Primecap Management Co. CA Invests $283.58 Million in Carrier Global Corporation $CARR

Primecap Management Co. CA acquired a new position in Carrier Global Corporation (NYSE:CARR) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 3,866,183 shares of the company’s stock, valued at approximately $283,585,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Torren Management LLC bought a new position in shares of Carrier Global during the 4th quarter worth approximately $25,000. Johnson Financial Group Inc. acquired a new stake in shares of Carrier Global during the 2nd quarter worth approximately $25,000. Meeder Asset Management Inc. bought a new stake in shares of Carrier Global in the 2nd quarter valued at $26,000. Financial Management Professionals Inc. increased its stake in shares of Carrier Global by 142.4% in the 2nd quarter. Financial Management Professionals Inc. now owns 383 shares of the company’s stock valued at $28,000 after acquiring an additional 225 shares in the last quarter. Finally, Garton & Associates Financial Advisors LLC acquired a new position in shares of Carrier Global during the 4th quarter valued at $33,000. 91.00% of the stock is owned by institutional investors and hedge funds.

Carrier Global Stock Performance

CARR stock opened at $58.51 on Wednesday. The company has a quick ratio of 0.72, a current ratio of 1.02 and a debt-to-equity ratio of 0.77. The firm has a market cap of $48.23 billion, a PE ratio of 40.63, a P/E/G ratio of 2.21 and a beta of 1.31. The business has a 50 day moving average of $66.89 and a 200-day moving average of $64.09. Carrier Global Corporation has a 12-month low of $50.24 and a 12-month high of $76.76.

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

Carrier Global Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts have commented on CARR shares. Barclays raised their price target on shares of Carrier Global from $67.00 to $79.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Argus upped their price objective on shares of Carrier Global from $72.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Zacks Research raised shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 30th. Weiss Ratings restated a “hold (c)” rating on shares of Carrier Global in a research note on Monday, July 20th. Finally, Mizuho boosted their target price on Carrier Global from $67.00 to $75.00 in a research report on Friday, May 1st. One 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.