Pinebridge Investments LLC Makes New $6.36 Million Investment in Carrier Global Corporation $CARR

Pinebridge Investments LLC acquired a new position in Carrier Global Corporation (NYSE:CARR) during the fourth quarter, HoldingsChannel reports. The institutional investor acquired 120,358 shares of the company’s stock, valued at approximately $6,360,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Advisory Alpha LLC raised its holdings in Carrier Global by 2.9% in the fourth quarter. Advisory Alpha LLC now owns 6,034 shares of the company’s stock worth $319,000 after buying an additional 171 shares during the last quarter. Advisor OS LLC raised its holdings in Carrier Global by 0.8% in the fourth quarter. Advisor OS LLC now owns 21,477 shares of the company’s stock worth $1,135,000 after buying an additional 178 shares during the last quarter. Ironwood Investment Counsel LLC raised its holdings in Carrier Global by 4.6% in the third quarter. Ironwood Investment Counsel LLC now owns 4,090 shares of the company’s stock worth $244,000 after buying an additional 181 shares during the last quarter. Rossmore Private Capital raised its holdings in Carrier Global by 1.5% in the fourth quarter. Rossmore Private Capital now owns 12,944 shares of the company’s stock worth $684,000 after buying an additional 187 shares during the last quarter. Finally, Code Waechter LLC raised its holdings in Carrier Global by 5.0% in the fourth quarter. Code Waechter LLC now owns 3,983 shares of the company’s stock worth $210,000 after buying an additional 189 shares during the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on CARR shares. Weiss Ratings raised shares of Carrier Global from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, April 22nd. CICC Research decreased their target price on shares of Carrier Global from $76.85 to $69.78 and set an “outperform” rating for the company in a report on Wednesday, February 11th. Rothschild & Co Redburn lifted their target price on shares of Carrier Global from $61.00 to $73.00 and gave the stock a “neutral” rating in a report on Tuesday, May 5th. Citigroup lifted 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, Mizuho lifted their target price on shares of Carrier Global from $67.00 to $75.00 in a report on Friday, May 1st. Twelve investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, Carrier Global has a consensus rating of “Moderate Buy” and a consensus target price of $74.04.

Carrier Global Stock Performance

Shares of NYSE CARR opened at $67.18 on Monday. The firm has a 50 day moving average of $62.30 and a 200 day moving average of $59.07. The company has a current ratio of 1.05, a quick ratio of 0.75 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $55.79 billion, a price-to-earnings ratio of 44.19, a price-to-earnings-growth ratio of 2.69 and a beta of 1.34. Carrier Global Corporation has a 12-month low of $50.24 and a 12-month high of $81.09.

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

Carrier Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, July 21st will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Tuesday, July 21st. Carrier Global’s dividend payout ratio is presently 63.16%.

Carrier Global 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.