Bank of New York Mellon Corp Has $271.86 Million Stock Position in Carrier Global Corporation $CARR

Key Points

• Bank of New York Mellon reduced its Carrier Global stake by 1.6% in the first quarter, but still held 4.83 million shares valued at about $271.9 million at quarter-end.
• Carrier Global reported better-than-expected Q1 earnings, posting $0.57 EPS on $5.34 billion in revenue, both ahead of analyst estimates, while revenue rose 2.4% year over year.
• Analysts remain broadly positive on the stock, with a Moderate Buy consensus and an average price target of $73.51; the company also announced a quarterly dividend of $0.24 per share.

Bank of New York Mellon Corp trimmed its holdings in Carrier Global Corporation (NYSE:CARR - Free Report) by 1.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,827,965 shares of the company's stock after selling 76,183 shares during the period. Bank of New York Mellon Corp owned 0.58% of Carrier Global worth $271,863,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. KERR FINANCIAL PLANNING Corp acquired a new stake in Carrier Global during the third quarter worth approximately $25,000. Torren Management LLC acquired a new position in Carrier Global during the fourth quarter worth about $25,000. YANKCOM Partnership raised its stake in Carrier Global by 78.5% during the fourth quarter. YANKCOM Partnership now owns 473 shares of the company's stock worth $25,000 after acquiring an additional 208 shares in the last quarter. True Wealth Design LLC lifted its holdings in shares of Carrier Global by 723.7% in the fourth quarter. True Wealth Design LLC now owns 486 shares of the company's stock worth $26,000 after acquiring an additional 427 shares during the last quarter. Finally, Global Wealth Strategies & Associates boosted its stake in shares of Carrier Global by 150.0% in the 4th quarter. Global Wealth Strategies & Associates now owns 500 shares of the company's stock valued at $26,000 after purchasing an additional 300 shares in the last quarter. 91.00% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CARR has been the topic of a number of research reports. Zacks Research upgraded Carrier Global from a "strong sell" rating to a "hold" rating in a research report on Tuesday, April 7th. Evercore lifted their price target on Carrier Global from $75.00 to $85.00 in a research note on Friday, May 1st. Wells Fargo & Company boosted their price target on Carrier Global from $58.00 to $71.00 in a report on Friday, May 1st. JPMorgan Chase & Co. upped their price objective on Carrier Global from $63.00 to $67.00 and gave the company a "neutral" rating in a research note on Thursday, May 14th. Finally, The Goldman Sachs Group raised their price objective on shares of Carrier Global from $74.00 to $80.00 in a report on Friday, May 1st. Twelve investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat, Carrier Global has a consensus rating of "Moderate Buy" and an average price target of $73.51.

Carrier Global Stock Performance

NYSE CARR opened at $68.71 on Friday. The company has a market cap of $57.07 billion, a P/E ratio of 45.20, a PEG ratio of 2.78 and a beta of 1.31. The company has a fifty day simple moving average of $68.27 and a 200 day simple moving average of $62.64. The company has a current ratio of 1.05, a quick ratio of 0.75 and a debt-to-equity ratio of 0.76. Carrier Global Corporation has a 12-month low of $50.24 and a 12-month high of $81.09.

Carrier Global (NYSE:CARR - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The company reported $0.57 EPS for the quarter, beating analysts' consensus estimates of $0.51 by $0.06. The business had revenue of $5.34 billion during the quarter, compared to analyst estimates of $5.01 billion. Carrier Global had a return on equity of 14.81% and a net margin of 5.99%.Carrier Global's quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.65 EPS. Carrier Global has set its FY 2026 guidance at 2.800-2.800 EPS. Sell-side analysts predict that Carrier Global Corporation will post 2.79 earnings per share for the current fiscal year.

Carrier Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, July 21st will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, July 21st. Carrier Global's dividend payout ratio is presently 63.16%.

Carrier Global Company 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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