Man Group plc Invests $9.69 Million in Carrier Global Corporation $CARR

Key Points

• Man Group plc acquired 132,068 Carrier Global shares in the second quarter, valued at approximately $9.69 million. Institutional investors collectively own about 91% of CARR.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus rating and an average price target of $73.67, above the stock’s reported $58.73 price.
• Carrier Global exceeded quarterly expectations, reporting $0.86 in earnings per share and $6.35 billion in revenue, while paying a quarterly dividend of $0.24 per share.

Man Group plc bought a new stake in Carrier Global Corporation (NYSE:CARR - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 132,068 shares of the company's stock, valued at approximately $9,687,000.

Several other large investors also recently added to or reduced their stakes in CARR. First Bancorp Inc ME acquired a new position in shares of Carrier Global during the 2nd quarter worth $79,000. Roberts Glore & Co. Inc. IL acquired a new position in Carrier Global during the 2nd quarter worth $918,000. Jupiter Topco LLC acquired a new stake in Carrier Global in the 2nd quarter valued at approximately $8,738,000. Hsbc Holdings PLC grew its stake in shares of Carrier Global by 13.8% in the second quarter. Hsbc Holdings PLC now owns 1,589,619 shares of the company's stock worth $116,830,000 after acquiring an additional 192,493 shares during the last quarter. Finally, EFG International AG acquired a new position in shares of Carrier Global in the second quarter valued at $159,000. 91.00% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CARR has been the topic of a number of recent research reports. Rothschild & Co Redburn lifted their price objective on Carrier Global from $61.00 to $73.00 and gave the company a "neutral" rating in a report on Tuesday, May 5th. Argus raised their target price on Carrier Global from $72.00 to $75.00 and gave the stock a "buy" rating in a report on Tuesday, May 5th. Morgan Stanley increased their target price on Carrier Global from $55.00 to $60.00 and gave the stock an "equal weight" rating in a report on Thursday, May 28th. Sanford C. Bernstein reaffirmed a "market perform" rating and set a $78.00 price target on shares of Carrier Global in a research report on Thursday, July 30th. Finally, Evercore upped their price objective on Carrier Global from $75.00 to $85.00 in a report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $73.67.

Carrier Global Trading Down 0.2%

NYSE:CARR opened at $58.73 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.72 and a current ratio of 1.02. The firm has a market cap of $48.41 billion, a P/E ratio of 40.78, a P/E/G ratio of 2.17 and a beta of 1.31. The firm's fifty day moving average is $66.15 and its 200-day moving average is $63.98. Carrier Global Corporation has a 52 week low of $50.24 and a 52 week high of $76.76.

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

Carrier Global Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 10th. Stockholders 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 annualized dividend and a dividend yield of 1.6%. Carrier Global's dividend payout ratio is currently 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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