Carrier Global Corporation $CARR Shares Bought by Geneos Wealth Management Inc.

Key Points

• Geneos Wealth Management sharply increased its stake in Carrier Global, boosting holdings by 1,794.4% to 101,386 shares worth about $5.7 million in the first quarter.
• Several other institutional investors also added to or initiated positions, and hedge funds now own about 91% of Carrier Global’s stock.
• Analysts remain constructive on the company, with multiple firms raising price targets and the stock carrying a Moderate Buy consensus rating and average target price of $73.51.

Geneos Wealth Management Inc. lifted its holdings in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 1,794.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 101,386 shares of the company's stock after buying an additional 96,034 shares during the period. Geneos Wealth Management Inc.'s holdings in Carrier Global were worth $5,709,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in Carrier Global during the 4th quarter valued at approximately $380,299,000. Assenagon Asset Management S.A. lifted its position in Carrier Global by 461.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,460,321 shares of the company's stock worth $130,003,000 after acquiring an additional 2,022,136 shares during the period. Ontario Teachers Pension Plan Board purchased a new position in shares of Carrier Global in the 4th quarter valued at approximately $99,839,000. PineStone Asset Management Inc. grew its stake in shares of Carrier Global by 34.6% in the 4th quarter. PineStone Asset Management Inc. now owns 7,153,429 shares of the company's stock valued at $377,987,000 after purchasing an additional 1,837,985 shares during the last quarter. Finally, Voloridge Investment Management LLC increased its holdings in shares of Carrier Global by 865.3% in the fourth quarter. Voloridge Investment Management LLC now owns 1,974,350 shares of the company's stock valued at $104,325,000 after purchasing an additional 1,769,813 shares during the period. Hedge funds and other institutional investors own 91.00% of the company's stock.

Analyst Ratings Changes

CARR has been the subject of several analyst reports. Citigroup upped their price target on Carrier Global from $79.00 to $80.00 and gave the stock a "buy" rating in a research note on Monday. Argus lifted their price objective on shares of Carrier Global from $72.00 to $75.00 and gave the company a "buy" rating in a research report on Tuesday, May 5th. The Goldman Sachs Group boosted their price objective on shares of Carrier Global from $74.00 to $80.00 in a research note on Friday, May 1st. Weiss Ratings upgraded shares of Carrier Global from a "hold (c-)" rating to a "hold (c)" rating in a research report on Wednesday, April 22nd. Finally, Rothschild & Co Redburn raised their target price on shares of Carrier Global from $61.00 to $73.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 5th. Twelve investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $73.51.

Carrier Global Trading Up 0.9%

NYSE:CARR opened at $69.33 on Friday. The company has a market capitalization of $57.58 billion, a PE ratio of 45.61, a price-to-earnings-growth ratio of 2.75 and a beta of 1.31. The company has a quick ratio of 0.75, a current ratio of 1.05 and a debt-to-equity ratio of 0.76. Carrier Global Corporation has a 52-week low of $50.24 and a 52-week high of $81.09. The stock has a fifty day simple moving average of $68.23 and a 200-day simple moving average of $62.60.

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

Carrier Global Dividend Announcement

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

Carrier Global 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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