Ieq Capital LLC Makes New $12.41 Million Investment in Carrier Global Corporation $CARR

Ieq Capital LLC purchased a new position in Carrier Global Corporation (NYSE:CARR) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 169,218 shares of the company’s stock, valued at approximately $12,412,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CARR. Cardinal Capital Management Inc. boosted its holdings in Carrier Global by 7.1% in the second quarter. Cardinal Capital Management Inc. now owns 575,335 shares of the company’s stock worth $42,201,000 after purchasing an additional 37,934 shares during the last quarter. California Public Employees Retirement System raised its stake in Carrier Global by 1.5% during the 1st quarter. California Public Employees Retirement System now owns 1,430,425 shares of the company’s stock valued at $80,547,000 after buying an additional 21,367 shares during the last quarter. Mandatum Life Insurance Co Ltd boosted its stake in shares of Carrier Global by 36.1% in the 1st quarter. Mandatum Life Insurance Co Ltd now owns 111,157 shares of the company’s stock worth $6,259,000 after buying an additional 29,495 shares during the last quarter. Avity Investment Management Inc. grew its holdings in shares of Carrier Global by 33.9% in the second quarter. Avity Investment Management Inc. now owns 194,484 shares of the company’s stock worth $14,265,000 after acquiring an additional 49,260 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in Carrier Global by 275.3% during the second quarter. Assenagon Asset Management S.A. now owns 114,739 shares of the company’s stock valued at $8,416,000 after acquiring an additional 84,165 shares during the last quarter. 91.00% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CARR. Mizuho increased their target price on Carrier Global from $67.00 to $75.00 in a report on Friday, May 1st. Morgan Stanley upped 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. Zacks Research upgraded shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 30th. The Goldman Sachs Group lifted their price target on shares of Carrier Global from $74.00 to $80.00 in a research note on Friday, May 1st. Finally, Citigroup boosted their price objective on shares of Carrier Global from $79.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.67.

Carrier Global Price Performance

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 price-to-earnings ratio of 41.94, a PEG ratio of 2.23 and a beta of 1.31. The company’s 50 day moving average is $67.37 and its two-hundred day moving average is $64.11. The company has a current ratio of 1.02, a quick ratio of 0.72 and a debt-to-equity ratio of 0.77.

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

Carrier Global Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Tuesday, July 21st were paid a dividend of $0.24 per share. The ex-dividend date was Tuesday, July 21st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.6%. Carrier Global’s payout ratio is 66.67%.

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.