Bank of New York Mellon Corp Acquires New Holdings in Carrier Global Corporation $CARR

Bank of New York Mellon Corp purchased a new stake in Carrier Global Corporation (NYSE:CARR) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 8,053,967 shares of the company’s stock, valued at approximately $590,759,000.

Several other large investors have also modified their holdings of CARR. Brighton Jones LLC increased its position in shares of Carrier Global by 30.3% in the fourth quarter. Brighton Jones LLC now owns 7,958 shares of the company’s stock worth $543,000 after acquiring an additional 1,850 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Carrier Global by 51.5% during the 1st quarter. AQR Capital Management LLC now owns 68,225 shares of the company’s stock valued at $4,236,000 after acquiring an additional 23,200 shares in the last quarter. United Bank boosted its position 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 purchasing an additional 4,956 shares during the period. Schnieders Capital Management LLC. boosted its position in Carrier Global by 33.7% during the 2nd quarter. Schnieders Capital Management LLC. now owns 16,967 shares of the company’s stock worth $1,242,000 after purchasing an additional 4,277 shares during the period. Finally, Guggenheim Capital LLC increased its holdings 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. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Carrier Global Price Performance

Shares of NYSE CARR opened at $60.40 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.02 and a quick ratio of 0.72. The firm has a market capitalization of $49.79 billion, a PE ratio of 41.94, a P/E/G ratio of 2.22 and a beta of 1.31. Carrier Global Corporation has a 1-year low of $50.24 and a 1-year high of $76.76. The business’s fifty day moving average price is $67.37 and its two-hundred day moving average price is $64.11.

Carrier Global (NYSE:CARR) last announced its quarterly 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. The company had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.02 billion. Carrier Global had a net margin of 5.52% and a return on equity of 14.68%. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.92 earnings per share. Carrier Global has set its FY 2026 guidance at 2.900-2.900 EPS. On average, research analysts expect that Carrier Global Corporation will post 2.89 EPS for the current year.

Carrier Global Dividend Announcement

The business also recently declared 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 dividend yield of 1.6%. The ex-dividend date was Tuesday, July 21st. Carrier Global’s payout ratio is 66.67%.

Wall Street Analyst Weigh In

CARR has been the subject of several recent research reports. Wolfe Research reaffirmed an “outperform” rating and issued a $80.00 price objective on shares of Carrier Global in a research report on Thursday, July 9th. Wells Fargo & Company upped their target price on shares of Carrier Global from $58.00 to $71.00 in a research note on Friday, May 1st. Citigroup raised their price target on shares of Carrier Global from $79.00 to $80.00 and gave the company a “buy” rating in a report on Monday, July 13th. 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, Barclays boosted their price objective on shares of Carrier Global from $67.00 to $79.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.