Somerville Kurt F Makes New $2.21 Million Investment in Carrier Global Corporation $CARR

Key Points

• Somerville Kurt F purchased 30,105 Carrier Global shares worth approximately $2.21 million during the second quarter. Institutional investors and hedge funds collectively own about 91% of CARR’s outstanding stock.
• Analysts maintain a generally positive outlook, with Carrier receiving a “Moderate Buy” consensus rating and an average price target of $73.67.
• Carrier beat quarterly expectations with $0.86 in EPS and $6.35 billion in revenue, while declaring a quarterly dividend of $0.24 per share, equivalent to a 1.6% annual yield.

Somerville Kurt F purchased a new position in shares of Carrier Global Corporation (NYSE:CARR - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 30,105 shares of the company's stock, valued at approximately $2,208,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CARR. Johnson Financial Group Inc. acquired a new position in Carrier Global during the second quarter worth about $25,000. Meeder Asset Management Inc. purchased a new stake in shares of Carrier Global during the 2nd quarter worth approximately $26,000. Financial Management Professionals Inc. grew its holdings in shares of Carrier Global by 142.4% in the 2nd quarter. Financial Management Professionals Inc. now owns 383 shares of the company's stock worth $28,000 after acquiring an additional 225 shares during the period. Torren Management LLC acquired a new stake in shares of Carrier Global in the 4th quarter worth approximately $25,000. Finally, Garton & Associates Financial Advisors LLC acquired a new stake in shares of Carrier Global in the 4th quarter worth approximately $33,000. Institutional investors and hedge funds own 91.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CARR. Morgan Stanley lifted their price objective on Carrier Global from $55.00 to $60.00 and gave the stock an "equal weight" rating in a report on Thursday, May 28th. Barclays upped their target price on Carrier Global from $67.00 to $79.00 and gave the company an "overweight" rating in a report on Friday, May 1st. JPMorgan Chase & Co. raised their price target on Carrier Global from $63.00 to $67.00 and gave the company a "neutral" rating in a research report on Thursday, May 14th. Sanford C. Bernstein reaffirmed a "market perform" rating and set a $78.00 price target on shares of Carrier Global in a research note on Thursday, July 30th. Finally, Robert W. Baird lifted their price target on Carrier Global from $70.00 to $75.00 in a research note on Friday, May 1st. One investment 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. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $73.67.

Carrier Global Trading Down 0.5%

Shares of CARR opened at $61.13 on Thursday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.02 and a quick ratio of 0.72. Carrier Global Corporation has a 1-year low of $50.24 and a 1-year high of $76.76. The stock has a market cap of $50.39 billion, a price-to-earnings ratio of 42.45, a price-to-earnings-growth ratio of 2.27 and a beta of 1.31. The firm has a 50 day simple moving average of $67.75 and a 200-day simple moving average of $64.13.

Carrier Global (NYSE:CARR - Get Free Report) last posted its earnings results on Tuesday, July 28th. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.82 by $0.04. The firm 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%.Carrier Global's revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.92 EPS. Carrier Global has set its FY 2026 guidance at 2.900-2.900 EPS. Equities analysts forecast that Carrier Global Corporation will post 2.89 EPS for the current fiscal 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 issued 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 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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