Sumitomo Mitsui DS Asset Management Company Ltd Acquires 43,926 Shares of Carrier Global Corporation $CARR

Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Carrier Global Corporation (NYSE:CARR) by 42.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 146,558 shares of the company’s stock after purchasing an additional 43,926 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Carrier Global were worth $8,040,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Bank of New York Mellon Corp bought a new position in shares of Carrier Global during the 2nd quarter worth approximately $590,759,000. Bank of America Corp DE acquired a new stake in shares of Carrier Global during the 2nd quarter worth approximately $572,908,000. Dimensional Fund Advisors LP increased its stake in shares of Carrier Global by 4.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,291,311 shares of the company’s stock valued at $354,188,000 after acquiring an additional 246,723 shares in the last quarter. Legal & General Group Plc bought a new stake in shares of Carrier Global in the 2nd quarter valued at $322,366,000. Finally, Primecap Management Co. CA bought a new stake in shares of Carrier Global in the 2nd quarter valued at $283,585,000. 91.00% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Sanford C. Bernstein dropped their target price on shares of Carrier Global from $78.00 to $64.00 and set a “market perform” rating on the stock in a research report on Wednesday, October 7th. Citigroup raised their price target on shares of Carrier Global from $79.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, July 13th. Wolfe Research reaffirmed an “outperform” rating and issued a $80.00 price target on shares of Carrier Global in a research note on Thursday, July 9th. Weiss Ratings reiterated a “hold (c)” rating on shares of Carrier Global in a report on Friday, October 16th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of Carrier Global from $71.00 to $64.00 and set a “hold” rating on the stock in a research report on Wednesday, September 30th. Eleven research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.43.

Carrier Global Price Performance

Shares of NYSE:CARR opened at $56.42 on Thursday. 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 Corporation has a twelve month low of $50.24 and a twelve month high of $76.76. The stock’s 50 day moving average is $57.15 and its 200-day moving average is $62.84. The firm has a market capitalization of $46.51 billion, a price-to-earnings ratio of 39.18, a PEG ratio of 1.92 and a beta of 1.29.

Carrier Global (NYSE:CARR) last issued its earnings results on Tuesday, July 28th. The company reported $0.86 earnings per share (EPS) 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 company had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.02 billion. During the same period last year, the business earned $0.92 EPS. Carrier Global’s quarterly revenue was up 3.9% compared to the same quarter last year. Carrier Global has set its FY 2026 guidance at 2.900-2.900 EPS. Sell-side analysts forecast that Carrier Global Corporation will post 2.87 EPS for the current fiscal year.

Carrier Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 18th. Shareholders of record on Thursday, October 29th will be issued a dividend of $0.24 per share. The ex-dividend date is Thursday, October 29th. This represents a $0.96 annualized dividend and a yield of 1.7%. Carrier Global’s dividend payout ratio is presently 66.67%.

About Carrier Global

Carrier Global Corporation (NYSE:CARR) is a global provider of intelligent climate and energy solutions. The company develops and manufactures heating, ventilation and air-conditioning (HVAC) systems, refrigeration equipment, building automation technologies and related controls and services for residential, commercial and industrial customers.

Its offerings include air conditioners, heat pumps, furnaces, boilers, chillers, ventilation systems, refrigeration systems and building management solutions.