Letson Investment Management Inc. Trims Position in Carrier Global Corporation $CARR

Letson Investment Management Inc. trimmed its position in Carrier Global Corporation (NYSE:CARR) by 17.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 82,650 shares of the company’s stock after selling 17,074 shares during the quarter. Carrier Global makes up approximately 1.8% of Letson Investment Management Inc.’s portfolio, making the stock its 16th biggest holding. Letson Investment Management Inc.’s holdings in Carrier Global were worth $4,654,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of CARR. Capital International Investors boosted its holdings in Carrier Global by 6.7% in the 3rd quarter. Capital International Investors now owns 57,982,302 shares of the company’s stock valued at $3,461,142,000 after purchasing an additional 3,630,524 shares during the period. State Street Corp increased its holdings 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 worth $1,782,231,000 after purchasing an additional 351,490 shares during the period. Dodge & Cox increased its holdings in shares of Carrier Global by 5.1% in the third quarter. Dodge & Cox now owns 13,427,697 shares of the company’s stock worth $801,634,000 after purchasing an additional 651,648 shares during the period. Morgan Stanley raised its position in shares of Carrier Global by 1.8% in the fourth quarter. Morgan Stanley now owns 11,757,449 shares of the company’s stock worth $621,264,000 after buying an additional 210,952 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Carrier Global in the fourth quarter worth $380,299,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Down 1.6%

CARR opened at $72.21 on Thursday. The business’s fifty day simple moving average is $67.01 and its 200 day simple moving average is $61.37. Carrier Global Corporation has a 52 week low of $50.24 and a 52 week high of $81.09. 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 stock has a market cap of $59.98 billion, a PE ratio of 47.51, a P/E/G ratio of 2.94 and a beta of 1.31.

Carrier Global (NYSE:CARR) last issued its quarterly earnings results on Thursday, April 30th. The company reported $0.57 earnings per share (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 firm had revenue of $5.34 billion during the quarter, compared to analyst estimates of $5.01 billion. During the same quarter in the previous year, the company posted $0.65 earnings per share. The company’s revenue was up 2.4% compared to the same quarter last year. Carrier Global has set its FY 2026 guidance at 2.800-2.800 EPS. As a group, research analysts expect that Carrier Global Corporation will post 2.78 earnings per share for the current fiscal year.

Carrier Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Tuesday, July 21st will be given a $0.24 dividend. The ex-dividend date is Tuesday, July 21st. This represents a $0.96 dividend on an annualized basis and a yield of 1.3%. Carrier Global’s payout ratio is presently 63.16%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Barclays boosted their target price on Carrier Global from $67.00 to $79.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Wolfe Research raised their price target on Carrier Global from $75.00 to $76.00 and gave the company an “outperform” rating in a report on Wednesday, April 8th. Evercore lifted their price target on Carrier Global from $75.00 to $85.00 in a research report on Friday, May 1st. Citigroup boosted their price objective on Carrier Global from $72.00 to $79.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Finally, Argus upped their price objective on shares of Carrier Global from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Twelve analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $73.25.

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.