Canandaigua National Bank & Trust Co. Acquires New Position in Carrier Global Corporation $CARR

Canandaigua National Bank & Trust Co. bought a new position in shares of Carrier Global Corporation (NYSE:CARR) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 53,145 shares of the company’s stock, valued at approximately $3,898,000.

Several other institutional investors and hedge funds also recently bought and sold shares of CARR. State Street Corp increased its holdings in shares of Carrier Global by 1.1% during the 4th quarter. State Street Corp now owns 33,728,829 shares of the company’s stock worth $1,782,231,000 after buying an additional 351,490 shares during the last quarter. Morgan Stanley lifted its holdings in Carrier Global by 1.8% in the fourth quarter. Morgan Stanley now owns 11,757,449 shares of the company’s stock valued at $621,264,000 after acquiring an additional 210,952 shares during the last quarter. Norges Bank purchased a new position in Carrier Global in the fourth quarter worth approximately $380,299,000. Fiera Capital Corp grew its position in Carrier Global by 5.3% in the fourth quarter. Fiera Capital Corp now owns 6,923,485 shares of the company’s stock worth $365,837,000 after acquiring an additional 348,812 shares during the period. Finally, Bank of America Corp DE increased its stake in Carrier Global by 14.4% during the first quarter. Bank of America Corp DE now owns 6,592,682 shares of the company’s stock worth $371,234,000 after acquiring an additional 831,327 shares during the last quarter. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. lifted their target price on Carrier Global from $63.00 to $67.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. Wells Fargo & Company raised their price objective on Carrier Global from $58.00 to $71.00 in a research report on Friday, May 1st. Zacks Research upgraded shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 30th. BNP Paribas Exane began coverage on shares of Carrier Global in a research report on Tuesday, April 14th. They issued a “neutral” rating and a $62.00 target price on the stock. Finally, The Goldman Sachs Group upped their target price on shares of Carrier Global from $74.00 to $80.00 in a research report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $73.67.

Carrier Global Stock Up 4.0%

NYSE:CARR opened at $65.67 on Wednesday. Carrier Global Corporation has a 52 week low of $50.24 and a 52 week high of $76.76. The stock’s fifty day moving average is $68.53 and its two-hundred day moving average is $63.66. The stock has a market capitalization of $54.13 billion, a price-to-earnings ratio of 45.60, a price-to-earnings-growth ratio of 2.45 and a beta of 1.31. 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 issued its quarterly earnings data on Tuesday, July 28th. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.04. The business had revenue of $6.35 billion during the quarter, compared to analysts’ expectations 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 in the previous year, the firm posted $0.92 earnings per share. Carrier Global has set its FY 2026 guidance at 2.900-2.900 EPS. Research analysts anticipate that Carrier Global Corporation will post 2.88 EPS for the current 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 given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Tuesday, July 21st. Carrier Global’s payout ratio is currently 66.67%.

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.