SEB Asset Management AB Buys New Shares in Carrier Global Corporation $CARR

Key Points

• SEB Asset Management AB opened a new position in Carrier Global during the first quarter, buying 155,704 shares valued at about $8.77 million.
• Carrier Global said its latest quarterly results beat expectations, with EPS of $0.57 versus estimates of $0.51 and revenue of $5.34 billion versus expectations of $5.01 billion.
• The company also announced a quarterly dividend of $0.24 per share, while analysts currently rate the stock a Moderate Buy with a consensus price target of $73.51.

SEB Asset Management AB bought a new position in shares of Carrier Global Corporation (NYSE:CARR - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 155,704 shares of the company's stock, valued at approximately $8,768,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CARR. Torren Management LLC bought a new stake in shares of Carrier Global during the fourth quarter valued at approximately $25,000. YANKCOM Partnership boosted its stake in Carrier Global by 78.5% during the fourth quarter. YANKCOM Partnership now owns 473 shares of the company's stock worth $25,000 after buying an additional 208 shares in the last quarter. True Wealth Design LLC boosted its stake in Carrier Global by 723.7% during the fourth quarter. True Wealth Design LLC now owns 486 shares of the company's stock worth $26,000 after buying an additional 427 shares in the last quarter. Garton & Associates Financial Advisors LLC bought a new stake in Carrier Global in the 4th quarter valued at $33,000. Finally, Princeton Global Asset Management LLC bought a new stake in Carrier Global in the 4th quarter valued at $39,000. 91.00% of the stock is currently owned by institutional investors.

Carrier Global Stock Down 0.4%

Shares of NYSE:CARR opened at $66.68 on Wednesday. Carrier Global Corporation has a 52 week low of $50.24 and a 52 week high of $81.09. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.75 and a current ratio of 1.05. The company's fifty day moving average is $68.32 and its 200-day moving average is $62.90. The company has a market capitalization of $55.38 billion, a PE ratio of 43.87, a P/E/G ratio of 2.68 and a beta of 1.31.

Carrier Global (NYSE:CARR - Get Free Report) last announced its earnings results on Thursday, April 30th. The company reported $0.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.51 by $0.06. Carrier Global had a net margin of 5.99% and a return on equity of 14.81%. The business had revenue of $5.34 billion during the quarter, compared to analysts' expectations of $5.01 billion. During the same quarter last year, the company posted $0.65 EPS. The firm's revenue for the quarter was up 2.4% on a year-over-year basis. Carrier Global has set its FY 2026 guidance at 2.800-2.800 EPS. Equities research analysts predict that Carrier Global Corporation will post 2.79 earnings per share for the current fiscal year.

Carrier Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, July 21st will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, July 21st. Carrier Global's dividend payout ratio is currently 63.16%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Wells Fargo & Company raised their price objective on shares of Carrier Global from $58.00 to $71.00 in a report on Friday, May 1st. Wolfe Research reissued an "outperform" rating and issued a $80.00 target price on shares of Carrier Global in a research note on Thursday, July 9th. BNP Paribas Exane began coverage on shares of Carrier Global in a research report on Tuesday, April 14th. They issued a "neutral" rating and a $62.00 price target for the company. Zacks Research upgraded shares of Carrier Global from a "strong sell" rating to a "hold" rating in a research note on Tuesday, April 7th. Finally, Sanford C. Bernstein started coverage on Carrier Global in a report on Tuesday, June 9th. They set a "market perform" rating and a $75.00 price objective on the stock. Twelve research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $73.51.

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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