Korea Investment CORP Buys New Stake in Carrier Global Corporation $CARR

Key Points

• Korea Investment CORP acquired 676,880 shares of Carrier Global during the second quarter, worth approximately $49.6 million and representing 0.08% of the company. Institutional investors collectively own about 91% of CARR.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $73.67; recent target increases ranged from $60 to $79.
• Carrier exceeded quarterly expectations with earnings of $0.86 per share versus $0.82 expected and revenue of $6.35 billion versus $6.02 billion forecast. The company also pays a quarterly dividend of $0.24, equal to a 1.6% annualized yield.

Korea Investment CORP purchased a new position in shares of Carrier Global Corporation (NYSE:CARR - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 676,880 shares of the company's stock, valued at approximately $49,649,000. Korea Investment CORP owned approximately 0.08% of Carrier Global at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CARR. Johnson Financial Group Inc. purchased a new position in shares of Carrier Global during the second quarter worth about $25,000. Meeder Asset Management Inc. acquired a new stake in shares of Carrier Global in the 2nd quarter valued at about $26,000. Financial Management Professionals Inc. boosted its position in shares of Carrier Global by 142.4% in the 2nd quarter. Financial Management Professionals Inc. now owns 383 shares of the company's stock valued at $28,000 after purchasing an additional 225 shares during the period. Torren Management LLC purchased a new position in Carrier Global during the 4th quarter worth approximately $25,000. Finally, Burnham & Co LLC acquired a new position in shares of Carrier Global in the 2nd quarter valued at $37,000. 91.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CARR has been the topic of several research reports. Sanford C. Bernstein reissued a "market perform" rating and set a $78.00 price objective on shares of Carrier Global in a research report on Thursday, July 30th. Morgan Stanley increased their target price on shares of Carrier Global from $55.00 to $60.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 28th. Wells Fargo & Company raised their price target on Carrier Global from $58.00 to $71.00 in a report on Friday, May 1st. Barclays boosted their price target on Carrier Global from $67.00 to $79.00 and gave the company an "overweight" rating in a research report on Friday, May 1st. Finally, Robert W. Baird upped their price objective on Carrier Global from $70.00 to $75.00 in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, Carrier Global presently has an average rating of "Moderate Buy" and a consensus price target of $73.67.

Carrier Global Stock Up 0.4%

CARR stock opened at $60.40 on Friday. The stock has a market capitalization of $49.79 billion, a PE ratio of 41.94, a price-to-earnings-growth ratio of 2.23 and a beta of 1.31. The company has a fifty day moving average of $67.37 and a 200-day moving average of $64.11. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.72 and a current ratio of 1.02. Carrier Global Corporation has a one year low of $50.24 and a one year high of $76.76.

Carrier Global (NYSE:CARR - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.82 by $0.04. The business had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.02 billion. Carrier Global had a net margin of 5.52% and a return on equity of 14.68%. The business's revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.92 earnings per share. Carrier Global has set its FY 2026 guidance at 2.900-2.900 EPS. As a group, analysts expect that Carrier Global Corporation will post 2.89 EPS for the current year.

Carrier Global Announces Dividend

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. This represents a $0.96 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Tuesday, July 21st. 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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