Confluence Investment Management LLC Has $34.68 Million Holdings in Carrier Global Corporation $CARR

Key Points

• Confluence Investment Management cut its Carrier Global position by 7.5% in the second quarter, selling 38,359 shares and retaining 472,778 shares valued at approximately $34.68 million. Institutional investors and hedge funds collectively own about 91% of the company.
• Carrier Global reported quarterly earnings of $0.86 per share, beating estimates of $0.82, while revenue rose 3.9% year over year to $6.35 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $73.67.
• The company declared a quarterly dividend of $0.24 per share, equivalent to $0.96 annually and a 1.5% yield. Shares opened at $63.21, compared with a 52-week range of $50.24 to $76.76.

Confluence Investment Management LLC trimmed its position in Carrier Global Corporation (NYSE:CARR - Free Report) by 7.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 472,778 shares of the company's stock after selling 38,359 shares during the period. Confluence Investment Management LLC owned approximately 0.06% of Carrier Global worth $34,678,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Brighton Jones LLC grew its stake in shares of Carrier Global by 30.3% during the 4th quarter. Brighton Jones LLC now owns 7,958 shares of the company's stock worth $543,000 after acquiring an additional 1,850 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Carrier Global by 51.5% in the first quarter. AQR Capital Management LLC now owns 68,225 shares of the company's stock worth $4,236,000 after purchasing an additional 23,200 shares in the last quarter. United Bank lifted its position in shares of Carrier Global by 41.2% in the second quarter. United Bank now owns 16,991 shares of the company's stock worth $1,244,000 after purchasing an additional 4,956 shares in the last quarter. Schnieders Capital Management LLC. boosted its holdings in Carrier Global by 33.7% during the second quarter. Schnieders Capital Management LLC. now owns 16,967 shares of the company's stock worth $1,242,000 after purchasing an additional 4,277 shares during the last quarter. Finally, Guggenheim Capital LLC boosted its holdings in Carrier Global by 6.0% during the second quarter. Guggenheim Capital LLC now owns 9,903 shares of the company's stock worth $725,000 after purchasing an additional 561 shares during the last quarter. 91.00% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Wells Fargo & Company raised their price objective on Carrier Global from $58.00 to $71.00 in a report on Friday, May 1st. Sanford C. Bernstein reiterated a "market perform" rating and set a $78.00 target price on shares of Carrier Global in a report on Thursday. JPMorgan Chase & Co. increased their price target on Carrier Global from $63.00 to $67.00 and gave the company a "neutral" rating in a research report on Thursday, May 14th. Weiss Ratings restated a "hold (c)" rating on shares of Carrier Global in a research note on Monday, July 20th. Finally, Mizuho boosted their price target on Carrier Global from $67.00 to $75.00 in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $73.67.

Carrier Global Trading Up 2.3%

Shares of Carrier Global stock opened at $63.21 on Tuesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.02 and a quick ratio of 0.72. The business has a fifty day simple moving average of $68.52 and a two-hundred day simple moving average of $63.59. Carrier Global Corporation has a 1 year low of $50.24 and a 1 year high of $76.76. The company has a market capitalization of $52.11 billion, a price-to-earnings ratio of 43.90, a P/E/G ratio of 2.39 and a beta of 1.31.

Carrier Global (NYSE:CARR - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The company reported $0.86 earnings per share for the quarter, beating 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 prior year, the firm earned $0.92 EPS. The business's revenue 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 forecast that Carrier Global Corporation will post 2.88 EPS for the current year.

Carrier Global Dividend Announcement

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

Carrier Global 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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