Prevatt Capital Ltd Increases Stock Holdings in Carrier Global Corporation $CARR

Prevatt Capital Ltd lifted its holdings in Carrier Global Corporation (NYSE:CARR) by 31.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 395,000 shares of the company’s stock after purchasing an additional 95,000 shares during the quarter. Carrier Global accounts for approximately 6.0% of Prevatt Capital Ltd’s holdings, making the stock its 10th largest position. Prevatt Capital Ltd’s holdings in Carrier Global were worth $22,242,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Capital International Investors increased its stake in Carrier Global by 6.7% during the 3rd quarter. Capital International Investors now owns 57,982,302 shares of the company’s stock valued at $3,461,142,000 after buying an additional 3,630,524 shares during the period. State Street Corp increased its stake 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 during the period. Dodge & Cox raised its holdings in Carrier Global by 5.1% during the third quarter. Dodge & Cox now owns 13,427,697 shares of the company’s stock worth $801,634,000 after purchasing an additional 651,648 shares in the last quarter. Morgan Stanley lifted its position 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 purchasing an additional 210,952 shares during the period. Finally, Norges Bank acquired a new position in shares of Carrier Global during the 4th quarter valued at $380,299,000. 91.00% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CARR. JPMorgan Chase & Co. upped their price objective on Carrier Global from $63.00 to $67.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Argus upped their price target on shares of Carrier Global from $72.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. BNP Paribas Exane initiated coverage on shares of Carrier Global in a research note on Tuesday, April 14th. They issued a “neutral” rating and a $62.00 price objective on the stock. Citigroup boosted their target price on shares of Carrier Global from $72.00 to $79.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Finally, Weiss Ratings upgraded shares of Carrier Global from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, April 22nd. Twelve investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $73.25.

Carrier Global Price Performance

NYSE CARR opened at $69.97 on Friday. The company has a current ratio of 1.05, a quick ratio of 0.75 and a debt-to-equity ratio of 0.76. Carrier Global Corporation has a 1 year low of $50.24 and a 1 year high of $81.09. The company has a market cap of $58.12 billion, a PE ratio of 46.03, a PEG ratio of 2.89 and a beta of 1.31. The stock’s 50-day moving average price is $67.17 and its two-hundred day moving average price is $61.49.

Carrier Global (NYSE:CARR) last announced its earnings results on Thursday, April 30th. The company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.51 by $0.06. The company had revenue of $5.34 billion during the quarter, compared to analysts’ expectations of $5.01 billion. Carrier Global had a net margin of 5.99% and a return on equity of 14.81%. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period last year, the company posted $0.65 earnings per share. Carrier Global has set its FY 2026 guidance at 2.800-2.800 EPS. On average, analysts predict that Carrier Global Corporation will post 2.78 EPS for the current year.

Carrier Global Announces Dividend

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 paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, July 21st. Carrier Global’s payout ratio is 63.16%.

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.