April 8th. JPMorgan Chase & Co. increased their price objective on Carrier Global from $63.00 to $67.00 and gave the stock a "neutral" rating in a report on Thursday, May 14th. Royal Bank Of Canada increased their price objective on Carrier Global from $71.00 to $81.00 and gave the stock an "outperform" rating in a report on Friday, May 1st. Finally, Wells Fargo & Company increased their price objective on Carrier Global from $58.00 to $71.00 in a report on Friday, May 1st. Twelve equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, Carrier Global has an average rating of "Moderate Buy" and a consensus price target of $73.78.

Carrier Global Stock Performance

NYSE CARR opened at $64.45 on Thursday. Carrier Global Corporation has a 1 year low of $50.24 and a 1 year high of $81.09. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.05 and a quick ratio of 0.75. The stock has a market capitalization of $53.53 billion, a PE ratio of 42.40, a P/E/G ratio of 2.59 and a beta of 1.38. The company's 50 day simple moving average is $61.22 and its two-hundred day simple moving average is $58.55.

Carrier Global (NYSE:CARR - Get Free Report) last posted its earnings results on Thursday, April 30th. The company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.06. Carrier Global had a net margin of 5.99% and a return on equity of 14.81%. The business had revenue of $5.34 billion for the quarter, compared to analysts' expectations of $5.01 billion. During the same period in the prior year, the company posted $0.65 EPS. The business's revenue for the quarter was up 2.4% compared to the same quarter last year. Carrier Global has set its FY 2026 guidance at 2.800-2.800 EPS. Analysts predict that Carrier Global Corporation will post 2.8 earnings per share for the current fiscal year.

Carrier Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Monday, May 4th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Monday, May 4th. Carrier Global's payout ratio is currently 63.16%.

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.

Want to see what other hedge funds are holding CARR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Carrier Global Corporation (NYSE:CARR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.