Meeder Advisory Services Inc. Invests $1.80 Million in Carrier Global Corporation $CARR

Meeder Advisory Services Inc. purchased a new position in shares of Carrier Global Corporation (NYSE:CARR) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 24,511 shares of the company’s stock, valued at approximately $1,798,000.

Several other institutional investors have also added to or reduced their stakes in CARR. State Street Corp increased its position in 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 period. Morgan Stanley boosted its position in shares of 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 period. Bank of New York Mellon Corp acquired a new position in shares of Carrier Global in the second quarter valued at about $590,759,000. Norges Bank acquired a new position in shares of Carrier Global in the fourth quarter valued at about $380,299,000. Finally, Fiera Capital Corp increased its position in Carrier Global by 5.3% during 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. 91.00% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CARR has been the subject of several analyst reports. Robert W. Baird lifted their price objective on shares of Carrier Global from $70.00 to $75.00 in a research note on Friday, May 1st. Wells Fargo & Company increased their target price on shares of Carrier Global from $58.00 to $71.00 in a research report on Friday, May 1st. Argus raised their target price 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. The Goldman Sachs Group lifted their price target on shares of Carrier Global from $74.00 to $80.00 in a research report on Friday, May 1st. Finally, Morgan Stanley boosted their price target on Carrier Global from $55.00 to $60.00 and gave the company an “equal weight” rating in a research note on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, Carrier Global currently has a consensus rating of “Moderate Buy” and an average price target of $73.67.

Carrier Global Stock Down 1.9%

CARR stock opened at $61.38 on Wednesday. The company has a market cap of $50.59 billion, a PE ratio of 42.62, a price-to-earnings-growth ratio of 2.32 and a beta of 1.31. The business has a 50-day simple moving average of $67.89 and a 200 day simple moving average of $64.12. Carrier Global Corporation has a 52 week low of $50.24 and a 52 week 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 data on Tuesday, July 28th. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate 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 net margin of 5.52% and a return on equity of 14.68%. Carrier Global’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.92 earnings per share. Carrier Global has set its FY 2026 guidance at 2.900-2.900 EPS. Sell-side analysts anticipate that Carrier Global Corporation will post 2.89 EPS for the current fiscal year.

Carrier Global Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Tuesday, July 21st were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Tuesday, July 21st. Carrier Global’s dividend 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.