Fifth Third Bancorp Boosts Stake in Carrier Global Corporation $CARR

Key Points

• Fifth Third Bancorp boosted its stake in Carrier Global by 319.7% in the first quarter, buying an additional 332,590 shares and bringing its total holding to 436,636 shares worth about $24.6 million.
• Carrier Global reported better-than-expected quarterly results, posting EPS of $0.57 versus a $0.51 consensus estimate and revenue of $5.34 billion versus $5.01 billion expected.
• The company also announced a quarterly dividend of $0.24 per share, while analysts currently maintain a consensus rating of Moderate Buy with an average price target of $73.51.

Fifth Third Bancorp grew its position in Carrier Global Corporation (NYSE:CARR - Free Report) by 319.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 436,636 shares of the company's stock after purchasing an additional 332,590 shares during the period. Fifth Third Bancorp owned approximately 0.05% of Carrier Global worth $24,587,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. KERR FINANCIAL PLANNING Corp purchased a new position in Carrier Global in the 3rd quarter worth approximately $25,000. YANKCOM Partnership grew its position in Carrier Global by 78.5% in the fourth quarter. YANKCOM Partnership now owns 473 shares of the company's stock valued at $25,000 after acquiring an additional 208 shares in the last quarter. Torren Management LLC purchased a new stake in shares of Carrier Global during the fourth quarter valued at approximately $25,000. Global Wealth Strategies & Associates raised its stake in shares of Carrier Global by 150.0% during the fourth quarter. Global Wealth Strategies & Associates now owns 500 shares of the company's stock valued at $26,000 after purchasing an additional 300 shares during the period. Finally, True Wealth Design LLC lifted its position in shares of Carrier Global by 723.7% during the fourth quarter. True Wealth Design LLC now owns 486 shares of the company's stock worth $26,000 after purchasing an additional 427 shares in the last quarter. Hedge funds and other institutional investors own 91.00% of the company's stock.

Carrier Global Stock Down 1.0%

NYSE:CARR opened at $68.64 on Tuesday. The company has a current ratio of 1.05, a quick ratio of 0.75 and a debt-to-equity ratio of 0.76. The stock has a 50 day moving average of $68.07 and a 200-day moving average of $62.26. The firm has a market capitalization of $57.01 billion, a PE ratio of 45.16, a price-to-earnings-growth ratio of 2.78 and a beta of 1.31. Carrier Global Corporation has a 52 week low of $50.24 and a 52 week high of $81.09.

Carrier Global (NYSE:CARR - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.06. Carrier Global had a net margin of 5.99% and a return on equity of 14.81%. The company had revenue of $5.34 billion during the quarter, compared to the consensus estimate of $5.01 billion. During the same quarter in the previous year, the company posted $0.65 earnings per share. The company's revenue for the quarter was up 2.4% compared to the same quarter last year. Carrier Global has set its FY 2026 guidance at 2.800-2.800 EPS. Analysts predict that Carrier Global Corporation will post 2.79 EPS for the current year.

Carrier Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Tuesday, July 21st will be issued a $0.24 dividend. The ex-dividend date is Tuesday, July 21st. This represents a $0.96 annualized dividend and a dividend yield of 1.4%. Carrier Global's dividend payout ratio is 63.16%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Barclays upped their price objective on shares of Carrier Global from $67.00 to $79.00 and gave the company an "overweight" rating in a research report on Friday, May 1st. Robert W. Baird raised their price objective on Carrier Global from $70.00 to $75.00 in a research note on Friday, May 1st. Citigroup lifted their price objective on Carrier Global from $79.00 to $80.00 and gave the stock a "buy" rating in a report on Monday. Rothschild & Co Redburn upped their target price on Carrier Global from $61.00 to $73.00 and gave the company a "neutral" rating in a research report on Tuesday, May 5th. Finally, Weiss Ratings upgraded Carrier Global from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, April 22nd. Twelve investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $73.51.

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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