SIR Capital Management L.P. Takes Position in Carrier Global Corporation $CARR

Key Points

• SIR Capital Management acquired 60,300 shares of Carrier Global valued at approximately $4.4 million, while institutional investors collectively own about 91% of the company.
• Carrier reported quarterly earnings of $0.86 per share and revenue of $6.35 billion, exceeding analyst expectations; revenue increased 3.9% year over year.
• Shares opened at $59.92, below the analyst consensus price target of $73.67. Carrier also pays a quarterly dividend of $0.24, equivalent to a 1.6% yield.

SIR Capital Management L.P. purchased a new position in Carrier Global Corporation (NYSE:CARR - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 60,300 shares of the company's stock, valued at approximately $4,423,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Dynamic Advisor Solutions LLC increased its position in Carrier Global by 2.8% in the second quarter. Dynamic Advisor Solutions LLC now owns 5,801 shares of the company's stock worth $426,000 after buying an additional 158 shares during the period. Aigen Investment Management LP boosted its holdings in shares of Carrier Global by 0.3% during the fourth quarter. Aigen Investment Management LP now owns 49,268 shares of the company's stock valued at $2,603,000 after acquiring an additional 166 shares during the period. Advisory Alpha LLC boosted its holdings in shares of Carrier Global by 2.9% during the fourth quarter. Advisory Alpha LLC now owns 6,034 shares of the company's stock valued at $319,000 after acquiring an additional 171 shares during the period. Texas Bank & Trust Co grew its position in shares of Carrier Global by 1.3% during the first quarter. Texas Bank & Trust Co now owns 13,176 shares of the company's stock worth $742,000 after acquiring an additional 175 shares during the last quarter. Finally, Advisor OS LLC grew its position in shares of Carrier Global by 0.8% during the fourth quarter. Advisor OS LLC now owns 21,477 shares of the company's stock worth $1,135,000 after acquiring an additional 178 shares during the last quarter. Institutional investors and hedge funds own 91.00% of the company's stock.

Carrier Global Trading Down 0.7%

Shares of NYSE:CARR opened at $59.92 on Tuesday. The company has a 50 day moving average of $67.15 and a 200-day moving average of $64.13. The company has a current ratio of 1.02, a quick ratio of 0.72 and a debt-to-equity ratio of 0.77. The firm 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 twelve month low of $50.24 and a twelve month high of $76.76.

Carrier Global (NYSE:CARR - Get Free Report) last announced its earnings results on Tuesday, July 28th. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.82 by $0.04. The firm had revenue of $6.35 billion for the quarter, compared to analysts' expectations 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 in the previous 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, analysts anticipate that Carrier Global Corporation will post 2.89 earnings per share for the current fiscal year.

Carrier Global Dividend Announcement

The company also recently disclosed 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 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 66.67%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Sanford C. Bernstein reiterated a "market perform" rating and issued a $78.00 price objective on shares of Carrier Global in a research report on Thursday, July 30th. Morgan Stanley upped their target price on shares of Carrier Global from $55.00 to $60.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 28th. Mizuho raised their price target on shares of Carrier Global from $67.00 to $75.00 in a research note on Friday, May 1st. Argus boosted their price objective on Carrier Global from $72.00 to $75.00 and gave the stock a "buy" rating in a research report on Tuesday, May 5th. Finally, The Goldman Sachs Group raised their target price on Carrier Global from $74.00 to $80.00 in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, Carrier Global has an average rating of "Moderate Buy" and an average price target 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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