Westport Asset Management Inc. Purchases New Stake in Carrier Global Corporation $CARR

Key Points

• Westport Asset Management purchased 52,400 shares of Carrier Global worth approximately $3.84 million, making the stock its 21st-largest holding. Institutional investors collectively own about 91% of Carrier’s shares.
• Carrier reported quarterly EPS of $0.86 and revenue of $6.35 billion, surpassing analyst estimates of $0.82 EPS and $6.02 billion revenue; sales increased 3.9% year over year.
• Shares opened at $61.13, while analysts maintained a “Moderate Buy” consensus rating with an average price target of $73.67. The company also pays a quarterly dividend of $0.24, yielding approximately 1.6% annually.

Westport Asset Management Inc. purchased a new position in shares of Carrier Global Corporation (NYSE:CARR - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 52,400 shares of the company's stock, valued at approximately $3,844,000. Carrier Global accounts for about 1.6% of Westport Asset Management Inc.'s portfolio, making the stock its 21st largest holding.

Several other institutional investors have also recently made changes to their positions in CARR. Brighton Jones LLC raised its position in Carrier Global by 30.3% in the fourth quarter. Brighton Jones LLC now owns 7,958 shares of the company's stock valued at $543,000 after purchasing an additional 1,850 shares during the period. AQR Capital Management LLC lifted its position in shares of Carrier Global by 51.5% during the first quarter. AQR Capital Management LLC now owns 68,225 shares of the company's stock worth $4,236,000 after purchasing an additional 23,200 shares in the last quarter. United Bank lifted its holdings in Carrier Global by 41.2% during the 2nd quarter. United Bank now owns 16,991 shares of the company's stock worth $1,244,000 after buying an additional 4,956 shares in the last quarter. Schnieders Capital Management LLC. raised its stake in shares of Carrier Global by 33.7% in the second quarter. Schnieders Capital Management LLC. now owns 16,967 shares of the company's stock valued at $1,242,000 after acquiring an additional 4,277 shares in the last quarter. Finally, Guggenheim Capital LLC raised its position in Carrier Global by 6.0% in the 2nd quarter. Guggenheim Capital LLC now owns 9,903 shares of the company's stock valued at $725,000 after purchasing an additional 561 shares in the last quarter. Hedge funds and other institutional investors own 91.00% of the company's stock.

Carrier Global Trading Down 0.5%

Shares of CARR opened at $61.13 on Thursday. Carrier Global Corporation has a 1-year low of $50.24 and a 1-year high of $76.76. The stock has a market cap 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. The firm has a 50 day simple moving average of $67.75 and a 200-day simple moving average of $64.13. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.02 and a quick ratio of 0.72.

Carrier Global (NYSE:CARR - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.02 billion. Carrier Global had a return on equity of 14.68% and a net margin of 5.52%.The business's revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.92 earnings per share. Carrier Global has set its FY 2026 guidance at 2.900-2.900 EPS. Equities analysts forecast that Carrier Global Corporation will post 2.89 EPS for the current fiscal year.

Carrier Global Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Tuesday, July 21st were issued a $0.24 dividend. The ex-dividend date was Tuesday, July 21st. This represents a $0.96 annualized dividend and a yield of 1.6%. Carrier Global's payout ratio is 66.67%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Wells Fargo & Company increased their target price on Carrier Global from $58.00 to $71.00 in a report on Friday, May 1st. Morgan Stanley lifted their target price on shares of Carrier Global from $55.00 to $60.00 and gave the company an "equal weight" rating in a report on Thursday, May 28th. JPMorgan Chase & Co. boosted their price target on Carrier Global from $63.00 to $67.00 and gave the company a "neutral" rating in a research report on Thursday, May 14th. Zacks Research raised shares of Carrier Global from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 30th. Finally, Citigroup increased their target price on Carrier Global from $79.00 to $80.00 and gave the stock a "buy" rating in a research note on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, Carrier Global currently has a consensus rating of "Moderate Buy" and a consensus price target of $73.67.

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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