Tocqueville Asset Management L.P. Makes New Investment in Carrier Global Corporation $CARR

Tocqueville Asset Management L.P. bought a new stake in Carrier Global Corporation (NYSE:CARR) during the second quarter, HoldingsChannel reports. The institutional investor bought 166,479 shares of the company’s stock, valued at approximately $12,211,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of CARR. Cardinal Capital Management Inc. lifted its position in shares of Carrier Global by 7.1% during the 2nd quarter. Cardinal Capital Management Inc. now owns 575,335 shares of the company’s stock valued at $42,201,000 after buying an additional 37,934 shares during the last quarter. California Public Employees Retirement System increased its holdings in Carrier Global by 1.5% in the 1st quarter. California Public Employees Retirement System now owns 1,430,425 shares of the company’s stock worth $80,547,000 after acquiring an additional 21,367 shares during the last quarter. Mandatum Life Insurance Co Ltd increased its holdings in 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 acquiring an additional 29,495 shares during the last quarter. Avity Investment Management Inc. raised its stake in Carrier Global by 33.9% in the 2nd quarter. Avity Investment Management Inc. now owns 194,484 shares of the company’s stock valued at $14,265,000 after acquiring an additional 49,260 shares during the period. Finally, Assenagon Asset Management S.A. boosted 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 worth $8,416,000 after purchasing an additional 84,165 shares during the period. 91.00% of the stock is owned by institutional investors.

Carrier Global Trading Down 0.5%

Shares of Carrier Global stock opened at $61.13 on Thursday. The company’s 50-day moving average price is $67.75 and its 200-day moving average price is $64.13. 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 Corporation has a 12-month low of $50.24 and a 12-month high of $76.76. The company has a market cap of $50.39 billion, a price-to-earnings ratio of 42.45, a PEG ratio of 2.27 and a beta of 1.31.

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

Carrier Global Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CARR. Evercore lifted their target price on shares of Carrier Global from $75.00 to $85.00 in a research note on Friday, May 1st. 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 objective on shares of Carrier Global from $74.00 to $80.00 in a research note on Friday, May 1st. Royal Bank Of Canada boosted their target price on shares of Carrier Global from $71.00 to $81.00 and gave the company an “outperform” rating in a report on Friday, May 1st. Finally, Barclays increased their target price on Carrier Global from $67.00 to $79.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and nine have given 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 target price of $73.67.

Carrier Global 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.