Northwestern Mutual Wealth Management Co. Buys Shares of 42,830 Carrier Global Corporation $CARR

Key Points

• Northwestern Mutual Wealth Management acquired 42,830 shares of Carrier Global worth approximately $3.14 million during the second quarter. 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 $73.67, compared with the stock’s $59.92 opening price.
• Carrier Global exceeded quarterly expectations with $0.86 in earnings per share and $6.35 billion in revenue. The company also pays a quarterly dividend of $0.24 per share, equivalent to a 1.6% annual yield.

Northwestern Mutual Wealth Management Co. bought a new position in shares of Carrier Global Corporation (NYSE:CARR - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 42,830 shares of the company's stock, valued at approximately $3,142,000.

A number of other large investors also recently modified their holdings of the business. Brighton Jones LLC grew its holdings in shares of Carrier Global by 30.3% during the fourth quarter. Brighton Jones LLC now owns 7,958 shares of the company's stock valued at $543,000 after purchasing an additional 1,850 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Carrier Global by 51.5% in the 1st quarter. AQR Capital Management LLC now owns 68,225 shares of the company's stock worth $4,236,000 after purchasing an additional 23,200 shares during the last quarter. United Bank lifted its holdings in shares of Carrier Global by 41.2% in the 2nd quarter. United Bank now owns 16,991 shares of the company's stock worth $1,244,000 after purchasing an additional 4,956 shares during the last quarter. Schnieders Capital Management LLC. boosted its position in Carrier Global by 33.7% during the 2nd quarter. Schnieders Capital Management LLC. now owns 16,967 shares of the company's stock valued at $1,242,000 after purchasing an additional 4,277 shares during the period. Finally, Guggenheim Capital LLC boosted its position in Carrier Global by 6.0% during the 2nd quarter. Guggenheim Capital LLC now owns 9,903 shares of the company's stock valued at $725,000 after purchasing an additional 561 shares during the period. 91.00% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CARR has been the topic of several analyst reports. Robert W. Baird increased their target price on Carrier Global from $70.00 to $75.00 in a research report on Friday, May 1st. Wolfe Research reissued an "outperform" rating and set a $80.00 price target on shares of Carrier Global in a report on Thursday, July 9th. Barclays upped their price target 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. Mizuho increased their price objective on shares of Carrier Global from $67.00 to $75.00 in a report on Friday, May 1st. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Carrier Global in a report on Monday, July 20th. One 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 stock currently has a consensus rating of "Moderate Buy" and an average target price of $73.67.

Carrier Global Stock Down 0.7%

CARR opened at $59.92 on Tuesday. The stock's 50 day moving average price is $67.15 and its 200 day moving average price is $64.13. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.02 and a quick ratio of 0.72. The stock has a market cap of $49.39 billion, a P/E ratio of 41.61, a P/E/G ratio of 2.23 and a beta of 1.31. Carrier Global Corporation has a 12 month low of $50.24 and a 12 month high of $76.76.

Carrier Global (NYSE:CARR - Get Free Report) last announced 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 company had revenue of $6.35 billion during 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.92 EPS. Carrier Global has set its FY 2026 guidance at 2.900-2.900 EPS. As a group, research analysts predict that Carrier Global Corporation will post 2.89 earnings per share for the current year.

Carrier Global Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Tuesday, July 21st were paid a dividend of $0.24 per share. The ex-dividend date of this dividend 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%.

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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