Geode Capital Management LLC Sells 36,910 Shares of Carrier Global Corporation $CARR

Geode Capital Management LLC lowered its position in shares of Carrier Global Corporation (NYSE:CARR) by 0.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,314,406 shares of the company’s stock after selling 36,910 shares during the period. Geode Capital Management LLC’s holdings in Carrier Global were worth $910,722,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. King Luther Capital Management Corp bought a new stake in shares of Carrier Global in the fourth quarter valued at approximately $682,000. M3 Wealth Management LLC bought a new position in Carrier Global in the 4th quarter valued at approximately $239,000. Malaga Cove Capital LLC grew its holdings in Carrier Global by 15.9% during the 4th quarter. Malaga Cove Capital LLC now owns 8,054 shares of the company’s stock worth $426,000 after acquiring an additional 1,106 shares during the last quarter. Allstate Corp grew its holdings in Carrier Global by 103.7% during the 4th quarter. Allstate Corp now owns 54,654 shares of the company’s stock worth $2,888,000 after acquiring an additional 27,823 shares during the last quarter. Finally, Choate Investment Advisors grew its holdings in Carrier Global by 16.7% during the 4th quarter. Choate Investment Advisors now owns 16,742 shares of the company’s stock worth $885,000 after acquiring an additional 2,401 shares during the last quarter. 91.00% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. BNP Paribas Exane initiated coverage on shares of Carrier Global in a report on Tuesday, April 14th. They set a “neutral” rating and a $62.00 target price on the stock. Mizuho lifted their target price on Carrier Global from $67.00 to $75.00 in a report on Friday, May 1st. Evercore lifted their target price on Carrier Global from $75.00 to $85.00 in a report on Friday, May 1st. Rothschild & Co Redburn lifted their target price on Carrier Global from $61.00 to $73.00 and gave the stock a “neutral” rating in a report on Tuesday, May 5th. Finally, Wolfe Research lifted their target price on Carrier Global from $75.00 to $76.00 and gave the stock an “outperform” rating in a report on Wednesday, April 8th. Twelve analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $74.04.

Carrier Global Price Performance

Carrier Global stock opened at $63.92 on Friday. The stock has a market capitalization of $53.09 billion, a price-to-earnings ratio of 42.05, a PEG ratio of 2.54 and a beta of 1.38. Carrier Global Corporation has a 52-week low of $50.24 and a 52-week high of $81.09. The stock’s 50 day moving average price is $61.48 and its two-hundred day moving average price is $58.64. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.75 and a current ratio of 1.05.

Carrier Global (NYSE:CARR) last posted its quarterly earnings results on Thursday, April 30th. The company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $5.01 billion. During the same period in the prior year, the business earned $0.65 EPS. The company’s revenue for the quarter 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. On average, equities analysts predict that Carrier Global Corporation will post 2.8 earnings per share for the current year.

Carrier Global Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Monday, May 4th were issued a dividend of $0.24 per share. The ex-dividend date was Monday, May 4th. This represents a $0.96 annualized dividend and a dividend yield of 1.5%. Carrier Global’s dividend payout ratio is currently 63.16%.

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.