Legal & General Group Plc Invests $322.37 Million in Carrier Global Corporation $CARR

Key Points

• Legal & General Group Plc acquired 4.39 million Carrier Global shares worth approximately $322.4 million, representing about 0.53% of the company. Institutional investors collectively own roughly 91% of CARR.
• Analysts maintain a generally positive view, with a “Moderate Buy” consensus and an average price target of $73.67, above the reported opening price of $58.51.
• Carrier Global exceeded quarterly expectations, reporting $0.86 in EPS and $6.35 billion in revenue. The company also declared a quarterly dividend of $0.24 per share, equal to a 1.6% annualized yield.

Legal & General Group Plc acquired a new position in Carrier Global Corporation (NYSE:CARR - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 4,394,901 shares of the company's stock, valued at approximately $322,366,000. Legal & General Group Plc owned about 0.53% of Carrier Global as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Torren Management LLC acquired a new position in Carrier Global during the 4th quarter worth about $25,000. Johnson Financial Group Inc. acquired a new stake in shares of Carrier Global in the second quarter valued at about $25,000. Meeder Asset Management Inc. bought a new position in shares of Carrier Global during the second quarter worth about $26,000. Financial Management Professionals Inc. lifted its stake in shares of Carrier Global by 142.4% in the second quarter. Financial Management Professionals Inc. now owns 383 shares of the company's stock worth $28,000 after acquiring an additional 225 shares during the period. Finally, Garton & Associates Financial Advisors LLC acquired a new position in shares of Carrier Global in the fourth quarter worth approximately $33,000. 91.00% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CARR has been the subject of a number of recent analyst reports. Royal Bank Of Canada increased their target price on shares of Carrier Global from $71.00 to $81.00 and gave the company an "outperform" rating in a research report on Friday, May 1st. Rothschild & Co Redburn upped their price objective on shares of Carrier Global from $61.00 to $73.00 and gave the company a "neutral" rating in a research note on Tuesday, May 5th. Barclays increased their price objective on shares of Carrier Global from $67.00 to $79.00 and gave the stock an "overweight" rating in a research report on Friday, May 1st. Wolfe Research reissued an "outperform" rating and set a $80.00 target price on shares of Carrier Global in a research note on Thursday, July 9th. Finally, Robert W. Baird boosted their target price on shares of Carrier Global from $70.00 to $75.00 in a report on Friday, May 1st. One equities research 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. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $73.67.

Carrier Global Trading Down 2.4%

CARR opened at $58.51 on Wednesday. Carrier Global Corporation has a 1-year low of $50.24 and a 1-year high of $76.76. The company has a current ratio of 1.02, a quick ratio of 0.72 and a debt-to-equity ratio of 0.77. The company has a market cap of $48.23 billion, a P/E ratio of 40.63, a price-to-earnings-growth ratio of 2.21 and a beta of 1.31. The company has a fifty day moving average price of $66.89 and a two-hundred day moving average price of $64.09.

Carrier Global (NYSE:CARR - Get Free Report) last released its quarterly earnings data 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 company had revenue of $6.35 billion for 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 business's revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.92 EPS. Carrier Global has set its FY 2026 guidance at 2.900-2.900 EPS. Analysts predict that Carrier Global Corporation will post 2.89 EPS for the current fiscal year.

Carrier Global Dividend Announcement

The company also recently declared 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 was Tuesday, July 21st. This represents a $0.96 annualized dividend and a yield of 1.6%. Carrier Global's dividend payout ratio is presently 66.67%.

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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