Saudi Central Bank Grows Holdings in Carrier Global Corporation $CARR

Saudi Central Bank raised its holdings in shares of Carrier Global Corporation (NYSE:CARR) by 88.1% in the 2nd quarter, Holdings Channel reports. The firm owned 52,632 shares of the company’s stock after purchasing an additional 24,654 shares during the quarter. Saudi Central Bank’s holdings in Carrier Global were worth $3,861,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Van Hulzen Asset Management LLC purchased a new position in Carrier Global during the 2nd quarter worth $1,992,000. Cardinal Capital Management Inc. lifted its holdings in shares of Carrier Global by 7.1% in the 2nd quarter. Cardinal Capital Management Inc. now owns 575,335 shares of the company’s stock worth $42,201,000 after buying an additional 37,934 shares during the period. California Public Employees Retirement System grew its position in shares of Carrier Global by 1.5% during the 1st quarter. California Public Employees Retirement System now owns 1,430,425 shares of the company’s stock worth $80,547,000 after buying an additional 21,367 shares in the last quarter. Avity Investment Management Inc. grew its position in shares of Carrier Global by 33.9% during the 2nd quarter. Avity Investment Management Inc. now owns 194,484 shares of the company’s stock worth $14,265,000 after buying an additional 49,260 shares in the last quarter. Finally, Mandatum Life Insurance Co Ltd increased its stake in shares of Carrier Global by 36.1% during the first quarter. Mandatum Life Insurance Co Ltd now owns 111,157 shares of the company’s stock valued at $6,259,000 after buying an additional 29,495 shares during the period. 91.00% of the stock is currently owned by institutional investors.

Carrier Global Stock Down 0.0%

NYSE:CARR opened at $59.69 on Monday. Carrier Global Corporation has a fifty-two week low of $50.24 and a fifty-two week high of $76.76. The stock has a market capitalization of $49.20 billion, a P/E ratio of 41.45, a P/E/G ratio of 2.30 and a beta of 1.30. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.72 and a current ratio of 1.02. The company’s 50-day simple moving average is $64.67 and its 200-day simple moving average is $63.71.

Carrier Global (NYSE:CARR) last posted its quarterly earnings data on Tuesday, July 28th. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.82 by $0.04. The firm had revenue of $6.35 billion during 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%. Carrier Global’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.92 EPS. Carrier Global has set its FY 2026 guidance at 2.900-2.900 EPS. On average, equities analysts anticipate that Carrier Global Corporation will post 2.87 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on CARR shares. Morgan Stanley lifted their price objective on Carrier Global from $55.00 to $60.00 and gave the company an “equal weight” rating in a report on Thursday, May 28th. Zacks Research raised shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 30th. JPMorgan Chase & Co. boosted their price target on shares of Carrier Global from $63.00 to $67.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. 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. Finally, Wolfe Research reiterated an “outperform” rating and set a $80.00 price objective on shares of Carrier Global in a research note on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus 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.