DAVENPORT & Co LLC Buys 882,098 Shares of Carrier Global Corporation $CARR

DAVENPORT & Co LLC increased its stake in Carrier Global Corporation (NYSE:CARR) by 851.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 985,720 shares of the company’s stock after purchasing an additional 882,098 shares during the quarter. DAVENPORT & Co LLC’s holdings in Carrier Global were worth $52,347,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of CARR. Brighton Jones LLC grew its holdings in shares of Carrier Global by 30.3% during the fourth quarter. Brighton Jones LLC now owns 7,958 shares of the company’s stock worth $543,000 after buying an additional 1,850 shares in the last quarter. AQR Capital Management LLC lifted its stake in Carrier Global by 51.5% in the 1st quarter. AQR Capital Management LLC now owns 68,225 shares of the company’s stock valued at $4,236,000 after acquiring an additional 23,200 shares in the last quarter. United Bank boosted its position in Carrier Global by 41.2% during the 2nd quarter. United Bank now owns 16,991 shares of the company’s stock worth $1,244,000 after acquiring an additional 4,956 shares during the last quarter. Schnieders Capital Management LLC. boosted its position in Carrier Global by 33.7% during the 2nd quarter. Schnieders Capital Management LLC. now owns 16,967 shares of the company’s stock worth $1,242,000 after acquiring an additional 4,277 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of Carrier Global by 58.7% during the 2nd quarter. Franklin Resources Inc. now owns 353,286 shares of the company’s stock worth $25,857,000 after acquiring an additional 130,657 shares in the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Price Performance

NYSE:CARR opened at $58.70 on Wednesday. The stock has a market capitalization of $49.04 billion, a PE ratio of 34.33, a P/E/G ratio of 2.37 and a beta of 1.32. Carrier Global Corporation has a 1-year low of $50.24 and a 1-year high of $81.09. The firm has a fifty day simple moving average of $60.43 and a 200 day simple moving average of $57.80. The company has a current ratio of 1.20, a quick ratio of 0.85 and a debt-to-equity ratio of 0.80.

Carrier Global (NYSE:CARR) last posted its quarterly earnings results on Thursday, February 5th. The company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.02). Carrier Global had a return on equity of 15.30% and a net margin of 6.82%.The firm had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $5.05 billion. During the same period last year, the company posted $0.54 earnings per share. The business’s revenue was down 6.0% compared to the same quarter last year. Carrier Global has set its FY 2026 guidance at 2.800-2.800 EPS. On average, research analysts expect that Carrier Global Corporation will post 2.99 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Robert W. Baird boosted their price objective on shares of Carrier Global from $66.00 to $72.00 and gave the stock an “outperform” rating in a research report on Friday, February 6th. Rothschild & Co Redburn decreased their target price on shares of Carrier Global from $67.00 to $61.00 and set a “neutral” rating for the company in a research report on Wednesday, January 21st. Wells Fargo & Company lifted their price target on shares of Carrier Global from $59.00 to $65.00 and gave the company an “equal weight” rating in a research note on Friday, February 6th. CICC Research reduced their price objective on shares of Carrier Global from $76.85 to $69.78 and set an “outperform” rating for the company in a research note on Wednesday, February 11th. Finally, UBS Group decreased their price objective on Carrier Global from $73.00 to $70.00 and set a “buy” rating for the company in a report on Monday, January 5th. Twelve equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Carrier Global currently has an average rating of “Moderate Buy” and an average price target of $70.82.

About Carrier Global

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.