Carrier Global Corporation $CARR Shares Bought by Cardinal Capital Management Inc.

Key Points

• Cardinal Capital Management increased its Carrier Global position by 7.1% in the second quarter, bringing its holdings to 575,335 shares valued at approximately $42.2 million. Institutional investors and hedge funds collectively own about 91% of CARR.
• Analysts maintain a “Moderate Buy” consensus on Carrier Global, with an average price target of $73.67 versus the reported share price of $63.58; individual targets range as high as $80.
• Carrier exceeded quarterly expectations with $0.86 in EPS and $6.35 billion in revenue, while revenue rose 3.9% year over year. The company also pays a quarterly dividend of $0.24, or $0.96 annually, yielding about 1.5%.

Cardinal Capital Management Inc. raised its position in Carrier Global Corporation (NYSE:CARR - Free Report) by 7.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 575,335 shares of the company's stock after buying an additional 37,934 shares during the quarter. Carrier Global makes up approximately 1.0% of Cardinal Capital Management Inc.'s portfolio, making the stock its 29th biggest position. Cardinal Capital Management Inc. owned approximately 0.07% of Carrier Global worth $42,201,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the company. State Street Corp increased its holdings in shares of Carrier Global by 1.1% in the 4th quarter. State Street Corp now owns 33,728,829 shares of the company's stock valued at $1,782,231,000 after acquiring an additional 351,490 shares during the period. Morgan Stanley increased its stake in Carrier Global by 1.8% in the fourth quarter. Morgan Stanley now owns 11,757,449 shares of the company's stock valued at $621,264,000 after purchasing an additional 210,952 shares during the period. Norges Bank purchased a new stake in shares of Carrier Global in the fourth quarter valued at about $380,299,000. Fiera Capital Corp raised its holdings in shares of Carrier Global by 5.3% in the fourth quarter. Fiera Capital Corp now owns 6,923,485 shares of the company's stock valued at $365,837,000 after buying an additional 348,812 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of Carrier Global by 14.4% during the first quarter. Bank of America Corp DE now owns 6,592,682 shares of the company's stock worth $371,234,000 after buying an additional 831,327 shares during the period. 91.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on CARR shares. JPMorgan Chase & Co. raised their price target on Carrier Global from $63.00 to $67.00 and gave the stock a "neutral" rating in a report on Thursday, May 14th. BNP Paribas Exane started coverage on Carrier Global in a research note on Tuesday, April 14th. They set a "neutral" rating and a $62.00 price objective for the company. Robert W. Baird increased their price objective on Carrier Global from $70.00 to $75.00 in a research report on Friday, May 1st. Wolfe Research reiterated an "outperform" rating and issued a $80.00 target price on shares of Carrier Global in a research note on Thursday, July 9th. Finally, The Goldman Sachs Group boosted their target price on Carrier Global from $74.00 to $80.00 in a report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $73.67.

Carrier Global Price Performance

Shares of NYSE:CARR opened at $63.58 on Wednesday. The firm has a market capitalization of $52.41 billion, a price-to-earnings ratio of 44.15, a price-to-earnings-growth ratio of 2.45 and a beta of 1.31. 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 business's 50 day simple moving average is $68.47 and its 200-day simple moving average is $63.94. 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 released its quarterly earnings data 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. The firm had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.02 billion. Carrier Global had a return on equity of 14.68% and a net margin of 5.52%.Carrier Global's quarterly revenue was up 3.9% on a year-over-year basis. During the same period last year, the business posted $0.92 EPS. Carrier Global has set its FY 2026 guidance at 2.900-2.900 EPS. As a group, equities analysts forecast that Carrier Global Corporation will post 2.89 earnings per share for the current fiscal year.

Carrier Global Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Tuesday, July 21st were given a $0.24 dividend. The ex-dividend date was Tuesday, July 21st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.5%. Carrier Global's dividend payout ratio (DPR) is currently 66.67%.

About Carrier Global

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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