Commerce Bank Makes New Investment in Carrier Global Corporation $CARR

Commerce Bank acquired a new stake in Carrier Global Corporation (NYSE:CARR) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 155,545 shares of the company’s stock, valued at approximately $11,409,000.

A number of other hedge funds also recently made changes to their positions in CARR. Torren Management LLC purchased a new position in shares of Carrier Global in the fourth quarter valued at $25,000. Johnson Financial Group Inc. acquired a new stake in Carrier Global during the 2nd quarter valued at $25,000. Meeder Asset Management Inc. purchased a new stake in Carrier Global during the 2nd quarter worth $26,000. Financial Management Professionals Inc. increased its stake in Carrier Global by 142.4% during the 2nd quarter. Financial Management Professionals Inc. now owns 383 shares of the company’s stock worth $28,000 after buying an additional 225 shares during the period. Finally, Garton & Associates Financial Advisors LLC acquired a new position in Carrier Global in the 4th quarter worth $33,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. The Goldman Sachs Group upped their price objective on shares of Carrier Global from $74.00 to $80.00 in a research report on Friday, May 1st. Morgan Stanley boosted 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. Royal Bank Of Canada increased their price target on Carrier Global from $71.00 to $81.00 and gave the company an “outperform” rating in a report on Friday, May 1st. Argus raised their price objective on Carrier Global from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Carrier Global in a report on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $73.67.

Carrier Global Stock Performance

Shares of CARR stock opened at $60.40 on Monday. The stock has a market capitalization of $49.79 billion, a price-to-earnings ratio of 41.94, a PEG ratio of 2.23 and a beta of 1.31. Carrier Global Corporation has a one year low of $50.24 and a one year high of $76.76. The company’s 50-day simple moving average is $67.37 and its 200-day simple moving average is $64.14. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.72 and a current ratio of 1.02.

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

Carrier Global Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Tuesday, July 21st were issued 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 payout ratio is 66.67%.

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.