The Manufacturers Life Insurance Company Invests $83.98 Million in Carrier Global Corporation $CARR

The Manufacturers Life Insurance Company purchased a new position in Carrier Global Corporation (NYSE:CARR) in the second quarter, Holdings Channel reports. The fund purchased 1,144,913 shares of the company’s stock, valued at approximately $83,979,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Torren Management LLC bought a new position in Carrier Global during the 4th quarter worth approximately $25,000. Johnson Financial Group Inc. acquired a new position in shares of Carrier Global in 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 approximately $26,000. Financial Management Professionals Inc. raised its position in shares of Carrier Global by 142.4% during 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 bought a new position in Carrier Global during the fourth quarter worth $33,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Price Performance

Shares of NYSE:CARR opened at $58.51 on Wednesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.02 and a quick ratio of 0.72. The stock has a market cap of $48.23 billion, a price-to-earnings ratio of 40.63, a PEG ratio of 2.21 and a beta of 1.31. The stock’s 50 day moving average price is $66.89 and its 200 day moving average price is $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 posted its quarterly earnings results on Tuesday, July 28th. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.04. The firm had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.02 billion. Carrier Global had a net margin of 5.52% and a return on equity of 14.68%. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.92 earnings per share. Carrier Global has set its FY 2026 guidance at 2.900-2.900 EPS. Equities research analysts anticipate that Carrier Global Corporation will post 2.89 earnings per share for the current fiscal year.

Carrier Global Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Tuesday, July 21st were given a $0.24 dividend. 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 dividend payout ratio (DPR) is 66.67%.

Analyst Ratings Changes

A number of equities analysts have commented on CARR shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Carrier Global in a report on Monday, July 20th. 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. Wells Fargo & Company increased their price objective on shares of Carrier Global from $58.00 to $71.00 in a research note on Friday, May 1st. Mizuho raised their target price on shares of Carrier Global from $67.00 to $75.00 in a report on Friday, May 1st. Finally, Argus raised their target price on shares of Carrier Global from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, Carrier Global currently has an average rating of “Moderate Buy” and an average price target of $73.67.

Carrier Global Company Profile

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.