Beacon Pointe Advisors LLC Invests $3.24 Million in Carrier Global Corporation $CARR

Beacon Pointe Advisors LLC bought a new position in shares of Carrier Global Corporation (NYSE:CARR - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 44,246 shares of the company's stock, valued at approximately $3,244,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Torren Management LLC bought a new position in shares of Carrier Global during the 4th quarter valued at about $25,000. Johnson Financial Group Inc. bought a new stake in shares of Carrier Global in the second quarter worth about $25,000. Meeder Asset Management Inc. purchased a new stake in shares of Carrier Global in the second quarter worth about $26,000. Financial Management Professionals Inc. lifted its position in shares of Carrier Global by 142.4% in the second quarter. Financial Management Professionals Inc. now owns 383 shares of the company's stock worth $28,000 after buying an additional 225 shares in the last quarter. Finally, Garton & Associates Financial Advisors LLC bought a new position in Carrier Global during the fourth quarter valued at approximately $33,000. Institutional investors own 91.00% of the company's stock.

Analyst Ratings Changes

Several equities analysts have weighed in on CARR shares. JPMorgan Chase & Co. raised their price target on Carrier Global from $63.00 to $67.00 and gave the company a "neutral" rating in a report on Thursday, May 14th. Zacks Research raised Carrier Global from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 30th. Rothschild & Co Redburn increased their target price on Carrier Global from $61.00 to $73.00 and gave the company a "neutral" rating in a research report on Tuesday, May 5th. Sanford C. Bernstein reissued a "market perform" rating and issued a $78.00 target price on shares of Carrier Global in a report on Thursday, July 30th. Finally, Morgan Stanley boosted their price target 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. One equities research 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. Based on data from MarketBeat, Carrier Global has an average rating of "Moderate Buy" and a consensus target price of $73.67.

Carrier Global Trading Down 0.2%

Shares of CARR stock opened at $58.73 on Friday. Carrier Global Corporation has a 1 year low of $50.24 and a 1 year high of $76.76. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.02 and a quick ratio of 0.72. The stock's 50 day simple moving average is $66.15 and its two-hundred day simple moving average is $63.98. The company has a market cap of $48.41 billion, a PE ratio of 40.78, a price-to-earnings-growth ratio of 2.17 and a beta of 1.31.

Carrier Global (NYSE:CARR - Get Free Report) last announced its earnings results on Tuesday, July 28th. The company reported $0.86 EPS for the quarter, topping analysts' consensus estimates of $0.82 by $0.04. The firm had revenue of $6.35 billion during the quarter, compared to analysts' expectations of $6.02 billion. Carrier Global had a return on equity of 14.68% and a net margin of 5.52%.The company's quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.92 EPS. Carrier Global has set its FY 2026 guidance at 2.900-2.900 EPS. Research analysts predict that Carrier Global Corporation will post 2.87 earnings per share for the current year.

Carrier Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Tuesday, July 21st were paid 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 payout ratio is presently 66.67%.

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source