Varma Mutual Pension Insurance Co Acquires Shares of 203,595 Carrier Global Corporation $CARR

Key Points

• Varma Mutual Pension Insurance Co. acquired 203,595 shares of Carrier Global during the second quarter, valued at approximately $14.9 million. Institutional investors and hedge funds collectively own about 91% of the company.
• Analysts maintain a generally positive outlook, with Carrier Global receiving a “Moderate Buy” consensus rating and an average price target of $73.67; several firms recently raised their targets.
• Carrier exceeded quarterly earnings and revenue expectations, reporting $0.86 in EPS and $6.35 billion in revenue. The company also pays a quarterly dividend of $0.24 per share, equal to a 1.6% annualized yield.

Varma Mutual Pension Insurance Co bought a new position in shares of Carrier Global Corporation (NYSE:CARR - Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 203,595 shares of the company's stock, valued at approximately $14,934,000.

Several other hedge funds also recently made changes to their positions in CARR. Westpac Banking Corp bought a new position in Carrier Global during the second quarter worth $57,000. Landscape Capital Management L.L.C. acquired a new position in Carrier Global in the second quarter worth $586,000. Korea Investment CORP acquired a new position in Carrier Global in the second quarter worth $49,649,000. EP Wealth Advisors LLC bought a new stake in Carrier Global during the second quarter valued at $3,080,000. Finally, Ieq Capital LLC bought a new stake in Carrier Global during the second quarter valued at $12,412,000. Institutional investors and hedge funds own 91.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Barclays raised their price target on shares of Carrier Global from $67.00 to $79.00 and gave the stock an "overweight" rating in a research report on Friday, May 1st. Evercore boosted their price objective on shares of Carrier Global from $75.00 to $85.00 in a research report on Friday, May 1st. Robert W. Baird increased their price objective on shares of Carrier Global from $70.00 to $75.00 in a research note on Friday, May 1st. Zacks Research raised shares of Carrier Global from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 30th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Carrier Global in a report on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $73.67.

Carrier Global Price Performance

Shares of NYSE CARR opened at $60.40 on Monday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.02 and a quick ratio of 0.72. The firm has a market capitalization of $49.79 billion, a PE ratio of 41.94, a P/E/G ratio of 2.23 and a beta of 1.31. Carrier Global Corporation has a 1-year low of $50.24 and a 1-year high of $76.76. The business's fifty day moving average price is $67.37 and its two-hundred day moving average price is $64.14.

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 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 company had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.02 billion. During the same quarter in the previous year, the company posted $0.92 earnings per share. The company's revenue for the quarter was up 3.9% compared to the same quarter last year. Carrier Global has set its FY 2026 guidance at 2.900-2.900 EPS. On average, research analysts expect that Carrier Global Corporation will post 2.89 EPS for the current year.

Carrier Global Announces Dividend

The company 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. This represents a $0.96 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Tuesday, July 21st. Carrier Global's payout ratio is presently 66.67%.

Carrier Global 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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