Carrier Global Corporation $CARR Shares Acquired by Cohen Klingenstein LLC

Key Points

• Cohen Klingenstein LLC increased its Carrier Global position by 317.2% in the third quarter, acquiring 144,870 additional shares for a total holding of 190,538 shares valued at approximately $10.45 million. Institutional investors collectively own about 91% of the company.
• Carrier Global exceeded quarterly expectations with earnings per share of $0.86 versus the $0.82 consensus estimate, while revenue rose 3.9% year over year to $6.35 billion.
• The company declared a quarterly dividend of $0.24 per share, equivalent to an annualized $0.96 payout and a 1.7% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $70.43, despite some recent target cuts and Goldman Sachs’ downgrade to “Neutral.”

Cohen Klingenstein LLC lifted its position in Carrier Global Corporation (NYSE:CARR - Free Report) by 317.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 190,538 shares of the company's stock after acquiring an additional 144,870 shares during the quarter. Cohen Klingenstein LLC's holdings in Carrier Global were worth $10,453,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Dynamic Advisor Solutions LLC lifted its holdings in shares of Carrier Global by 2.8% during the 2nd quarter. Dynamic Advisor Solutions LLC now owns 5,801 shares of the company's stock valued at $426,000 after purchasing an additional 158 shares during the last quarter. Texas Bank & Trust Co raised its position in shares of Carrier Global by 1.3% in 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 last quarter. Personal CFO Solutions LLC boosted its stake in Carrier Global by 0.7% in the 1st quarter. Personal CFO Solutions LLC now owns 24,671 shares of the company's stock worth $1,389,000 after purchasing an additional 181 shares in the last quarter. PFG Investments LLC boosted its stake in Carrier Global by 2.8% in the 1st quarter. PFG Investments LLC now owns 7,242 shares of the company's stock worth $408,000 after purchasing an additional 198 shares in the last quarter. Finally, HORAN Wealth LLC boosted its stake in Carrier Global by 3.6% in the 1st quarter. HORAN Wealth LLC now owns 5,771 shares of the company's stock worth $306,000 after purchasing an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 91.00% of the company's stock.

Carrier Global Stock Up 1.5%

Carrier Global stock opened at $55.04 on Friday. 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 has a market capitalization of $45.37 billion, a PE ratio of 22.23, a price-to-earnings-growth ratio of 1.85 and a beta of 1.29. The business has a 50 day simple moving average of $57.78 and a 200-day simple moving average of $62.85. Carrier Global Corporation has a 12 month low of $50.24 and a 12 month high of $76.76.

Carrier Global (NYSE:CARR - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.04. Carrier Global had a net margin of 5.52% and a return on equity of 14.68%. The business had revenue of $6.35 billion during the quarter, compared to analysts' expectations of $6.02 billion. During the same quarter in the prior year, the company posted $0.92 EPS. The business's revenue for the quarter was up 3.9% on a year-over-year basis. 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 fiscal year.

Carrier Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 18th. Investors of record on Thursday, October 29th will be paid a dividend of $0.24 per share. The ex-dividend date is Thursday, October 29th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.7%. Carrier Global's payout ratio is presently 66.67%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on CARR shares. Wolfe Research reaffirmed an "outperform" rating and issued a $80.00 price target on shares of Carrier Global in a report on Thursday, July 9th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Carrier Global from $71.00 to $64.00 and set a "hold" rating on the stock in a report on Wednesday, September 30th. The Goldman Sachs Group downgraded Carrier Global from a "buy" rating to a "neutral" rating and cut their target price for the company from $74.00 to $61.00 in a research report on Wednesday. Wells Fargo & Company assumed coverage on Carrier Global in a research report on Thursday, September 24th. They set an "overweight" rating and a $67.00 price target for the company. Finally, Citigroup boosted their price target on Carrier Global from $79.00 to $80.00 and gave the company a "buy" rating in a research note on Monday, July 13th. Eleven research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, Carrier Global currently has an average rating of "Moderate Buy" and an average price target of $70.43.

Carrier Global News Roundup

Here are the key news stories impacting Carrier Global this week:

• Positive Sentiment: RBC maintained an Outperform rating despite lowering its price target from $82 to $72. The new target still implies substantial upside from recent trading levels. The report suggests RBC continues to see value in Carrier’s HVAC and building-systems businesses.
• Positive Sentiment: Mizuho also retained an Outperform rating, lowering its target from $75 to $70. That target represents approximately 27% potential upside and indicates that the firm expects Carrier’s longer-term fundamentals to improve.
• Neutral Sentiment: Recent analyst commentary continues to identify Carrier among notable HVAC and water-systems companies, supporting the view that demand for climate-control and energy-efficiency equipment remains an important long-term opportunity. Spotting winners: Carrier Global and HVAC and water systems stocks in Q2
• Negative Sentiment: Goldman Sachs downgraded Carrier Global from Buy to Neutral, prompting the immediate decline in the shares. The action signals less confidence in near-term upside after the stock’s prior performance and reinforces investor concerns about valuation and execution. Carrier Global Shares Fall After Goldman Sachs Downgrade

Carrier Global Company 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, heat pumps, building controls, and related equipment for residential, commercial and industrial customers. Its offerings are designed to support temperature control, indoor air quality, energy efficiency and building performance.

Carrier also provides refrigeration products and services for food retail, transportation and other applications.

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