Freestone Grove Partners LP Invests $73.73 Million in Carrier Global Corporation $CARR

Key Points

• Freestone Grove Partners acquired 1.005 million Carrier Global shares worth approximately $73.7 million, representing about 0.12% of the company. Institutional investors collectively own 91% of Carrier Global.
• Analyst sentiment is broadly positive, with an average rating of “Moderate Buy” and an average price target of $73.67; recent target increases include Evercore’s $85 and Goldman Sachs’s $80.
• Carrier exceeded quarterly expectations, reporting $0.86 in adjusted EPS and $6.35 billion in revenue, while maintaining a quarterly dividend of $0.24 per share, or a 1.6% annualized yield.

Freestone Grove Partners LP acquired a new stake in Carrier Global Corporation (NYSE:CARR - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 1,005,203 shares of the company's stock, valued at approximately $73,732,000. Freestone Grove Partners LP owned about 0.12% of Carrier Global at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Torren Management LLC acquired a new stake in Carrier Global in the fourth quarter valued at $25,000. Johnson Financial Group Inc. bought a new position in shares of Carrier Global in the 2nd quarter valued at about $25,000. Meeder Asset Management Inc. acquired a new position in shares of Carrier Global during the 2nd quarter worth about $26,000. Financial Management Professionals Inc. increased its stake in shares of Carrier Global by 142.4% during the 2nd quarter. Financial Management Professionals Inc. now owns 383 shares of the company's stock worth $28,000 after purchasing an additional 225 shares during the last quarter. Finally, Garton & Associates Financial Advisors LLC bought a new stake in shares of Carrier Global in the 4th quarter valued at about $33,000. 91.00% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CARR has been the subject of several recent analyst reports. Zacks Research upgraded shares of Carrier Global from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 30th. Sanford C. Bernstein reissued a "market perform" rating and set a $78.00 price target on shares of Carrier Global in a research report on Thursday, July 30th. Evercore upped their price objective on Carrier Global from $75.00 to $85.00 in a research note on Friday, May 1st. The Goldman Sachs Group raised their price objective on Carrier Global from $74.00 to $80.00 in a research report on Friday, May 1st. Finally, Mizuho boosted their target price on Carrier Global from $67.00 to $75.00 in a report on Friday, May 1st. One investment 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, Carrier Global presently has an average rating of "Moderate Buy" and an average price target of $73.67.

Carrier Global Stock Up 0.4%

CARR stock opened at $58.77 on Thursday. Carrier Global Corporation has a fifty-two week low of $50.24 and a fifty-two week high of $76.76. 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 stock has a market capitalization of $48.45 billion, a price-to-earnings ratio of 40.81, a PEG ratio of 2.16 and a beta of 1.31. The business's fifty day moving average price is $66.68 and its two-hundred day moving average price is $64.06.

Carrier Global (NYSE:CARR - Get Free Report) last announced its earnings results on Tuesday, July 28th. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $6.02 billion. During the same quarter in the previous year, the business posted $0.92 earnings per share. Carrier Global's quarterly 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. On average, equities analysts anticipate that Carrier Global Corporation will post 2.89 earnings per share for the current year.

Carrier Global Dividend Announcement

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