Cibc World Market Inc. Makes New Investment in Carrier Global Corporation $CARR

Cibc World Market Inc. purchased a new stake in shares of Carrier Global Corporation (NYSE:CARR) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 113,395 shares of the company’s stock, valued at approximately $8,318,000.

A number of other large investors have also recently modified their holdings of CARR. Brighton Jones LLC grew its stake in Carrier Global by 30.3% in the fourth quarter. Brighton Jones LLC now owns 7,958 shares of the company’s stock worth $543,000 after purchasing an additional 1,850 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Carrier Global by 51.5% in the 1st quarter. AQR Capital Management LLC now owns 68,225 shares of the company’s stock worth $4,236,000 after buying an additional 23,200 shares during the period. United Bank lifted its holdings in shares of Carrier Global by 41.2% in the 2nd quarter. United Bank now owns 16,991 shares of the company’s stock worth $1,244,000 after buying an additional 4,956 shares during the period. Schnieders Capital Management LLC. grew its position in shares of Carrier Global by 33.7% during the 2nd quarter. Schnieders Capital Management LLC. now owns 16,967 shares of the company’s stock worth $1,242,000 after buying an additional 4,277 shares in the last quarter. Finally, Guggenheim Capital LLC grew its position in shares of Carrier Global by 6.0% during the 2nd quarter. Guggenheim Capital LLC now owns 9,903 shares of the company’s stock worth $725,000 after buying an additional 561 shares in the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Trading Down 2.4%

Shares of NYSE:CARR opened at $58.51 on Wednesday. The business’s 50-day moving average is $66.89 and its 200 day moving average is $64.09. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.02 and a quick ratio of 0.72. Carrier Global Corporation has a 1 year low of $50.24 and a 1 year high of $76.76. The firm has a market capitalization of $48.23 billion, a P/E ratio of 40.63, a P/E/G ratio of 2.21 and a beta of 1.31.

Carrier Global (NYSE:CARR) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.04. Carrier Global had a return on equity of 14.68% and a net margin of 5.52%.The business had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.02 billion. During the same quarter in the previous year, the firm earned $0.92 earnings per share. The company’s 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. On average, research analysts predict that Carrier Global Corporation will post 2.89 earnings per share for the current fiscal year.

Carrier Global Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Tuesday, July 21st were paid a $0.24 dividend. The ex-dividend date was Tuesday, July 21st. This represents a $0.96 dividend on an annualized basis and a yield of 1.6%. Carrier Global’s dividend payout ratio (DPR) is 66.67%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. The Goldman Sachs Group raised their price target on Carrier Global from $74.00 to $80.00 in a research note on Friday, May 1st. Evercore increased their target price on shares of Carrier Global from $75.00 to $85.00 in a report on Friday, May 1st. Argus raised their target price on shares of Carrier Global from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Morgan Stanley boosted their price target on shares of Carrier Global from $55.00 to $60.00 and gave the company an “equal weight” rating in a report on Thursday, May 28th. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $78.00 price target on shares of Carrier Global in a research report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, Carrier Global 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.