Swedbank AB Lowers Stock Position in Carrier Global Corporation $CARR

Key Points

• Swedbank AB reduced its Carrier Global position by 7.3% in the first quarter, selling 31,986 shares and leaving it with 404,212 shares worth about $22.76 million.
• Carrier Global reported better-than-expected quarterly results, posting EPS of $0.57 versus the $0.51 estimate and revenue of $5.34 billion versus $5.01 billion expected.
• Wall Street remains cautiously positive on the stock, with 12 Buy ratings and 10 Hold ratings, giving Carrier Global a consensus “Moderate Buy” and an average price target of $73.46.

Swedbank AB cut its stake in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 7.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 404,212 shares of the company's stock after selling 31,986 shares during the quarter. Swedbank AB's holdings in Carrier Global were worth $22,761,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of CARR. Massachusetts Financial Services Co. MA boosted its stake in Carrier Global by 6.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,127,670 shares of the company's stock worth $59,586,000 after buying an additional 72,906 shares in the last quarter. Y.D. More Investments Ltd purchased a new position in shares of Carrier Global during the fourth quarter worth approximately $1,556,000. Cardinal Capital Management Inc. lifted its holdings in shares of Carrier Global by 11.3% in the 4th quarter. Cardinal Capital Management Inc. now owns 410,196 shares of the company's stock worth $21,675,000 after acquiring an additional 41,647 shares during the last quarter. Canoe Financial LP lifted its holdings in shares of Carrier Global by 607.5% in the 4th quarter. Canoe Financial LP now owns 1,195,050 shares of the company's stock worth $63,146,000 after acquiring an additional 1,026,147 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its stake in shares of Carrier Global by 13.5% in the 3rd quarter. Mackenzie Financial Corp now owns 544,054 shares of the company's stock valued at $32,480,000 after purchasing an additional 64,848 shares in the last quarter. Hedge funds and other institutional investors own 91.00% of the company's stock.

Carrier Global Stock Performance

Shares of NYSE:CARR opened at $67.80 on Friday. The company has a market cap of $56.31 billion, a price-to-earnings ratio of 44.60, a price-to-earnings-growth ratio of 2.67 and a beta of 1.31. The company has a 50-day moving average price of $67.88 and a 200-day moving average price of $62.04. The company has a current ratio of 1.05, a quick ratio of 0.75 and a debt-to-equity ratio of 0.76. Carrier Global Corporation has a 12 month low of $50.24 and a 12 month high of $81.09.

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

Carrier Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Tuesday, July 21st will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Tuesday, July 21st. Carrier Global's dividend payout ratio (DPR) is currently 63.16%.

Analysts Set New Price Targets

Several equities analysts recently commented on CARR shares. Zacks Research raised shares of Carrier Global from a "strong sell" rating to a "hold" rating in a report on Tuesday, April 7th. Citigroup upped their price target on shares of Carrier Global from $72.00 to $79.00 and gave the company a "buy" rating in a research report on Friday, May 1st. Morgan Stanley raised their price objective on Carrier Global from $55.00 to $60.00 and gave the company an "equal weight" rating in a research note on Thursday, May 28th. Evercore lifted their price objective on Carrier Global from $75.00 to $85.00 in a report on Friday, May 1st. Finally, JPMorgan Chase & Co. boosted their target price on Carrier Global from $63.00 to $67.00 and gave the company a "neutral" rating in a research note on Thursday, May 14th. Twelve research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat, Carrier Global has a consensus rating of "Moderate Buy" and an average target price of $73.46.

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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