Bank of America Corp DE Takes $572.91 Million Position in Carrier Global Corporation $CARR

Key Points

• Bank of America acquired 7.81 million Carrier Global shares worth approximately $572.9 million, representing a 0.95% stake. Institutional investors collectively own about 91% of the company.
• Analysts maintain a generally positive outlook, with Carrier receiving a “Moderate Buy” consensus rating and an average price target of $73.67; ratings include one Strong Buy, eleven Buys, and nine Holds.
• Carrier exceeded quarterly expectations, reporting $0.86 in earnings per share versus the $0.82 estimate and $6.35 billion in revenue. However, the stock opened at $55.54, below its 50-day and 200-day moving averages.

Bank of America Corp DE purchased a new position in shares of Carrier Global Corporation (NYSE:CARR - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 7,810,609 shares of the company's stock, valued at approximately $572,908,000. Bank of America Corp DE owned 0.95% of Carrier Global at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Dynamic Advisor Solutions LLC lifted its holdings in shares of Carrier Global by 2.8% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 5,801 shares of the company's stock worth $426,000 after buying an additional 158 shares during the period. Aigen Investment Management LP increased its stake in shares of Carrier Global by 0.3% during the fourth quarter. Aigen Investment Management LP now owns 49,268 shares of the company's stock valued at $2,603,000 after buying an additional 166 shares during the period. Advisory Alpha LLC increased its stake in shares of Carrier Global by 2.9% during the fourth quarter. Advisory Alpha LLC now owns 6,034 shares of the company's stock valued at $319,000 after buying an additional 171 shares during the period. Texas Bank & Trust Co increased its position in Carrier Global by 1.3% during the 1st quarter. Texas Bank & Trust Co now owns 13,176 shares of the company's stock valued at $742,000 after purchasing an additional 175 shares during the period. Finally, Personal CFO Solutions LLC boosted its stake in shares of Carrier Global by 0.7% during the first quarter. Personal CFO Solutions LLC now owns 24,671 shares of the company's stock valued at $1,389,000 after purchasing an additional 181 shares in the last quarter. 91.00% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CARR has been the topic of a number of analyst reports. Morgan Stanley lifted their price objective on shares of Carrier Global from $55.00 to $60.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 28th. Sanford C. Bernstein reaffirmed a "market perform" rating and issued a $78.00 price target on shares of Carrier Global in a report on Thursday, July 30th. Zacks Research raised Carrier Global from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 30th. Weiss Ratings reissued a "hold (c)" rating on shares of Carrier Global in a report on Monday, July 20th. Finally, Citigroup boosted their target price on shares of Carrier Global from $79.00 to $80.00 and gave the stock a "buy" rating in a research report on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, Carrier Global currently has an average rating of "Moderate Buy" and an average price target of $73.67.

Carrier Global Stock Performance

CARR opened at $55.54 on Wednesday. The firm has a market capitalization of $45.78 billion, a PE ratio of 38.57, a P/E/G ratio of 2.21 and a beta of 1.30. The firm has a 50 day moving average of $62.78 and a two-hundred day moving average of $63.41. Carrier Global Corporation has a 12-month low of $50.24 and a 12-month high of $76.76. 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 EPS for the quarter, beating the consensus estimate of $0.82 by $0.04. The company had revenue of $6.35 billion for 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%. The firm's revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.92 earnings per share. Carrier Global has set its FY 2026 guidance at 2.900-2.900 EPS. On average, analysts anticipate that Carrier Global Corporation will post 2.87 EPS for the current year.

Carrier Global 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 and related controls, building automation technologies, and services designed to improve indoor comfort, energy efficiency and building performance.

Carrier also provides refrigeration equipment and systems for commercial, industrial and transportation applications, supporting food preservation and cold-chain operations.

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