Pinnbrook Capital Management LP Purchases Shares of 41,000 Carrier Global Corporation $CARR

Pinnbrook Capital Management LP purchased a new stake in Carrier Global Corporation (NYSE:CARR) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 41,000 shares of the company’s stock, valued at approximately $3,007,000.

Several other institutional investors have also recently modified their holdings of the stock. Johnson Financial Group Inc. purchased a new stake in Carrier Global in the 2nd quarter valued at approximately $25,000. Meeder Asset Management Inc. purchased a new position in Carrier Global during the second quarter worth $26,000. Financial Management Professionals Inc. increased its position in Carrier Global by 142.4% during the second quarter. Financial Management Professionals Inc. now owns 383 shares of the company’s stock worth $28,000 after buying an additional 225 shares in the last quarter. Torren Management LLC acquired a new position in shares of Carrier Global in the fourth quarter worth $25,000. Finally, Burnham & Co LLC acquired a new position in shares of Carrier Global in the second quarter worth $37,000. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently commented on CARR shares. Barclays increased their price objective on Carrier Global from $67.00 to $79.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Wells Fargo & Company boosted their target price on shares of Carrier Global from $58.00 to $71.00 in a research note on Friday, May 1st. Wolfe Research restated an “outperform” rating and issued a $80.00 target price on shares of Carrier Global in a report on Thursday, July 9th. Royal Bank Of Canada raised their price target on shares of Carrier Global from $71.00 to $81.00 and gave the stock an “outperform” rating in a research note on Friday, May 1st. Finally, Morgan Stanley lifted their price target on shares of Carrier Global from $55.00 to $60.00 and gave the stock an “equal weight” rating in a report 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 stock. According to data from MarketBeat, Carrier Global presently has an average rating of “Moderate Buy” and an average target price of $73.67.

Carrier Global Price Performance

CARR stock opened at $60.40 on Friday. Carrier Global Corporation has a 52-week low of $50.24 and a 52-week high of $76.76. The stock’s fifty day simple moving average is $67.37 and its 200-day simple moving average is $64.11. The company has a quick ratio of 0.72, a current ratio of 1.02 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $49.79 billion, a price-to-earnings ratio of 41.94, a price-to-earnings-growth ratio of 2.23 and a beta of 1.31.

Carrier Global (NYSE:CARR) last released its earnings results on Tuesday, July 28th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.82 by $0.04. Carrier Global had a return on equity of 14.68% and a net margin of 5.52%.The firm 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 firm posted $0.92 earnings per share. The business’s quarterly 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. Equities research analysts expect that Carrier Global Corporation will post 2.89 EPS for the current year.

Carrier Global Announces Dividend

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