Connor Clark & Lunn Investment Management Ltd. Buys New Position in Carrier Global Corporation $CARR

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Carrier Global Corporation (NYSE:CARR) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 193,332 shares of the company’s stock, valued at approximately $14,181,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CARR. Torren Management LLC acquired a new position in shares of Carrier Global during the fourth quarter worth $25,000. Johnson Financial Group Inc. acquired a new stake in Carrier Global during the 2nd quarter valued at $25,000. Meeder Asset Management Inc. acquired a new stake in Carrier Global during the 2nd quarter valued at $26,000. Financial Management Professionals Inc. grew its holdings in Carrier Global by 142.4% during the 2nd quarter. Financial Management Professionals Inc. now owns 383 shares of the company’s stock valued at $28,000 after purchasing an additional 225 shares in the last quarter. Finally, Garton & Associates Financial Advisors LLC purchased a new stake in Carrier Global during the 4th quarter worth $33,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Price Performance

Shares of NYSE CARR opened at $58.51 on Wednesday. Carrier Global Corporation has a twelve month low of $50.24 and a twelve month high of $76.76. The company has a current ratio of 1.02, a quick ratio of 0.72 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $48.23 billion, a price-to-earnings ratio of 40.63, a price-to-earnings-growth ratio of 2.21 and a beta of 1.31. The business has a 50 day simple moving average of $66.89 and a 200-day simple moving average of $64.09.

Carrier Global (NYSE:CARR) last released its quarterly earnings data on Tuesday, July 28th. The company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.04. Carrier Global had a net margin of 5.52% and a return on equity of 14.68%. The firm had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.02 billion. During the same quarter in the previous year, the company posted $0.92 earnings per share. The firm’s revenue was up 3.9% on a year-over-year basis. Carrier Global has set its FY 2026 guidance at 2.900-2.900 EPS. As a group, equities research analysts expect that Carrier Global Corporation will post 2.89 earnings per share for the current year.

Carrier Global Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Tuesday, July 21st were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Tuesday, July 21st. Carrier Global’s dividend payout ratio (DPR) is presently 66.67%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CARR. Evercore upped their price objective on shares of Carrier Global from $75.00 to $85.00 in a research report on Friday, May 1st. The Goldman Sachs Group boosted their price target on Carrier Global from $74.00 to $80.00 in a research note on Friday, May 1st. Weiss Ratings restated a “hold (c)” rating on shares of Carrier Global in a report on Monday, July 20th. Citigroup upped their target price on Carrier Global from $79.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, July 13th. Finally, Zacks Research upgraded Carrier Global from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, Carrier Global has an average rating of “Moderate Buy” and an average price target of $73.67.

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.