NewEdge Wealth LLC Invests $1.48 Million in Carrier Global Corporation $CARR

NewEdge Wealth LLC acquired a new stake in Carrier Global Corporation (NYSE:CARR) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 20,231 shares of the company’s stock, valued at approximately $1,484,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Bank of New York Mellon Corp bought a new stake in Carrier Global during the second quarter worth $590,759,000. Norges Bank bought a new position in shares of Carrier Global in the 4th quarter valued at about $380,299,000. Deutsche Bank AG acquired a new position in shares of Carrier Global during the 2nd quarter worth about $166,165,000. Ontario Teachers Pension Plan Board acquired a new position in shares of Carrier Global during the 4th quarter worth about $99,839,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Carrier Global in the 2nd quarter valued at about $136,714,000. 91.00% of the stock is owned by institutional investors.

Carrier Global Trading Up 0.4%

Shares of NYSE:CARR opened at $60.40 on Friday. Carrier Global Corporation has a 12-month low of $50.24 and a 12-month high of $76.76. The stock has a market cap of $49.79 billion, a PE ratio of 41.94, a P/E/G ratio of 2.22 and a beta of 1.31. The business has a 50 day moving average of $67.37 and a 200-day moving average of $64.11. The company has a quick ratio of 0.72, a current ratio of 1.02 and a debt-to-equity ratio of 0.77.

Carrier Global (NYSE:CARR) last announced its earnings results on Tuesday, July 28th. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.04. The company had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.02 billion. Carrier Global had a return on equity of 14.68% and a net margin of 5.52%.The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.92 earnings per share. Carrier Global has set its FY 2026 guidance at 2.900-2.900 EPS. As a group, equities research analysts forecast that Carrier Global Corporation will post 2.89 earnings per share for the current year.

Carrier Global Dividend Announcement

The company also recently disclosed 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. The ex-dividend date was Tuesday, July 21st. This represents a $0.96 annualized dividend and a yield of 1.6%. Carrier Global’s dividend payout ratio (DPR) is presently 66.67%.

Analyst Ratings Changes

CARR has been the subject of a number of research analyst reports. Barclays lifted their price target on Carrier Global from $67.00 to $79.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Mizuho raised their price objective on Carrier Global from $67.00 to $75.00 in a research report on Friday, May 1st. Zacks Research upgraded Carrier Global from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 30th. Citigroup boosted their target price on Carrier Global from $79.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, July 13th. Finally, Morgan Stanley increased their price target on Carrier Global from $55.00 to $60.00 and gave the company an “equal weight” rating in a research note on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average 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.