Cibc World Market Inc. Buys New Shares in Carrier Global Corporation $CARR

Cibc World Market Inc. bought a new position in Carrier Global Corporation (NYSE:CARR) in the second quarter, Holdings Channel.com reports. The firm bought 113,395 shares of the company’s stock, valued at approximately $8,318,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CARR. Torren Management LLC purchased a new stake in Carrier Global during the 4th quarter valued at about $25,000. Johnson Financial Group Inc. purchased a new position in shares of Carrier Global in the second quarter worth about $25,000. Meeder Asset Management Inc. purchased a new position in shares of Carrier Global in the second quarter worth about $26,000. Financial Management Professionals Inc. lifted its holdings in shares of Carrier Global by 142.4% during the second quarter. Financial Management Professionals Inc. now owns 383 shares of the company’s stock worth $28,000 after purchasing an additional 225 shares during the period. Finally, Garton & Associates Financial Advisors LLC acquired a new stake in shares of Carrier Global during the fourth quarter worth about $33,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on CARR shares. Citigroup increased their price target on shares of Carrier Global from $79.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, July 13th. Robert W. Baird upped their price objective on shares of Carrier Global from $70.00 to $75.00 in a report on Friday, May 1st. Morgan Stanley increased their price objective on shares of Carrier Global from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 28th. Weiss Ratings restated a “hold (c)” rating on shares of Carrier Global in a research report on Monday, July 20th. Finally, The Goldman Sachs Group upped their price target on shares of Carrier Global from $74.00 to $80.00 in a report on Friday, May 1st. One 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 stock. Based on data from MarketBeat.com, Carrier Global presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.67.

Carrier Global Stock Performance

Shares of NYSE CARR opened at $58.51 on Wednesday. The company has a market capitalization of $48.23 billion, a PE ratio of 40.63, a price-to-earnings-growth ratio of 2.21 and a beta of 1.31. 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 company’s fifty day moving average price is $66.89 and its 200 day moving average price is $64.09. Carrier Global Corporation has a 1 year low of $50.24 and a 1 year high of $76.76.

Carrier Global (NYSE:CARR) last released its quarterly earnings data on Tuesday, July 28th. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.04. The company had revenue of $6.35 billion during the quarter, compared to analysts’ expectations 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 in the previous year, the company earned $0.92 earnings per share. Carrier Global has set its FY 2026 guidance at 2.900-2.900 EPS. On average, research analysts predict that Carrier Global Corporation will post 2.89 earnings per share for the current year.

Carrier Global Announces Dividend

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