Citizens Financial Group Inc. RI Takes $1.66 Million Position in Carrier Global Corporation $CARR

Key Points

• Citizens Financial Group acquired 22,637 shares of Carrier Global worth approximately $1.66 million during the second quarter. Institutional investors collectively own about 91% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $73.67; several firms recently raised their targets.
• Carrier Global exceeded quarterly expectations with $0.86 in EPS and $6.35 billion in revenue, while paying a quarterly dividend of $0.24, equivalent to a 1.6% annual yield.

Citizens Financial Group Inc. RI acquired a new position in shares of Carrier Global Corporation (NYSE:CARR - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 22,637 shares of the company's stock, valued at approximately $1,660,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Pavion Blue Capital LLC bought a new stake in Carrier Global during the 2nd quarter valued at $346,000. Grandfield & Dodd LLC acquired a new position in Carrier Global during the 2nd quarter worth $315,000. MidFirst Bank bought a new position in shares of Carrier Global in the second quarter worth $98,000. Pallas Capital Advisors LLC bought a new position in shares of Carrier Global in the second quarter worth $263,000. Finally, Deutsche Bank AG acquired a new position in shares of Carrier Global during the second quarter valued at $166,165,000. 91.00% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Mizuho upped their price objective on shares of Carrier Global from $67.00 to $75.00 in a report on Friday, May 1st. Barclays raised their target price on shares of Carrier Global from $67.00 to $79.00 and gave the company an "overweight" rating in a research note on Friday, May 1st. Wells Fargo & Company boosted their price target on shares of Carrier Global from $58.00 to $71.00 in a research report on Friday, May 1st. Zacks Research raised shares of Carrier Global from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 30th. Finally, Morgan Stanley upped their price target on shares of Carrier Global from $55.00 to $60.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $73.67.

Carrier Global Trading Down 1.9%

Shares of Carrier Global stock opened at $61.38 on Wednesday. The business has a fifty day simple moving average of $67.89 and a 200-day simple moving average of $64.12. Carrier Global Corporation has a fifty-two week low of $50.24 and a fifty-two week high of $76.76. The firm has a market cap of $50.59 billion, a price-to-earnings ratio of 42.62, a price-to-earnings-growth ratio of 2.32 and a beta of 1.31. The company has a quick ratio of 0.72, a current ratio of 1.02 and a debt-to-equity ratio of 0.77.

Carrier Global (NYSE:CARR - Get Free Report) last released its 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 return on equity of 14.68% and a net margin of 5.52%.The firm had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.02 billion. During the same period in the previous year, the company earned $0.92 earnings per share. Carrier Global's revenue was up 3.9% compared to the same quarter last year. Carrier Global has set its FY 2026 guidance at 2.900-2.900 EPS. On average, equities analysts forecast that Carrier Global Corporation will post 2.89 EPS for the current fiscal year.

Carrier Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Tuesday, July 21st were paid a $0.24 dividend. The ex-dividend date of this dividend was Tuesday, July 21st. This represents a $0.96 annualized dividend and a dividend yield of 1.6%. Carrier Global's payout ratio is currently 66.67%.

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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