Commerce Bank Makes New Investment in Carrier Global Corporation $CARR

Key Points

• Commerce Bank purchased 155,545 shares of Carrier Global in the second quarter, valued at approximately $11.4 million. Institutional investors collectively own about 91% of the company.
• Analysts maintain a generally positive outlook, with Carrier Global receiving a consensus rating of “Moderate Buy” and an average price target of $73.67, compared with its reported opening price of $60.40.
• Carrier Global exceeded quarterly expectations, reporting $0.86 in EPS on $6.35 billion in revenue, while maintaining a quarterly dividend of $0.24 per share, equivalent to a 1.6% annualized yield.

Commerce Bank purchased a new stake in Carrier Global Corporation (NYSE:CARR - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund purchased 155,545 shares of the company's stock, valued at approximately $11,409,000.

A number of other large investors also recently made changes to their positions in the business. Dynamic Advisor Solutions LLC grew its position in shares of Carrier Global by 2.8% in the second quarter. Dynamic Advisor Solutions LLC now owns 5,801 shares of the company's stock valued at $426,000 after purchasing an additional 158 shares during the period. Aigen Investment Management LP lifted its position in Carrier Global by 0.3% during the fourth quarter. Aigen Investment Management LP now owns 49,268 shares of the company's stock worth $2,603,000 after buying an additional 166 shares during the period. Advisory Alpha LLC boosted its stake in Carrier Global by 2.9% in the 4th quarter. Advisory Alpha LLC now owns 6,034 shares of the company's stock worth $319,000 after buying an additional 171 shares during the last quarter. Texas Bank & Trust Co boosted its stake in Carrier Global by 1.3% in the 1st quarter. Texas Bank & Trust Co now owns 13,176 shares of the company's stock worth $742,000 after buying an additional 175 shares during the last quarter. Finally, Advisor OS LLC grew its holdings in Carrier Global by 0.8% in the 4th quarter. Advisor OS LLC now owns 21,477 shares of the company's stock valued at $1,135,000 after buying an additional 178 shares during the period. Hedge funds and other institutional investors own 91.00% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Argus increased their price objective on shares of Carrier Global from $72.00 to $75.00 and gave the stock a "buy" rating in a report on Tuesday, May 5th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Carrier Global in a research report on Monday, July 20th. Rothschild & Co Redburn increased their price target on shares of Carrier Global from $61.00 to $73.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 5th. Citigroup increased their price target on shares of Carrier Global from $79.00 to $80.00 and gave the stock a "buy" rating in a research note on Monday, July 13th. Finally, Wolfe Research reiterated an "outperform" rating and issued a $80.00 price target on shares of Carrier Global in a report on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $73.67.

Carrier Global Trading Up 0.0%

Shares of CARR stock opened at $60.40 on Monday. 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 Corporation has a fifty-two week low of $50.24 and a fifty-two week high of $76.76. The firm's 50 day moving average price is $67.37 and its two-hundred day moving average price is $64.14. The stock has a market cap of $49.79 billion, a price-to-earnings ratio of 41.94, a price-to-earnings-growth ratio of 2.23 and a beta of 1.31.

Carrier Global (NYSE:CARR - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The company reported $0.86 earnings per share (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 during the quarter, compared to analyst estimates of $6.02 billion. During the same quarter in the prior year, the business earned $0.92 earnings per share. The business's quarterly 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, analysts anticipate that Carrier Global Corporation will post 2.89 EPS for the current year.

Carrier Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Tuesday, July 21st were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Tuesday, July 21st. 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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