Principal Financial Group Inc. Decreases Stake in Carrier Global Corporation $CARR

Principal Financial Group Inc. lessened its holdings in shares of Carrier Global Corporation (NYSE:CARR) by 7.7% in the first quarter, Holdings Channel reports. The firm owned 1,610,421 shares of the company’s stock after selling 135,187 shares during the period. Principal Financial Group Inc.’s holdings in Carrier Global were worth $90,683,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC raised its stake in shares of Carrier Global by 30.3% in the 4th quarter. Brighton Jones LLC now owns 7,958 shares of the company’s stock valued at $543,000 after acquiring an additional 1,850 shares during the period. AQR Capital Management LLC boosted its position in Carrier Global by 51.5% during the 1st quarter. AQR Capital Management LLC now owns 68,225 shares of the company’s stock worth $4,236,000 after purchasing an additional 23,200 shares during the period. United Bank increased its holdings in Carrier Global by 41.2% in the 2nd quarter. United Bank now owns 16,991 shares of the company’s stock valued at $1,244,000 after purchasing an additional 4,956 shares in the last quarter. Schnieders Capital Management LLC. raised its position in Carrier Global by 33.7% in the second quarter. Schnieders Capital Management LLC. now owns 16,967 shares of the company’s stock valued at $1,242,000 after purchasing an additional 4,277 shares during the period. Finally, Guggenheim Capital LLC raised its position in Carrier Global by 6.0% in the second quarter. Guggenheim Capital LLC now owns 9,903 shares of the company’s stock valued at $725,000 after purchasing an additional 561 shares during the period. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Trading Down 1.4%

NYSE:CARR opened at $68.78 on Thursday. The company has a quick ratio of 0.75, a current ratio of 1.05 and a debt-to-equity ratio of 0.76. The business’s 50 day moving average is $68.19 and its two-hundred day moving average is $62.49. Carrier Global Corporation has a 52 week low of $50.24 and a 52 week high of $81.09. The company has a market cap of $57.13 billion, a PE ratio of 45.25, a P/E/G ratio of 2.79 and a beta of 1.31.

Carrier Global (NYSE:CARR) last issued its earnings results on Thursday, April 30th. The company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.51 by $0.06. Carrier Global had a return on equity of 14.81% and a net margin of 5.99%.The company had revenue of $5.34 billion during the quarter, compared to analyst estimates of $5.01 billion. During the same quarter last year, the firm earned $0.65 EPS. The business’s revenue was up 2.4% on a year-over-year basis. Carrier Global has set its FY 2026 guidance at 2.800-2.800 EPS. On average, analysts predict that Carrier Global Corporation will post 2.79 EPS for the current year.

Carrier Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, July 21st will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, July 21st. Carrier Global’s payout ratio is currently 63.16%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on CARR shares. Citigroup upped their target price on Carrier Global from $79.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday. Weiss Ratings upgraded Carrier Global from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, April 22nd. JPMorgan Chase & Co. boosted their price target on Carrier Global from $63.00 to $67.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Rothschild & Co Redburn upped their price target on Carrier Global from $61.00 to $73.00 and gave the stock a “neutral” rating in a report on Tuesday, May 5th. Finally, The Goldman Sachs Group increased their price objective on shares of Carrier Global from $74.00 to $80.00 in a research report on Friday, May 1st. Twelve research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $73.51.

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.