Reynders McVeigh Capital Management LLC Has $67.35 Million Stock Holdings in Carrier Global Corporation $CARR

Reynders McVeigh Capital Management LLC raised its position in shares of Carrier Global Corporation (NYSE:CARR) by 3.0% in the second quarter, HoldingsChannel reports. The fund owned 918,219 shares of the company’s stock after acquiring an additional 27,061 shares during the period. Carrier Global accounts for approximately 2.7% of Reynders McVeigh Capital Management LLC’s investment portfolio, making the stock its 13th largest holding. Reynders McVeigh Capital Management LLC’s holdings in Carrier Global were worth $67,351,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Bank of New York Mellon Corp acquired a new stake in Carrier Global during the second quarter worth approximately $590,759,000. Bank of America Corp DE bought a new position in shares of Carrier Global in the second quarter worth $572,908,000. Norges Bank acquired a new position in Carrier Global in the fourth quarter valued at about $380,299,000. Legal & General Group Plc acquired a new position in Carrier Global in the second quarter valued at about $322,366,000. Finally, Primecap Management Co. CA bought a new stake in Carrier Global during the second quarter worth about $283,585,000. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on CARR shares. Morgan Stanley raised their target price on shares of Carrier Global from $55.00 to $60.00 and gave the company an “equal weight” rating in a report on Thursday, May 28th. Citigroup increased their price target on Carrier Global from $79.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, July 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of Carrier Global in a research report on Monday, July 20th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $78.00 price target on shares of Carrier Global in a research report on Thursday, July 30th. Finally, Wolfe Research reaffirmed an “outperform” rating and issued a $80.00 price objective on shares of Carrier Global in a research note on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $73.67.

Carrier Global Stock Down 3.0%

Shares of NYSE:CARR traded down $1.72 during trading on Tuesday, reaching $55.54. 13,266,116 shares of the stock were exchanged, compared to its average volume of 6,795,250. 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 stock has a fifty day moving average of $62.78 and a two-hundred day moving average of $63.41. The firm has a market cap of $45.78 billion, a price-to-earnings ratio of 38.57, a price-to-earnings-growth ratio of 2.21 and a beta of 1.30. Carrier Global Corporation has a 1-year low of $50.24 and a 1-year high of $76.76.

Carrier Global (NYSE:CARR) last issued its quarterly earnings data on Tuesday, July 28th. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.82 by $0.04. The firm had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.02 billion. Carrier Global had a return on equity of 14.68% and a net margin of 5.52%.The company’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.92 earnings per share. Carrier Global has set its FY 2026 guidance at 2.900-2.900 EPS. Research analysts anticipate that Carrier Global Corporation will post 2.87 earnings per share for the current fiscal year.

Carrier Global Company Profile

Carrier Global Corporation (NYSE:CARR) is a global provider of intelligent climate and energy solutions. The company develops and manufactures heating, ventilation and air conditioning (HVAC) systems and related controls, building automation technologies, and services designed to improve indoor comfort, energy efficiency and building performance.

Carrier also provides refrigeration equipment and systems for commercial, industrial and transportation applications, supporting food preservation and cold-chain operations.