Wealthfront Advisers LLC Buys Shares of 97,737 Carrier Global Corporation $CARR

Key Points

• Wealthfront Advisers acquired 97,737 shares of Carrier Global in the second quarter, valued at approximately $7.17 million. 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, above the reported opening price of $61.13.
• Carrier exceeded quarterly expectations, reporting $0.86 in adjusted earnings per share and $6.35 billion in revenue. The company also paid a quarterly dividend of $0.24 per share, representing a 1.6% annualized yield.

Wealthfront Advisers LLC acquired a new stake in Carrier Global Corporation (NYSE:CARR - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 97,737 shares of the company's stock, valued at approximately $7,169,000.

Other large investors have also recently added to or reduced their stakes in the company. Foster & Motley Inc. acquired a new stake in Carrier Global during the 2nd quarter worth approximately $457,000. Ontario Teachers Pension Plan Board purchased a new stake in shares of Carrier Global during the second quarter worth $65,340,000. Main Street Financial Solutions LLC acquired a new stake in shares of Carrier Global in the second quarter valued at $232,000. First National Bank of Omaha acquired a new stake in shares of Carrier Global in the second quarter valued at $574,000. Finally, Mowery & Schoenfeld Wealth Management LLC purchased a new position in Carrier Global in the second quarter valued at $58,000. 91.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CARR has been the topic of a number of analyst reports. Sanford C. Bernstein reaffirmed a "market perform" rating and issued a $78.00 price target on shares of Carrier Global in a research report on Thursday, July 30th. 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 research note on Thursday, May 14th. Wells Fargo & Company raised their target price on shares of Carrier Global from $58.00 to $71.00 in a report on Friday, May 1st. Evercore lifted their price target on shares of Carrier Global from $75.00 to $85.00 in a research note on Friday, May 1st. Finally, Wolfe Research reiterated an "outperform" rating and set a $80.00 price target on shares of Carrier Global in a report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $73.67.

Carrier Global Stock Performance

Shares of CARR opened at $61.13 on Thursday. The company has a market capitalization of $50.39 billion, a price-to-earnings ratio of 42.45, a price-to-earnings-growth ratio of 2.27 and a beta of 1.31. Carrier Global Corporation has a 52-week low of $50.24 and a 52-week high of $76.76. The company has a quick ratio of 0.72, a current ratio of 1.02 and a debt-to-equity ratio of 0.77. The stock has a 50 day moving average price of $67.75 and a 200 day moving average price of $64.13.

Carrier Global (NYSE:CARR - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The company reported $0.86 earnings per share for the quarter, topping analysts' consensus estimates of $0.82 by $0.04. The company had revenue of $6.35 billion for the quarter, compared to analysts' expectations of $6.02 billion. Carrier Global had a net margin of 5.52% and a return on equity of 14.68%. The firm's revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter last year, the company earned $0.92 earnings per share. Carrier Global has set its FY 2026 guidance at 2.900-2.900 EPS. Research analysts predict that Carrier Global Corporation will post 2.89 EPS for the current fiscal year.

Carrier Global Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Tuesday, July 21st were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Tuesday, July 21st. Carrier Global's dividend payout ratio (DPR) is 66.67%.

About Carrier Global

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.

Want to see what other hedge funds are holding CARR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Carrier Global Corporation (NYSE:CARR - Free Report).

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source