Causeway Capital Management LLC Invests $87.55 Million in Carrier Global Corporation $CARR

Causeway Capital Management LLC purchased a new stake in Carrier Global Corporation (NYSE:CARR) in the third quarter, HoldingsChannel reports. The firm purchased 1,466,481 shares of the company’s stock, valued at approximately $87,549,000. Carrier Global makes up approximately 1.2% of Causeway Capital Management LLC’s holdings, making the stock its 15th largest position.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Carrier Global by 0.5% in the 2nd quarter. Vanguard Group Inc. now owns 93,373,143 shares of the company’s stock valued at $6,833,980,000 after acquiring an additional 450,594 shares in the last quarter. Capital International Investors raised its stake in Carrier Global by 6.7% in the third quarter. Capital International Investors now owns 57,982,302 shares of the company’s stock valued at $3,461,142,000 after purchasing an additional 3,630,524 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Carrier Global by 23.8% during the second quarter. JPMorgan Chase & Co. now owns 38,536,301 shares of the company’s stock worth $2,820,485,000 after purchasing an additional 7,409,432 shares during the period. Fisher Asset Management LLC grew its stake in Carrier Global by 0.6% during the third quarter. Fisher Asset Management LLC now owns 15,139,140 shares of the company’s stock worth $903,807,000 after buying an additional 90,585 shares in the last quarter. Finally, Brown Advisory Inc. increased its holdings in Carrier Global by 6.3% in the 2nd quarter. Brown Advisory Inc. now owns 10,281,880 shares of the company’s stock valued at $752,533,000 after buying an additional 607,901 shares during the period. Institutional investors own 91.00% of the company’s stock.

Wall Street Analysts Forecast Growth

CARR has been the topic of several analyst reports. Mizuho reduced their price target on shares of Carrier Global from $75.00 to $67.00 and set an “outperform” rating on the stock in a research report on Monday, January 5th. UBS Group cut their target price on Carrier Global from $73.00 to $70.00 and set a “buy” rating for the company in a research note on Monday, January 5th. JPMorgan Chase & Co. raised their target price on Carrier Global from $60.00 to $63.00 and gave the company a “neutral” rating in a report on Friday, January 16th. Robert W. Baird lifted their price target on Carrier Global from $66.00 to $72.00 and gave the company an “outperform” rating in a research note on Friday, February 6th. Finally, Royal Bank Of Canada boosted their price target on Carrier Global from $70.00 to $74.00 and gave the stock an “outperform” rating in a report on Friday, February 6th. Twelve analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $70.82.

Carrier Global Stock Up 0.6%

NYSE:CARR opened at $58.73 on Tuesday. Carrier Global Corporation has a one year low of $50.24 and a one year high of $81.09. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.20 and a quick ratio of 0.85. The company has a market cap of $49.06 billion, a PE ratio of 34.34, a P/E/G ratio of 2.34 and a beta of 1.32. The firm’s 50 day simple moving average is $59.61 and its 200 day simple moving average is $58.40.

Carrier Global (NYSE:CARR) last announced its quarterly earnings results on Thursday, February 5th. The company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.02). The business had revenue of $4.84 billion during the quarter, compared to analyst estimates of $5.05 billion. Carrier Global had a net margin of 6.82% and a return on equity of 15.30%. The company’s revenue was down 6.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.54 earnings per share. Carrier Global has set its FY 2026 guidance at 2.800-2.800 EPS. On average, research analysts anticipate that Carrier Global Corporation will post 2.99 earnings per share for the current year.

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.