Gabelli Funds LLC Boosts Stake in Carrier Global Corporation $CARR

Key Points

• Gabelli Funds increased its Carrier Global stake by 34.8% in the first quarter, holding 86,135 shares valued at approximately $4.85 million. Institutional investors collectively own about 91% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $73.51; recent targets range as high as $80.
• Carrier exceeded quarterly expectations with $0.86 in EPS and $6.35 billion in revenue, while revenue grew 3.9% year over year. The company also declared a $0.24 quarterly dividend, equivalent to a 1.5% annualized yield.

Gabelli Funds LLC raised its stake in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 34.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 86,135 shares of the company's stock after buying an additional 22,235 shares during the quarter. Gabelli Funds LLC's holdings in Carrier Global were worth $4,850,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Compound Planning Inc. increased its position in Carrier Global by 35.4% during the 1st quarter. Compound Planning Inc. now owns 7,383 shares of the company's stock worth $416,000 after purchasing an additional 1,929 shares in the last quarter. Keebeck Wealth Management purchased a new position in Carrier Global in the 1st quarter valued at about $203,000. Arrowstreet Capital Limited Partnership lifted its holdings in Carrier Global by 22.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,259,424 shares of the company's stock valued at $70,918,000 after purchasing an additional 231,690 shares in the last quarter. Sei Investments Co. lifted its holdings in Carrier Global by 6.8% in the 1st quarter. Sei Investments Co. now owns 2,101,860 shares of the company's stock valued at $118,356,000 after purchasing an additional 134,085 shares in the last quarter. Finally, MWA Asset Management acquired a new stake in shares of Carrier Global during the 1st quarter worth about $143,000. Hedge funds and other institutional investors own 91.00% of the company's stock.

Wall Street Analysts Forecast Growth

CARR has been the subject of a number of recent research reports. Argus lifted their price target 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. Robert W. Baird upped their price objective on shares of Carrier Global from $70.00 to $75.00 in a research note on Friday, May 1st. JPMorgan Chase & Co. raised their target price on shares of Carrier Global from $63.00 to $67.00 and gave the stock a "neutral" rating in a research report on Thursday, May 14th. Zacks Research raised shares of Carrier Global from a "strong sell" rating to a "hold" rating in a research note on Tuesday, April 7th. Finally, The Goldman Sachs Group boosted their price target on Carrier Global from $74.00 to $80.00 in a report on Friday, May 1st. Twelve analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $73.51.

Carrier Global Stock Performance

NYSE:CARR opened at $63.08 on Wednesday. The company has a quick ratio of 0.75, a current ratio of 1.05 and a debt-to-equity ratio of 0.76. The company has a market cap of $52.39 billion, a P/E ratio of 41.50, a P/E/G ratio of 2.78 and a beta of 1.31. 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 is $68.63 and its two-hundred day moving average is $63.41.

Carrier Global (NYSE:CARR - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.04. The company had revenue of $6.35 billion during the quarter, compared to analysts' expectations of $6.02 billion. Carrier Global had a net margin of 5.99% and a return on equity of 14.81%. The business's quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.92 EPS. Carrier Global has set its FY 2026 guidance at 2.900-2.900 EPS. Analysts expect that Carrier Global Corporation will post 2.79 EPS for the current year.

Carrier Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, July 21st will be given 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 of this dividend is Tuesday, July 21st. Carrier Global's payout ratio is 63.16%.

More Carrier Global News

Here are the key news stories impacting Carrier Global this week:

• Positive Sentiment: Quarterly results exceeded expectations: Carrier reported adjusted EPS of $0.86 versus the $0.82-$0.83 analyst consensus, while revenue of $6.35 billion surpassed estimates of roughly $6.02 billion. Revenue increased 3.9% year over year, and HVAC orders rose, supporting investor confidence in demand. Carrier Q2 Earnings & Sales Top Estimates, HVAC Orders Up Y/Y
• Positive Sentiment: Full-year outlook was raised: Carrier now expects approximately $23 billion in 2026 sales and adjusted EPS of about $2.90, above consensus expectations of approximately $22.2 billion and $2.80, respectively. The company also increased its outlook for adjusted operating profit. Carrier Reports Second Quarter 2026 Results
• Positive Sentiment: Data-center demand is becoming a larger growth driver: Carrier lifted its 2026 data-center revenue outlook to approximately $2 billion, indicating strong commercial HVAC demand tied to data-center construction and expansion. Carrier forecasts 2026 sales and EPS
• Neutral Sentiment: NORESCO sale streamlines the portfolio: Carrier agreed to sell its NORESCO energy-services business to OPTERRA Energy Services, an LS Power subsidiary. The transaction may sharpen Carrier’s focus on climate and HVAC solutions, although financial terms and the effect on earnings were not highlighted. Carrier Announces Agreement to Sell NORESCO
• Negative Sentiment: Profitability remains a concern: Quarterly EPS declined from $0.92 a year earlier to $0.86, and reports noted margin pressure. With Carrier trading at a relatively demanding earnings multiple, investors appear to have treated the guidance increase as insufficient to offset concerns about near-term margins and earnings quality.

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.

Want to see what other hedge funds are holding CARR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Carrier Global Corporation (NYSE:CARR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.