Bank of America Corp DE Acquires 831,327 Shares of Carrier Global Corporation $CARR

Key Points

• Bank of America increased its Carrier Global stake by 14.4% in the first quarter, acquiring 831,327 shares and bringing its holdings to 6.59 million shares valued at approximately $371.2 million. Institutional investors collectively own about 91% of the company.
• Carrier Global reported quarterly EPS of $0.86, beating expectations of $0.82, while revenue reached $6.35 billion and rose 3.9% year over year. The company also declared a quarterly dividend of $0.24 per share, equivalent to a 1.5% annual yield.
• Analysts maintain a generally positive outlook, with Carrier receiving a “Moderate Buy” consensus rating and an average price target of $73.67, above its reported opening price of $61.95.

Bank of America Corp DE lifted its stake in Carrier Global Corporation (NYSE:CARR - Free Report) by 14.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,592,682 shares of the company's stock after purchasing an additional 831,327 shares during the period. Bank of America Corp DE owned about 0.79% of Carrier Global worth $371,234,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA lifted its holdings in shares of Carrier Global by 6.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,127,670 shares of the company's stock worth $59,586,000 after buying an additional 72,906 shares during the period. Y.D. More Investments Ltd purchased a new position in shares of Carrier Global during the fourth quarter valued at $1,556,000. Cardinal Capital Management Inc. raised its holdings in shares of Carrier Global by 11.3% in the fourth quarter. Cardinal Capital Management Inc. now owns 410,196 shares of the company's stock valued at $21,675,000 after acquiring an additional 41,647 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Carrier Global by 16.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 153,168 shares of the company's stock valued at $8,093,000 after acquiring an additional 21,350 shares in the last quarter. Finally, California Public Employees Retirement System lifted its stake in Carrier Global by 1.5% in the first quarter. California Public Employees Retirement System now owns 1,430,425 shares of the company's stock worth $80,547,000 after acquiring an additional 21,367 shares during the period. Institutional investors own 91.00% of the company's stock.

Carrier Global Price Performance

Shares of CARR stock opened at $61.95 on Monday. Carrier Global Corporation has a fifty-two week low of $50.24 and a fifty-two week high of $76.76. The firm has a market capitalization of $51.07 billion, a price-to-earnings ratio of 43.02, a PEG ratio of 2.39 and a beta of 1.31. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.72 and a current ratio of 1.02. The stock's 50-day simple moving average is $68.51 and its 200-day simple moving average is $63.53.

Carrier Global (NYSE:CARR - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.82 by $0.04. The firm had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.02 billion. Carrier Global had a net margin of 5.52% and a return on equity of 14.68%. Carrier Global's revenue was up 3.9% on a year-over-year basis. During the same period last year, the firm posted $0.92 EPS. Carrier Global has set its FY 2026 guidance at 2.900-2.900 EPS. As a group, equities analysts forecast that Carrier Global Corporation will post 2.88 earnings per share for the current fiscal year.

Carrier Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, July 21st will be paid a dividend of $0.24 per share. The ex-dividend date is Tuesday, July 21st. This represents a $0.96 dividend on an annualized basis and a yield of 1.5%. Carrier Global's dividend payout ratio is presently 66.67%.

Wall Street Analyst Weigh In

Several analysts have issued reports on CARR shares. Royal Bank Of Canada increased their target price on Carrier Global from $71.00 to $81.00 and gave the company an "outperform" rating in a research report on Friday, May 1st. Zacks Research upgraded Carrier Global from a "hold" rating to a "strong-buy" rating in a research note on Thursday. Barclays raised their price objective on Carrier Global from $67.00 to $79.00 and gave the company an "overweight" rating in a research report on Friday, May 1st. JPMorgan Chase & Co. boosted their target price on shares of Carrier Global from $63.00 to $67.00 and gave the stock a "neutral" rating in a report on Thursday, May 14th. Finally, Mizuho increased their price target on shares of Carrier Global from $67.00 to $75.00 in a research report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, Carrier Global has an average rating of "Moderate Buy" and a consensus target price 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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