Carrier Global Corporation $CARR Stock: First Citizens Bank & Trust Co. Boosts Position

Key Points

• First Citizens Bank & Trust Co. increased its Carrier Global stake by 528.5% in the third quarter, bringing its holdings to 40,866 shares valued at approximately $2.24 million. Institutional investors collectively own about 91% of the company.
• Analyst sentiment is moderately bullish, with 11 Buy ratings and 10 Hold ratings. The consensus price target is $70.71, although recent targets range from $61 to $80.
• Carrier Global’s stock opened at $54.21, near its 52-week low, despite quarterly earnings and revenue exceeding estimates. The company also declared a quarterly dividend of $0.24 per share, equivalent to a 1.8% annualized yield.

First Citizens Bank & Trust Co. raised its holdings in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 528.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 40,866 shares of the company's stock after buying an additional 34,364 shares during the quarter. First Citizens Bank & Trust Co.'s holdings in Carrier Global were worth $2,242,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Dynamic Advisor Solutions LLC boosted its holdings in shares of Carrier Global by 2.8% during the second quarter. Dynamic Advisor Solutions LLC now owns 5,801 shares of the company's stock worth $426,000 after purchasing an additional 158 shares during the period. Texas Bank & Trust Co increased its stake in shares of Carrier Global by 1.3% during the first quarter. Texas Bank & Trust Co now owns 13,176 shares of the company's stock valued at $742,000 after purchasing an additional 175 shares in the last quarter. Personal CFO Solutions LLC raised its stake in Carrier Global by 0.7% during the first quarter. Personal CFO Solutions LLC now owns 24,671 shares of the company's stock valued at $1,389,000 after buying an additional 181 shares during the last quarter. PFG Investments LLC raised its position in shares of Carrier Global by 2.8% in the 1st quarter. PFG Investments LLC now owns 7,242 shares of the company's stock worth $408,000 after purchasing an additional 198 shares during the last quarter. Finally, HORAN Wealth LLC raised its holdings in Carrier Global by 3.6% in the first quarter. HORAN Wealth LLC now owns 5,771 shares of the company's stock worth $306,000 after buying an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 91.00% of the company's stock.

Analysts Set New Price Targets

CARR has been the topic of several recent analyst reports. Wells Fargo & Company began coverage on Carrier Global in a research report on Thursday, September 24th. They set an "overweight" rating and a $67.00 price objective on the stock. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Carrier Global in a research note on Monday, July 20th. Sanford C. Bernstein cut their price target on Carrier Global from $78.00 to $64.00 and set a "market perform" rating for the company in a research note on Wednesday, October 7th. Citigroup upped their price objective on Carrier Global from $79.00 to $80.00 and gave the stock a "buy" rating in a research note on Monday, July 13th. Finally, JPMorgan Chase & Co. initiated coverage on Carrier Global in a research report on Friday, October 9th. They set a "neutral" rating and a $61.00 target price for the company. Eleven analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $70.71.

Carrier Global Stock Down 1.5%

CARR stock opened at $54.21 on Thursday. The company has a quick ratio of 0.72, a current ratio of 1.02 and a debt-to-equity ratio of 0.77. The firm has a 50 day moving average of $57.96 and a 200 day moving average of $62.84. The stock has a market capitalization of $44.68 billion, a PE ratio of 37.64, a price-to-earnings-growth ratio of 1.88 and a beta of 1.29. Carrier Global Corporation has a 52 week low of $50.24 and a 52 week high of $76.76.

Carrier Global (NYSE:CARR - Get Free Report) last posted its earnings results on Tuesday, July 28th. The company reported $0.86 earnings per share (EPS) 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 analysts' expectations of $6.02 billion. Carrier Global had a net margin of 5.52% and a return on equity of 14.68%. The business's revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.92 EPS. Carrier Global has set its FY 2026 guidance at 2.900-2.900 EPS. Sell-side analysts forecast that Carrier Global Corporation will post 2.87 earnings per share for the current year.

Carrier Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 18th. Investors of record on Thursday, October 29th will be issued a $0.24 dividend. The ex-dividend date is Thursday, October 29th. This represents a $0.96 dividend on an annualized basis and a yield of 1.8%. 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.

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