Carrier Global Corporation $CARR Shares Sold by Handelsbanken Fonder AB

Key Points

• Handelsbanken Fonder AB cut its Carrier Global stake by 16% in the second quarter, selling 31,568 shares and retaining 165,726 shares valued at approximately $12.2 million.
• Institutional investors and hedge funds own about 91% of Carrier Global, with major holders including State Street, Morgan Stanley, Norges Bank, Fiera Capital and Bank of America.
• Carrier exceeded quarterly earnings and revenue expectations, reported $0.86 EPS on $6.35 billion in revenue, and paid a $0.24 quarterly dividend. Analysts maintain a “Moderate Buy” consensus with an average price target of $73.67.

Handelsbanken Fonder AB reduced its stake in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 16.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 165,726 shares of the company's stock after selling 31,568 shares during the quarter. Handelsbanken Fonder AB's holdings in Carrier Global were worth $12,156,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CARR. State Street Corp boosted its stake in shares of Carrier Global by 1.1% in the fourth quarter. State Street Corp now owns 33,728,829 shares of the company's stock valued at $1,782,231,000 after purchasing an additional 351,490 shares during the period. Morgan Stanley grew its position in shares of Carrier Global by 1.8% during the fourth quarter. Morgan Stanley now owns 11,757,449 shares of the company's stock worth $621,264,000 after buying an additional 210,952 shares in the last quarter. Norges Bank bought a new stake in shares of Carrier Global in the fourth quarter worth $380,299,000. Fiera Capital Corp increased its stake 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 worth $365,837,000 after buying an additional 348,812 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in shares of Carrier Global by 14.4% in 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 last quarter. 91.00% of the stock is owned by institutional investors and hedge funds.

Carrier Global Stock Up 0.5%

CARR stock opened at $63.40 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. Carrier Global Corporation has a 1-year low of $50.24 and a 1-year high of $76.76. The firm has a fifty day moving average price of $68.27 and a two-hundred day moving average price of $64.02. The firm has a market cap of $52.26 billion, a price-to-earnings ratio of 44.03, a PEG ratio of 2.33 and a beta of 1.31.

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 (EPS) for the quarter, topping analysts' consensus estimates 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 last 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. Research analysts predict that Carrier Global Corporation will post 2.89 EPS for the current year.

Carrier Global Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Tuesday, July 21st were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Tuesday, July 21st. Carrier Global's payout ratio is presently 66.67%.

Analysts Set New Price Targets

A number of research firms have commented on CARR. 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. Rothschild & Co Redburn boosted their target price on shares of Carrier Global from $61.00 to $73.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 5th. Royal Bank Of Canada upped their target price on shares of Carrier Global from $71.00 to $81.00 and gave the company an "outperform" rating in a research note on Friday, May 1st. Barclays increased their price target on shares of Carrier Global from $67.00 to $79.00 and gave the stock an "overweight" rating in a research report on Friday, May 1st. Finally, Zacks Research upgraded Carrier Global from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, Carrier Global currently has a consensus rating of "Moderate Buy" and an average target price of $73.67.

Carrier Global Company 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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