Royal Bank of Canada Reduces Stake in Carrier Global Corporation $CARR

Royal Bank of Canada reduced its holdings in Carrier Global Corporation (NYSE:CARR) by 0.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,583,017 shares of the company’s stock after selling 14,893 shares during the quarter. Royal Bank of Canada’s holdings in Carrier Global were worth $145,451,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. State Street Corp raised its holdings in shares of Carrier Global by 1.1% during the fourth quarter. State Street Corp now owns 33,728,829 shares of the company’s stock valued at $1,782,231,000 after acquiring an additional 351,490 shares in the last quarter. Morgan Stanley lifted its stake in Carrier Global by 1.8% in the fourth quarter. Morgan Stanley now owns 11,757,449 shares of the company’s stock worth $621,264,000 after acquiring an additional 210,952 shares during the period. Norges Bank bought a new stake in Carrier Global in the fourth quarter valued at $380,299,000. Fiera Capital Corp boosted its holdings in Carrier Global by 5.3% in the fourth quarter. Fiera Capital Corp now owns 6,923,485 shares of the company’s stock valued at $365,837,000 after acquiring an additional 348,812 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Carrier Global by 4.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,291,311 shares of the company’s stock valued at $354,188,000 after purchasing an additional 246,723 shares during the period. 91.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Royal Bank Of Canada upped their price objective on shares of Carrier Global from $71.00 to $81.00 and gave the stock an “outperform” rating in a report on Friday, May 1st. 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 research report on Thursday, May 28th. Mizuho increased their price target on shares of Carrier Global from $67.00 to $75.00 in a research note on Friday, May 1st. Argus raised their price objective on shares of Carrier Global from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Finally, Zacks Research raised Carrier Global from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 7th. Twelve analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $73.67.

Carrier Global Stock Up 2.4%

Shares of NYSE:CARR opened at $61.36 on Friday. Carrier Global Corporation has a 12-month low of $50.24 and a 12-month high of $76.76. The stock has a market capitalization of $50.97 billion, a price-to-earnings ratio of 42.61, a PEG ratio of 2.32 and a beta of 1.31. The stock has a fifty day simple moving average of $68.54 and a two-hundred day simple moving average of $63.49. The company has a current ratio of 1.02, a quick ratio of 0.75 and a debt-to-equity ratio of 0.77.

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, beating the consensus estimate of $0.82 by $0.04. The firm had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.02 billion. Carrier Global had a return on equity of 14.68% and a net margin of 5.52%.The company’s revenue was up 3.9% on a year-over-year basis. During the same period last year, the company earned $0.92 earnings per share. Carrier Global has set its FY 2026 guidance at 2.900-2.900 EPS. On average, research analysts anticipate that Carrier Global Corporation will post 2.88 earnings per share for the current fiscal year.

Carrier Global Dividend Announcement

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

Carrier Global Company 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.