NewEdge Wealth LLC Invests $1.48 Million in Carrier Global Corporation $CARR

Key Points

• NewEdge Wealth acquired 20,231 shares of Carrier Global worth approximately $1.48 million in the second quarter. Institutional investors own about 91% of the company, with several major funds also initiating positions.
• Carrier reported quarterly earnings of $0.86 per share, beating estimates by $0.04, while revenue reached $6.35 billion and rose 3.9% year over year.
• The company pays a quarterly dividend of $0.24 per share, equivalent to a 1.6% yield, while analysts maintain a “Moderate Buy” consensus and an average price target of $73.67.

NewEdge Wealth LLC 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 20,231 shares of the company's stock, valued at approximately $1,484,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Bank of New York Mellon Corp bought a new stake in Carrier Global during the second quarter worth $590,759,000. Norges Bank bought a new position in shares of Carrier Global in the 4th quarter valued at about $380,299,000. Deutsche Bank AG acquired a new position in shares of Carrier Global during the 2nd quarter worth about $166,165,000. Ontario Teachers Pension Plan Board acquired a new position in shares of Carrier Global during the 4th quarter worth about $99,839,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Carrier Global in the 2nd quarter valued at about $136,714,000. 91.00% of the stock is owned by institutional investors.

Carrier Global Trading Up 0.4%

Shares of NYSE:CARR opened at $60.40 on Friday. Carrier Global Corporation has a 12-month low of $50.24 and a 12-month high of $76.76. The stock has a market cap of $49.79 billion, a PE ratio of 41.94, a P/E/G ratio of 2.22 and a beta of 1.31. The business has a 50 day moving average of $67.37 and a 200-day moving average of $64.11. The company has a quick ratio of 0.72, a current ratio of 1.02 and a debt-to-equity ratio of 0.77.

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

Carrier Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Tuesday, July 21st were given a dividend of $0.24 per share. 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 (DPR) is presently 66.67%.

Analyst Ratings Changes

CARR has been the subject of a number of research analyst reports. Barclays lifted their price target on Carrier Global from $67.00 to $79.00 and gave the stock an "overweight" rating in a report on Friday, May 1st. Mizuho raised their price objective on Carrier Global from $67.00 to $75.00 in a research report on Friday, May 1st. Zacks Research upgraded Carrier Global from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 30th. Citigroup boosted their target price on Carrier Global from $79.00 to $80.00 and gave the stock a "buy" rating in a report on Monday, July 13th. Finally, Morgan Stanley increased their price target on Carrier Global from $55.00 to $60.00 and gave the company an "equal weight" rating in a research note on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $73.67.

About Carrier Global

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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