State of Alaska Department of Revenue Purchases 34,859 Shares of Carrier Global Corporation $CARR

Key Points

• State of Alaska Department of Revenue increased its Carrier Global stake by 45.6% in the third quarter, adding 34,859 shares to own 111,358 shares valued at approximately $6.1 million. Institutional investors collectively held 91% of the company’s stock.
• Analyst sentiment remained positive overall, with 11 Buy ratings and 10 Hold ratings, producing a “Moderate Buy” consensus and an average price target of $70.43.
• Carrier Global reported quarterly EPS of $0.86, beating estimates of $0.82, while revenue rose 3.9% year over year to $6.35 billion. The company also announced a quarterly dividend of $0.24 per share, equivalent to a 1.7% yield.

State of Alaska Department of Revenue boosted its position in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 45.6% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 111,358 shares of the company's stock after acquiring an additional 34,859 shares during the quarter. State of Alaska Department of Revenue's holdings in Carrier Global were worth $6,109,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Charles Schwab Trust Co lifted its holdings in shares of Carrier Global by 8.1% during the third quarter. Charles Schwab Trust Co now owns 4,325 shares of the company's stock worth $237,000 after purchasing an additional 325 shares during the period. Truefg LLC acquired a new position in Carrier Global in the 3rd quarter worth approximately $3,475,000. Lipe & Dalton increased its holdings in Carrier Global by 185.0% in the 3rd quarter. Lipe & Dalton now owns 39,797 shares of the company's stock worth $2,183,000 after buying an additional 25,835 shares during the period. Mather Group LLC. raised its position in Carrier Global by 27.5% during the 3rd quarter. Mather Group LLC. now owns 13,360 shares of the company's stock worth $733,000 after buying an additional 2,883 shares during the last quarter. Finally, Adirondack Trust Co. raised its position in Carrier Global by 59.9% during the 3rd quarter. Adirondack Trust Co. now owns 4,658 shares of the company's stock worth $256,000 after buying an additional 1,745 shares during the last quarter. Hedge funds and other institutional investors own 91.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CARR. Zacks Research cut shares of Carrier Global from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 1st. Citigroup increased their price objective on shares of Carrier Global from $79.00 to $80.00 and gave the stock a "buy" rating in a research note on Monday, July 13th. Sanford C. Bernstein reduced their target price on shares of Carrier Global from $78.00 to $64.00 and set a "market perform" rating for the company in a report on Wednesday, October 7th. Weiss Ratings restated a "hold (c)" rating on shares of Carrier Global in a research report on Monday, July 20th. Finally, Wolfe Research reaffirmed an "outperform" rating and issued a $80.00 price target on shares of Carrier Global in a report on Thursday, July 9th. Eleven equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $70.43.

Carrier Global Stock Performance

Carrier Global stock traded down $0.06 during midday trading on Friday, hitting $54.90. 6,567,312 shares of the company were exchanged, compared to its average volume of 6,263,893. The business has a fifty day simple moving average of $57.60 and a two-hundred day simple moving average of $62.79. 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 firm has a market capitalization of $45.26 billion, a PE ratio of 38.12, a price-to-earnings-growth ratio of 1.88 and a beta of 1.29. Carrier Global Corporation has a fifty-two week low of $50.24 and a fifty-two week high of $76.76.

Carrier Global (NYSE:CARR - Get Free Report) last announced its quarterly 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. Carrier Global had a return on equity of 14.68% and a net margin of 5.52%. The company had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.02 billion. During the same period in the previous year, the company posted $0.92 earnings per share. Carrier Global's revenue for the quarter 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, sell-side analysts forecast that Carrier Global Corporation will post 2.87 earnings per share for the current year.

Carrier Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 18th. Stockholders of record on Thursday, October 29th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Thursday, October 29th. Carrier Global's payout ratio is 66.67%.

Carrier Global Company Profile

Carrier Global Corporation NYSE: CARR is a global provider of intelligent climate and energy solutions. The company develops and manufactures heating, ventilation and air-conditioning (HVAC) systems, heat pumps, building controls, and related equipment for residential, commercial and industrial customers. Its offerings are designed to support temperature control, indoor air quality, energy efficiency and building performance.

Carrier also provides refrigeration products and services for food retail, transportation and other applications.

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.