Carrier Global Corporation $CARR Stock: State of Alaska Department of Revenue Raises Holdings

State of Alaska Department of Revenue grew its position in Carrier Global Corporation (NYSE:CARR) by 45.6% in the third quarter, HoldingsChannel reports. The fund owned 111,358 shares of the company’s stock after acquiring an additional 34,859 shares during the quarter. State of Alaska Department of Revenue’s holdings in Carrier Global were worth $6,109,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Bank of New York Mellon Corp acquired a new stake in shares of Carrier Global during the 2nd quarter valued at about $590,759,000. Bank of America Corp DE acquired a new position in Carrier Global in the 2nd quarter worth about $572,908,000. Dimensional Fund Advisors LP raised its holdings in Carrier Global by 4.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,291,311 shares of the company’s stock worth $354,188,000 after purchasing an additional 246,723 shares during the period. Legal & General Group Plc purchased a new position in Carrier Global during the second quarter worth approximately $322,366,000. Finally, Primecap Management Co. CA purchased a new position in shares of Carrier Global during the 2nd quarter valued at approximately $283,585,000. 91.00% of the stock is owned by hedge funds and other institutional investors.

Carrier Global Price Performance

Shares of Carrier Global stock traded down $0.06 on Friday, hitting $54.90. 6,567,312 shares of the company were exchanged, compared to its average volume of 6,263,893. The stock has a market capitalization of $45.26 billion, a price-to-earnings ratio of 38.12, a price-to-earnings-growth ratio of 1.88 and a beta of 1.29. The company has a 50-day moving average price of $57.60 and a 200 day moving average price of $62.79. Carrier Global Corporation has a 1-year low of $50.24 and a 1-year 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 posted its quarterly 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. Carrier Global had a return on equity of 14.68% and a net margin of 5.52%. The business had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.02 billion. During the same period in the prior year, the business earned $0.92 earnings per share. The business’s 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. As a group, sell-side analysts predict that Carrier Global Corporation will post 2.87 earnings per share for the current fiscal year.

Carrier Global Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts recently weighed in on CARR shares. The Goldman Sachs Group lowered shares of Carrier Global from a “buy” rating to a “neutral” rating and decreased their price target for the company from $74.00 to $61.00 in a research note on Wednesday. Wells Fargo & Company started coverage on Carrier Global in a report on Thursday, September 24th. They issued an “overweight” rating and a $67.00 price objective on the stock. JPMorgan Chase & Co. assumed coverage on shares of Carrier Global in a research note on Friday, October 9th. They set a “neutral” rating and a $61.00 target price on the stock. Citigroup upped their target price 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. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Carrier Global in a research report on Monday, July 20th. Eleven investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, Carrier Global presently has an average rating of “Moderate Buy” and an average target price of $70.43.

Carrier Global Company Profile

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, heat pumps, building controls, and related equipment for residential, commercial and industrial customers. Its offerings are designed to support temperature control, indoor air quality, energy efficiency and building performance.

Carrier also provides refrigeration products and services for food retail, transportation and other applications.