Dockside LLC Takes Position in Carrier Global Corporation $CARR

Key Points

• Dockside LLC purchased 32,496 shares of Carrier Global during the second quarter, valued at approximately $2.38 million. Institutional investors and hedge funds collectively own about 91% of the company.
• Carrier Global reported quarterly EPS of $0.86, exceeding estimates of $0.82, while revenue reached $6.35 billion, up 3.9% year over year and above expectations.
• The stock opened at $62.78, below its 50-day moving average, while analysts maintain a consensus “Moderate Buy” rating with an average price target of $73.67. The company also pays a quarterly dividend of $0.24 per share, yielding approximately 1.5%.

Dockside LLC bought a new position in shares of Carrier Global Corporation (NYSE:CARR - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 32,496 shares of the company's stock, valued at approximately $2,384,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Whitener Capital Management Inc. purchased a new position in shares of Carrier Global in the 2nd quarter valued at $222,000. Cardinal Capital Management Inc. boosted its stake in Carrier Global by 7.1% in the second quarter. Cardinal Capital Management Inc. now owns 575,335 shares of the company's stock valued at $42,201,000 after acquiring an additional 37,934 shares in the last quarter. Tema ETFs LLC grew its holdings in shares of Carrier Global by 10.0% during the second quarter. Tema ETFs LLC now owns 17,567 shares of the company's stock worth $1,289,000 after purchasing an additional 1,595 shares during the last quarter. Clarus Wealth Advisors increased its position in shares of Carrier Global by 3.7% during the second quarter. Clarus Wealth Advisors now owns 27,744 shares of the company's stock worth $1,852,000 after purchasing an additional 978 shares in the last quarter. Finally, Generali Investments Management Co LLC lifted its holdings in shares of Carrier Global by 321.2% in the 2nd quarter. Generali Investments Management Co LLC now owns 10,449 shares of the company's stock valued at $766,000 after purchasing an additional 7,968 shares during the last quarter. 91.00% of the stock is owned by institutional investors and hedge funds.

Carrier Global Stock Down 0.9%

Shares of NYSE:CARR opened at $62.78 on Friday. The company has a market cap of $51.75 billion, a price-to-earnings ratio of 43.60, a PEG ratio of 2.34 and a beta of 1.31. The firm's 50-day simple moving average is $68.18 and its 200-day simple moving average is $64.01. 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.

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 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 firm's revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.92 earnings per share. Carrier Global has set its FY 2026 guidance at 2.900-2.900 EPS. As a group, equities research analysts predict that Carrier Global Corporation will post 2.89 earnings per share for the current year.

Carrier Global Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 10th. Stockholders 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 1.5%. The ex-dividend date of this dividend was Tuesday, July 21st. Carrier Global's dividend payout ratio is 66.67%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Barclays lifted their price target on Carrier Global from $67.00 to $79.00 and gave the stock an "overweight" rating in a research report on Friday, May 1st. Sanford C. Bernstein reissued a "market perform" rating and issued a $78.00 price objective on shares of Carrier Global in a report on Thursday, July 30th. Evercore raised their target price on shares of Carrier Global from $75.00 to $85.00 in a research report on Friday, May 1st. Citigroup upped their price target on shares of Carrier Global from $79.00 to $80.00 and gave the company a "buy" rating in a research report on Monday, July 13th. Finally, Royal Bank Of Canada increased their price target on shares of Carrier Global from $71.00 to $81.00 and gave the stock an "outperform" rating in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $73.67.

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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