Sone Capital Management LLC Purchases New Stake in Carrier Global Corporation $CARR

Key Points

• Sone Capital Management acquired 188,214 shares of Carrier Global worth approximately $13.8 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, versus the stock’s reported opening price of $59.92.
• Carrier Global exceeded quarterly expectations, reporting $0.86 in adjusted EPS and $6.35 billion in revenue, while declaring a quarterly dividend of $0.24 per share, equivalent to a 1.6% yield.

Sone Capital Management LLC acquired a new stake in shares of Carrier Global Corporation (NYSE:CARR - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 188,214 shares of the company's stock, valued at approximately $13,805,000.

Several other hedge funds and other institutional investors also recently modified their holdings of CARR. Torren Management LLC acquired a new stake in Carrier Global during the fourth quarter valued at approximately $25,000. Johnson Financial Group Inc. acquired a new position in shares of Carrier Global in the 2nd quarter worth approximately $25,000. Meeder Asset Management Inc. acquired a new position in shares of Carrier Global in the 2nd quarter worth approximately $26,000. Financial Management Professionals Inc. increased 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 valued at $28,000 after acquiring an additional 225 shares during the last quarter. Finally, Garton & Associates Financial Advisors LLC acquired a new stake in shares of Carrier Global during the 4th quarter valued at approximately $33,000. Institutional investors own 91.00% of the company's stock.

Wall Street Analysts Forecast Growth

CARR has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their target price on shares of Carrier Global from $63.00 to $67.00 and gave the company a "neutral" rating in a research note on Thursday, May 14th. Wells Fargo & Company lifted their price target on shares of Carrier Global from $58.00 to $71.00 in a report on Friday, May 1st. Argus increased their price objective on shares of Carrier Global from $72.00 to $75.00 and gave the stock a "buy" rating in a research note on Tuesday, May 5th. Evercore raised their target price on shares of Carrier Global from $75.00 to $85.00 in a report on Friday, May 1st. Finally, Citigroup lifted their target price on Carrier Global from $79.00 to $80.00 and gave the company a "buy" rating in a research note on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, Carrier Global has an average rating of "Moderate Buy" and a consensus target price of $73.67.

Carrier Global Stock Performance

CARR stock opened at $59.92 on Tuesday. Carrier Global Corporation has a 1 year low of $50.24 and a 1 year high of $76.76. The stock has a market capitalization of $49.39 billion, a price-to-earnings ratio of 41.61, a PEG ratio of 2.23 and a beta of 1.31. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.72 and a current ratio of 1.02. The stock's fifty day moving average is $67.15 and its two-hundred day moving average is $64.13.

Carrier Global (NYSE:CARR - Get Free Report) last released its quarterly 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. Carrier Global had a net margin of 5.52% and a return on equity of 14.68%. The business had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.02 billion. During the same quarter in the prior year, the firm earned $0.92 earnings per share. The company's quarterly revenue was up 3.9% on a year-over-year basis. Carrier Global has set its FY 2026 guidance at 2.900-2.900 EPS. On average, research analysts predict that Carrier Global Corporation will post 2.89 EPS for the current year.

Carrier Global Announces Dividend

The firm 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 payout ratio 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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