Tocqueville Asset Management L.P. Purchases Shares of 166,479 Carrier Global Corporation $CARR

Key Points

• Tocqueville Asset Management acquired 166,479 Carrier Global shares worth approximately $12.2 million during the second quarter. Institutional investors collectively own about 91% of the company.
• Analysts maintain a generally positive outlook, with Carrier rated a consensus “Moderate Buy” and an average price target of $73.67; several firms recently raised their targets.
• Carrier exceeded quarterly expectations with adjusted EPS of $0.86 versus $0.82 expected and revenue of $6.35 billion. The company also paid a $0.24 quarterly dividend, equivalent to a 1.6% annualized yield.

Tocqueville Asset Management L.P. acquired a new position in Carrier Global Corporation (NYSE:CARR - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 166,479 shares of the company's stock, valued at approximately $12,211,000.

Several other hedge funds and other institutional investors have also bought and sold shares of CARR. State Street Corp grew its stake in shares of Carrier Global by 1.1% in the 4th quarter. State Street Corp now owns 33,728,829 shares of the company's stock valued at $1,782,231,000 after buying an additional 351,490 shares during the period. Morgan Stanley raised its stake in Carrier Global by 1.8% during the 4th quarter. Morgan Stanley now owns 11,757,449 shares of the company's stock worth $621,264,000 after buying an additional 210,952 shares during the period. Bank of New York Mellon Corp acquired a new position in Carrier Global during the 2nd quarter worth approximately $590,759,000. Norges Bank bought a new position in Carrier Global in the fourth quarter worth approximately $380,299,000. Finally, Fiera Capital Corp boosted its holdings in Carrier Global by 5.3% in the fourth quarter. Fiera Capital Corp now owns 6,923,485 shares of the company's stock worth $365,837,000 after acquiring an additional 348,812 shares in the last quarter. Institutional investors and hedge funds own 91.00% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Argus boosted their price target on shares of Carrier Global from $72.00 to $75.00 and gave the company a "buy" rating in a research note on Tuesday, May 5th. Sanford C. Bernstein reaffirmed a "market perform" rating and issued a $78.00 price objective on shares of Carrier Global in a research note on Thursday, July 30th. Evercore lifted their price objective on shares of Carrier Global from $75.00 to $85.00 in a report on Friday, May 1st. Mizuho boosted their target price on shares of Carrier Global from $67.00 to $75.00 in a research report on Friday, May 1st. Finally, JPMorgan Chase & Co. upped their target price on shares of Carrier Global from $63.00 to $67.00 and gave the stock a "neutral" rating in a report on Thursday, May 14th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $73.67.

Carrier Global Price Performance

Carrier Global stock opened at $61.13 on Thursday. Carrier Global Corporation has a 52 week low of $50.24 and a 52 week high of $76.76. The company's 50 day moving average price is $67.75 and its two-hundred day moving average price is $64.13. The stock has a market cap of $50.39 billion, a P/E ratio of 42.45, a P/E/G ratio of 2.27 and a beta of 1.31. The company has a quick ratio of 0.72, a current ratio of 1.02 and a debt-to-equity ratio of 0.77.

Carrier Global (NYSE:CARR - Get Free Report) last released its earnings results on Tuesday, July 28th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.04. The company had revenue of $6.35 billion during 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 quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.92 earnings per share. Carrier Global has set its FY 2026 guidance at 2.900-2.900 EPS. On average, equities analysts predict that Carrier Global Corporation will post 2.89 earnings per share for the current year.

Carrier Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Tuesday, July 21st were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Tuesday, July 21st. Carrier Global's dividend 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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