OMERS ADMINISTRATION Corp Buys Shares of 330,512 Carrier Global Corporation $CARR

Key Points

• OMERS Administration Corp. acquired 330,512 shares of Carrier Global during the second quarter, valued at approximately $24.2 million. Institutional investors and hedge funds own about 91% of the company.
• Analysts maintain a generally positive outlook, with Carrier Global receiving a consensus “Moderate Buy” rating and an average price target of $73.67; several brokerages recently raised their targets.
• Carrier reported quarterly earnings of $0.86 per share, exceeding estimates of $0.82, while revenue reached $6.35 billion. The company also declared a quarterly dividend of $0.24 per share, equivalent to a 1.6% annual yield.

OMERS ADMINISTRATION Corp purchased a new position in Carrier Global Corporation (NYSE:CARR - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 330,512 shares of the company's stock, valued at approximately $24,243,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Torren Management LLC acquired a new stake in shares of Carrier Global in the fourth quarter valued at about $25,000. Johnson Financial Group Inc. purchased a new stake in Carrier Global during the 2nd quarter valued at about $25,000. Meeder Asset Management Inc. acquired a new stake in Carrier Global in the 2nd quarter valued at about $26,000. Financial Management Professionals Inc. raised its holdings in 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 acquiring an additional 225 shares during the last quarter. Finally, Garton & Associates Financial Advisors LLC purchased a new position in Carrier Global in the 4th quarter worth approximately $33,000. 91.00% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently weighed in on CARR. The Goldman Sachs Group boosted their target price on Carrier Global from $74.00 to $80.00 in a report on Friday, May 1st. Weiss Ratings reiterated a "hold (c)" rating on shares of Carrier Global in a research report on Monday, July 20th. Wells Fargo & Company boosted their price objective on Carrier Global from $58.00 to $71.00 in a research note on Friday, May 1st. Mizuho upped their target price on Carrier Global from $67.00 to $75.00 in a report on Friday, May 1st. Finally, Barclays raised their target price on Carrier Global from $67.00 to $79.00 and gave the stock an "overweight" rating in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat, Carrier Global currently has a consensus rating of "Moderate Buy" and an average target price of $73.67.

Carrier Global Price Performance

CARR stock opened at $60.40 on Monday. Carrier Global Corporation has a 52-week low of $50.24 and a 52-week high of $76.76. The company has a quick ratio of 0.72, a current ratio of 1.02 and a debt-to-equity ratio of 0.77. The stock has a market cap of $49.79 billion, a price-to-earnings ratio of 41.94, a price-to-earnings-growth ratio of 2.23 and a beta of 1.31. The business has a fifty day moving average of $67.37 and a two-hundred day moving average of $64.14.

Carrier Global (NYSE:CARR - Get Free Report) last released its quarterly 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. Carrier Global had a return on equity of 14.68% and a net margin of 5.52%.The business had revenue of $6.35 billion during the quarter, compared to analysts' expectations of $6.02 billion. During the same period in the prior year, the business posted $0.92 EPS. The company'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. As a group, research analysts anticipate that Carrier Global Corporation will post 2.89 earnings per share for the current year.

Carrier Global Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Tuesday, July 21st were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Tuesday, July 21st. Carrier Global's payout ratio is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source