Meeder Advisory Services Inc. Takes $1.80 Million Position in Carrier Global Corporation $CARR

Meeder Advisory Services Inc. purchased a new position in shares of Carrier Global Corporation (NYSE:CARR) in the second quarter, Holdings Channel.com reports. The fund purchased 24,511 shares of the company’s stock, valued at approximately $1,798,000.

Several other institutional investors and hedge funds have also modified their holdings of CARR. State Street Corp boosted its stake in Carrier Global by 1.1% in the fourth 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 in the last quarter. Morgan Stanley raised its stake in Carrier Global by 1.8% during the fourth quarter. Morgan Stanley now owns 11,757,449 shares of the company’s stock worth $621,264,000 after acquiring an additional 210,952 shares in the last quarter. Bank of New York Mellon Corp bought a new position in shares of Carrier Global in the second quarter worth about $590,759,000. Norges Bank bought a new position in shares of Carrier Global in the fourth quarter worth about $380,299,000. Finally, Fiera Capital Corp boosted its stake in shares of Carrier Global by 5.3% in the 4th quarter. Fiera Capital Corp now owns 6,923,485 shares of the company’s stock valued at $365,837,000 after purchasing an additional 348,812 shares in the last quarter. 91.00% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CARR. Royal Bank Of Canada lifted their price target on shares of Carrier Global from $71.00 to $81.00 and gave the company an “outperform” rating in a report on Friday, May 1st. Sanford C. Bernstein restated a “market perform” rating and issued a $78.00 target price on shares of Carrier Global in a research report on Thursday, July 30th. Wells Fargo & Company raised their price objective on Carrier Global from $58.00 to $71.00 in a report on Friday, May 1st. Evercore boosted their price objective on Carrier Global from $75.00 to $85.00 in a research report on Friday, May 1st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Carrier Global in a research report on Monday, July 20th. One 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $73.67.

Carrier Global Stock Down 1.9%

Shares of CARR opened at $61.38 on Wednesday. The stock’s 50-day moving average price is $67.89 and its two-hundred day moving average price is $64.12. Carrier Global Corporation has a 12 month low of $50.24 and a 12 month high of $76.76. The company has a market capitalization of $50.59 billion, a PE ratio of 42.62, a PEG ratio of 2.32 and a beta of 1.31. The company has a current ratio of 1.02, a quick ratio of 0.72 and a debt-to-equity ratio of 0.77.

Carrier Global (NYSE:CARR) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.04. Carrier Global had a return on equity of 14.68% and a net margin of 5.52%.The company had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.02 billion. During the same quarter in the prior year, the firm posted $0.92 earnings per share. The business’s quarterly revenue was up 3.9% on a year-over-year basis. Carrier Global has set its FY 2026 guidance at 2.900-2.900 EPS. On average, analysts anticipate 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 given 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 dividend payout ratio is currently 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.