Hsbc Holdings PLC Increases Stock Position in Carrier Global Corporation $CARR

Hsbc Holdings PLC lifted its holdings in shares of Carrier Global Corporation (NYSE:CARR) by 13.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,589,619 shares of the company’s stock after buying an additional 192,493 shares during the period. Hsbc Holdings PLC owned about 0.19% of Carrier Global worth $116,830,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of CARR. Torren Management LLC acquired a new position in Carrier Global during the fourth quarter worth $25,000. Johnson Financial Group Inc. acquired a new position in shares of Carrier Global during the 2nd quarter worth $25,000. Meeder Asset Management Inc. acquired a new stake in shares of Carrier Global in the second quarter valued at about $26,000. Financial Management Professionals Inc. boosted its holdings in Carrier Global by 142.4% during the second quarter. Financial Management Professionals Inc. now owns 383 shares of the company’s stock worth $28,000 after buying an additional 225 shares in the last quarter. Finally, Garton & Associates Financial Advisors LLC acquired a new position in Carrier Global during the fourth quarter worth about $33,000. 91.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Barclays upped their price target on Carrier Global from $67.00 to $79.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Royal Bank Of Canada boosted their price objective on shares of Carrier Global from $71.00 to $81.00 and gave the stock an “outperform” rating in a research report on Friday, May 1st. Citigroup raised their target price on shares of Carrier Global from $79.00 to $80.00 and gave the company a “buy” rating in a report on Monday, July 13th. Zacks Research raised shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 30th. Finally, Robert W. Baird raised their price objective on shares of Carrier Global from $70.00 to $75.00 in a research note on Friday, May 1st. 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’s stock. According to data from MarketBeat.com, Carrier Global currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.67.

Carrier Global Stock Down 2.4%

CARR opened at $58.51 on Wednesday. The firm has a market cap of $48.23 billion, a P/E ratio of 40.63, a PEG ratio of 2.21 and a beta of 1.31. The business’s fifty day simple moving average is $66.89 and its 200 day simple moving average is $64.09. Carrier Global Corporation has a 52 week low of $50.24 and a 52 week high of $76.76. The company has a quick ratio of 0.72, a current ratio of 1.02 and a debt-to-equity ratio of 0.77.

Carrier Global (NYSE:CARR) last released its earnings results on Tuesday, July 28th. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.04. The company 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% on a year-over-year basis. During the same period in the prior year, the firm earned $0.92 EPS. Carrier Global has set its FY 2026 guidance at 2.900-2.900 EPS. As a group, equities research analysts anticipate that Carrier Global Corporation will post 2.89 EPS for the current fiscal year.

Carrier Global Announces Dividend

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

About Carrier Global

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.