Dearborn Partners LLC Invests $2.82 Million in Carrier Global Corporation $CARR

Dearborn Partners LLC bought a new position in Carrier Global Corporation (NYSE:CARR) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 38,437 shares of the company’s stock, valued at approximately $2,819,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp boosted its holdings in shares of Carrier Global by 1.1% during 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. Morgan Stanley increased its holdings in Carrier Global by 1.8% during the 4th quarter. Morgan Stanley now owns 11,757,449 shares of the company’s stock valued at $621,264,000 after purchasing an additional 210,952 shares during the period. Bank of New York Mellon Corp bought a new position in Carrier Global during the 2nd quarter valued at approximately $590,759,000. Bank of America Corp DE purchased a new stake in Carrier Global in the 2nd quarter worth approximately $572,908,000. Finally, Norges Bank purchased a new stake in Carrier Global in the 4th quarter worth approximately $380,299,000. 91.00% of the stock is currently owned by institutional investors.

Carrier Global Trading Up 0.2%

CARR opened at $58.83 on Friday. The stock has a market cap of $48.50 billion, a PE ratio of 40.85, a PEG ratio of 2.17 and a beta of 1.31. 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 business has a 50 day moving average of $66.42 and a 200-day moving average of $64.02. Carrier Global Corporation has a 52 week low of $50.24 and a 52 week high of $76.76.

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, topping the consensus estimate of $0.82 by $0.04. The company had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.02 billion. Carrier Global had a return on equity of 14.68% and a net margin of 5.52%.The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.92 earnings per share. Carrier Global has set its FY 2026 guidance at 2.900-2.900 EPS. Equities research analysts predict that Carrier Global Corporation will post 2.89 earnings per share for the current fiscal year.

Carrier Global Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 10th. Stockholders 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 dividend yield of 1.6%. The ex-dividend date was Tuesday, July 21st. Carrier Global’s payout ratio is 66.67%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CARR. Mizuho boosted their target price on Carrier Global from $67.00 to $75.00 in a research note on Friday, May 1st. Morgan Stanley raised their price target on Carrier Global from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 28th. Wells Fargo & Company lifted their price target on shares of Carrier Global from $58.00 to $71.00 in a report on Friday, May 1st. The Goldman Sachs Group lifted their price target on shares of Carrier Global from $74.00 to $80.00 in a report on Friday, May 1st. Finally, Citigroup upped their price objective on shares of Carrier Global from $79.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently 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.