Empowered Funds LLC Takes $5.73 Million Position in Carrier Global Corporation $CARR

Empowered Funds LLC purchased a new stake in shares of Carrier Global Corporation (NYSE:CARR) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 78,067 shares of the company’s stock, valued at approximately $5,726,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. State Street Corp increased its stake in 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 last quarter. Morgan Stanley lifted its position in shares of 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 in the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Carrier Global in the 2nd quarter worth approximately $590,759,000. Bank of America Corp DE purchased a new position in shares of Carrier Global in the 2nd quarter worth approximately $572,908,000. Finally, Norges Bank bought a new position in shares of Carrier Global in the fourth quarter valued at approximately $380,299,000. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Carrier Global Stock Performance

NYSE:CARR opened at $58.73 on Monday. The firm has a market cap of $48.41 billion, a PE ratio of 40.78, a price-to-earnings-growth ratio of 2.18 and a beta of 1.31. Carrier Global Corporation has a fifty-two week low of $50.24 and a fifty-two week high of $76.76. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.72 and a current ratio of 1.02. The business has a 50 day moving average price of $66.15 and a 200-day moving average price of $63.97.

Carrier Global (NYSE:CARR) last posted 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. Carrier Global had a return on equity of 14.68% and a net margin of 5.52%.The firm had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.02 billion. During the same period in the previous year, the firm earned $0.92 earnings per share. The business’s revenue 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. Equities research analysts predict that Carrier Global Corporation will post 2.87 earnings per share for the current year.

Carrier Global Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Tuesday, July 21st were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Tuesday, July 21st. Carrier Global’s dividend payout ratio is 66.67%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CARR. JPMorgan Chase & Co. lifted their price target on Carrier Global from $63.00 to $67.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Weiss Ratings reissued a “hold (c)” rating on shares of Carrier Global in a research report on Monday, July 20th. Argus increased their price target on Carrier Global from $72.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $78.00 price objective on shares of Carrier Global in a research note on Thursday, July 30th. Finally, Citigroup lifted their target price on Carrier Global from $79.00 to $80.00 and gave the company a “buy” rating in a report on Monday, July 13th. One research 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, Carrier Global presently has a consensus rating of “Moderate Buy” and an average price target of $73.67.

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.