Carrier Global Corporation $CARR Shares Bought by NorthCrest Asset Manangement LLC

Key Points

• NorthCrest Asset Management increased its Carrier Global stake by 32.2% in the third quarter, bringing its holdings to 98,165 shares valued at approximately $5.4 million. Institutional investors collectively own about 91% of CARR.
• Analyst sentiment remains moderately bullish, with 12 Buy ratings and nine Holds and an average price target of $71.93, despite several recent target-price reductions.
• Carrier reported quarterly earnings of $0.86 per share on $6.35 billion in revenue, beating estimates, and declared a quarterly dividend of $0.24 per share, representing a 1.7% annualized yield.

NorthCrest Asset Manangement LLC lifted its holdings in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 32.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 98,165 shares of the company's stock after purchasing an additional 23,922 shares during the quarter. NorthCrest Asset Manangement LLC's holdings in Carrier Global were worth $5,385,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Armstrong Advisory Group Inc. lifted its position in Carrier Global by 43.9% during the third quarter. Armstrong Advisory Group Inc. now owns 938 shares of the company's stock valued at $51,000 after purchasing an additional 286 shares during the last quarter. Jacobs & Co. CA increased its holdings in shares of Carrier Global by 23.4% in the 3rd quarter. Jacobs & Co. CA now owns 201,222 shares of the company's stock worth $11,039,000 after buying an additional 38,131 shares during the last quarter. GK Wealth Management LLC bought a new position in shares of Carrier Global in the 3rd quarter worth $58,000. Lincoln Capital LLC increased its holdings in shares of Carrier Global by 5.0% in the 3rd quarter. Lincoln Capital LLC now owns 153,236 shares of the company's stock worth $8,427,000 after buying an additional 7,301 shares during the last quarter. Finally, Riversedge Advisors LLC purchased a new stake in shares of Carrier Global during the 3rd quarter valued at $283,000. 91.00% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on CARR shares. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Carrier Global in a report on Monday, July 20th. Sanford C. Bernstein reduced their target price on Carrier Global from $78.00 to $64.00 and set a "market perform" rating on the stock in a research note on Wednesday, October 7th. Deutsche Bank Aktiengesellschaft lowered their price target on Carrier Global from $71.00 to $64.00 and set a "hold" rating on the stock in a research report on Wednesday, September 30th. The Goldman Sachs Group dropped their price target on Carrier Global from $85.00 to $74.00 and set a "buy" rating for the company in a research note on Wednesday, September 30th. Finally, Zacks Research cut Carrier Global from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 1st. Twelve research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $71.93.

Carrier Global Stock Down 0.8%

Shares of Carrier Global stock opened at $54.99 on Wednesday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.72 and a current ratio of 1.02. Carrier Global Corporation has a 52-week low of $50.24 and a 52-week high of $76.76. The stock has a market capitalization of $45.33 billion, a price-to-earnings ratio of 38.19, a P/E/G ratio of 1.89 and a beta of 1.29. The company's 50 day moving average price is $58.18 and its 200-day moving average price is $62.84.

Carrier Global (NYSE:CARR - Get Free Report) last issued its earnings results on Tuesday, July 28th. The company reported $0.86 EPS for the quarter, topping 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 company had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.02 billion. During the same period in the previous year, the firm earned $0.92 earnings per share. The firm'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. Equities research analysts forecast that Carrier Global Corporation will post 2.87 EPS for the current year.

Carrier Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 18th. Shareholders of record on Thursday, October 29th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Thursday, October 29th. Carrier Global's dividend payout ratio (DPR) is 66.67%.

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, 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.

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.