Somerville Kurt F Makes New $2.21 Million Investment in Carrier Global Corporation $CARR

Somerville Kurt F purchased a new position in shares of Carrier Global Corporation (NYSE:CARR) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 30,105 shares of the company’s stock, valued at approximately $2,208,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CARR. Johnson Financial Group Inc. acquired a new position in Carrier Global during the second quarter worth about $25,000. Meeder Asset Management Inc. purchased a new stake in shares of Carrier Global during the 2nd quarter worth approximately $26,000. Financial Management Professionals Inc. grew its holdings in shares of Carrier Global by 142.4% in the 2nd quarter. Financial Management Professionals Inc. now owns 383 shares of the company’s stock worth $28,000 after acquiring an additional 225 shares during the period. Torren Management LLC acquired a new stake in shares of Carrier Global in the 4th quarter worth approximately $25,000. Finally, Garton & Associates Financial Advisors LLC acquired a new stake in shares of Carrier Global in the 4th quarter worth approximately $33,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CARR. Morgan Stanley lifted their price objective on Carrier Global from $55.00 to $60.00 and gave the stock an “equal weight” rating in a report on Thursday, May 28th. Barclays upped their target price on Carrier Global from $67.00 to $79.00 and gave the company an “overweight” rating in a report on Friday, May 1st. JPMorgan Chase & Co. raised 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. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $78.00 price target on shares of Carrier Global in a research note on Thursday, July 30th. Finally, Robert W. Baird lifted their price target on Carrier Global from $70.00 to $75.00 in a research note on Friday, May 1st. 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 data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $73.67.

Carrier Global Trading Down 0.5%

Shares of CARR opened at $61.13 on Thursday. 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 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.

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 analysts’ consensus estimates of $0.82 by $0.04. The firm had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.02 billion. Carrier Global had a return on equity of 14.68% and a net margin of 5.52%.Carrier Global’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.92 EPS. 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 business also recently declared a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Tuesday, July 21st were issued 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 payout ratio is 66.67%.

Carrier Global Company 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.