Carrier Global Corporation $CARR Shares Bought by Reynders McVeigh Capital Management LLC

Key Points

• Reynders McVeigh Capital Management increased its Carrier Global stake by 3% in the second quarter, purchasing 27,061 shares to reach 918,219 shares valued at approximately $67.4 million.
• Carrier Global shares fell 3% to $55.54, well below their 12-month high of $76.76. Institutional investors and hedge funds own approximately 91% of the company.
• Carrier exceeded quarterly expectations, reporting $0.86 in adjusted earnings per share and $6.35 billion in revenue, while analysts maintained a Moderate Buy consensus with an average price target of $73.67.

Reynders McVeigh Capital Management LLC boosted its holdings in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 3.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 918,219 shares of the company's stock after purchasing an additional 27,061 shares during the quarter. Carrier Global makes up approximately 2.7% of Reynders McVeigh Capital Management LLC's holdings, making the stock its 13th largest holding. Reynders McVeigh Capital Management LLC owned about 0.11% of Carrier Global worth $67,351,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Johnson Financial Group Inc. acquired a new position in Carrier Global in the 2nd quarter worth about $25,000. Meeder Asset Management Inc. bought a new stake in Carrier Global in the second quarter worth $26,000. Financial Management Professionals Inc. increased its position in Carrier Global by 142.4% during the second quarter. Financial Management Professionals Inc. now owns 383 shares of the company's stock worth $28,000 after buying an additional 225 shares during the last quarter. Burnham & Co LLC acquired a new position in Carrier Global during the second quarter worth $37,000. Finally, Signature Equity Partners LLC raised its holdings in Carrier Global by 449.2% during the first quarter. Signature Equity Partners LLC now owns 648 shares of the company's stock valued at $36,000 after buying an additional 530 shares in the last quarter. 91.00% of the stock is owned by institutional investors and hedge funds.

Carrier Global Stock Down 3.0%

NYSE:CARR traded down $1.72 during trading hours on Tuesday, reaching $55.54. 13,266,116 shares of the stock were exchanged, compared to its average volume of 6,795,250. The stock has a market cap of $45.78 billion, a PE ratio of 38.57, a PEG ratio of 2.21 and a beta of 1.30. Carrier Global Corporation has a twelve month low of $50.24 and a twelve month high of $76.76. The firm has a 50 day moving average of $62.78 and a 200 day moving average of $63.41. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.02 and a quick ratio of 0.72.

Carrier Global (NYSE:CARR - Get Free Report) last issued its quarterly 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 firm had revenue of $6.35 billion for the quarter, compared to analysts' expectations of $6.02 billion. During the same period in the previous year, the firm posted $0.92 EPS. The company'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, equities analysts expect that Carrier Global Corporation will post 2.87 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Zacks Research raised Carrier Global from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 30th. Weiss Ratings restated a "hold (c)" rating on shares of Carrier Global in a research note on Monday, July 20th. Citigroup increased their price objective on shares of Carrier Global from $79.00 to $80.00 and gave the company a "buy" rating in a research note on Monday, July 13th. Wolfe Research restated an "outperform" rating and set a $80.00 target price on shares of Carrier Global in a research report on Thursday, July 9th. Finally, Morgan Stanley boosted their price target on shares of Carrier Global from $55.00 to $60.00 and gave the company an "equal weight" rating in a research report on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $73.67.

About Carrier Global

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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