California State Teachers Retirement System Buys 80,403,966 Shares of Carrier Global Corporation $CARR

Key Points

• California State Teachers Retirement System increased its Carrier Global stake by 6,864.2%, purchasing 80.4 million additional shares. It now owns 81.6 million shares, or approximately 9.9% of the company, valued at $5.98 billion.
• Analysts maintain a generally positive outlook, with Carrier holding a consensus “Moderate Buy” rating and an average price target of $73.67. Ratings include one Strong Buy, 12 Buys, and nine Holds.
• Carrier exceeded quarterly expectations with adjusted EPS of $0.86 versus the $0.82 estimate and revenue of $6.35 billion versus $6.02 billion expected. Revenue increased 3.9% year over year, while shares recently opened at $57.98.

California State Teachers Retirement System increased its stake in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 6,864.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,575,322 shares of the company's stock after buying an additional 80,403,966 shares during the quarter. California State Teachers Retirement System owned about 9.90% of Carrier Global worth $5,983,550,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Johnson Financial Group Inc. acquired a new position in Carrier Global in the 2nd quarter valued at $25,000. Meeder Asset Management Inc. bought a new position in shares of Carrier Global in the second quarter worth $26,000. Financial Management Professionals Inc. increased 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 purchasing an additional 225 shares during the period. Burnham & Co LLC acquired a new position in Carrier Global in the second quarter valued at about $37,000. Finally, Garton & Associates Financial Advisors LLC acquired a new position in Carrier Global in the fourth quarter valued at about $33,000. Institutional investors own 91.00% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CARR shares. Sanford C. Bernstein reiterated a "market perform" rating and set a $78.00 price objective on shares of Carrier Global in a research note on Thursday, July 30th. Citigroup boosted their target price on shares of Carrier Global from $79.00 to $80.00 and gave the company a "buy" rating in a research report on Monday, July 13th. Zacks Research raised shares of Carrier Global from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 30th. JPMorgan Chase & Co. increased their price target on shares of Carrier Global from $63.00 to $67.00 and gave the stock a "neutral" rating in a research report on Thursday, May 14th. Finally, Wolfe Research reissued an "outperform" rating and issued a $80.00 price objective on shares of Carrier Global in a research note on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $73.67.

Carrier Global Price Performance

Shares of CARR stock opened at $57.98 on Thursday. The business has a fifty day simple moving average of $63.82 and a 200 day simple moving average of $63.59. The company has a market cap of $47.79 billion, a P/E ratio of 40.26, a P/E/G ratio of 2.28 and a beta of 1.30. The company has a quick ratio of 0.72, a current ratio of 1.02 and a debt-to-equity ratio of 0.77. Carrier Global Corporation has a twelve month low of $50.24 and a twelve month high of $76.76.

Carrier Global (NYSE:CARR - Get Free Report) last released its earnings results on Tuesday, July 28th. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.82 by $0.04. The firm had revenue of $6.35 billion for 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 business's revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.92 earnings per share. Carrier Global has set its FY 2026 guidance at 2.900-2.900 EPS. On average, sell-side analysts forecast that Carrier Global Corporation will post 2.87 EPS for the current fiscal 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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