Summitry LLC Buys 429,060 Shares of Carrier Global Corporation $CARR

Summitry LLC raised its stake in Carrier Global Corporation (NYSE:CARR) by 43.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,419,812 shares of the company’s stock after acquiring an additional 429,060 shares during the quarter. Carrier Global comprises 2.8% of Summitry LLC’s holdings, making the stock its 6th largest position. Summitry LLC’s holdings in Carrier Global were worth $79,950,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the company. State Street Corp grew its position in shares of 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 purchasing an additional 351,490 shares during the last quarter. Morgan Stanley lifted its holdings in 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 purchasing an additional 210,952 shares during the last quarter. Norges Bank acquired a new stake in Carrier Global during the 4th quarter worth approximately $380,299,000. Fiera Capital Corp boosted its stake in 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 during the period. Finally, Bank of America Corp DE boosted its stake in Carrier Global by 14.4% in the 1st quarter. Bank of America Corp DE now owns 6,592,682 shares of the company’s stock valued at $371,234,000 after purchasing an additional 831,327 shares during the period. Institutional investors own 91.00% of the company’s stock.

Carrier Global Price Performance

Shares of NYSE:CARR opened at $61.95 on Friday. The firm has a 50 day moving average of $68.51 and a 200-day moving average of $63.48. Carrier Global Corporation has a 12 month low of $50.24 and a 12 month high of $76.76. The company has a current ratio of 1.02, a quick ratio of 0.75 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $51.07 billion, a PE ratio of 43.02, a PEG ratio of 2.38 and a beta of 1.31.

Carrier Global (NYSE:CARR) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.04. The business had revenue of $6.35 billion for the quarter, compared to analyst estimates 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 business posted $0.92 EPS. Carrier Global has set its FY 2026 guidance at 2.900-2.900 EPS. On average, equities research analysts predict that Carrier Global Corporation will post 2.88 EPS for the current fiscal year.

Carrier Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, July 21st will be paid a dividend of $0.24 per share. The ex-dividend date is Tuesday, July 21st. This represents a $0.96 annualized dividend and a yield of 1.5%. Carrier Global’s dividend payout ratio is presently 66.67%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. JPMorgan Chase & Co. increased their price objective on Carrier Global from $63.00 to $67.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Wolfe Research reissued an “outperform” rating and issued a $80.00 target price on shares of Carrier Global in a research report on Thursday, July 9th. Citigroup upped their price target on shares of Carrier Global from $79.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, July 13th. The Goldman Sachs Group raised their price target on shares of Carrier Global from $74.00 to $80.00 in a research report on Friday, May 1st. Finally, Argus lifted their price objective on shares of Carrier Global from $72.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Twelve investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Carrier Global presently has a consensus rating of “Moderate Buy” and a consensus target price of $73.67.

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.