Letson Investment Management Inc. Decreases Position in Carrier Global Corporation $CARR

Letson Investment Management Inc. cut its holdings in Carrier Global Corporation (NYSE:CARR) by 17.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 82,650 shares of the company’s stock after selling 17,074 shares during the period. Carrier Global makes up 1.8% of Letson Investment Management Inc.’s portfolio, making the stock its 16th largest position. Letson Investment Management Inc.’s holdings in Carrier Global were worth $4,654,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. CHICAGO TRUST Co NA grew its stake in shares of Carrier Global by 294.2% during the first quarter. CHICAGO TRUST Co NA now owns 16,018 shares of the company’s stock valued at $902,000 after buying an additional 11,955 shares during the last quarter. Deprince Race & Zollo Inc. lifted its stake in shares of Carrier Global by 9.1% in the 1st quarter. Deprince Race & Zollo Inc. now owns 572,588 shares of the company’s stock valued at $32,242,000 after acquiring an additional 47,784 shares during the last quarter. Financial Life Planners bought a new stake in shares of Carrier Global in the 1st quarter valued at about $152,000. IFM Investors Pty Ltd lifted its stake in shares of Carrier Global by 1.7% in the 1st quarter. IFM Investors Pty Ltd now owns 178,127 shares of the company’s stock valued at $10,030,000 after acquiring an additional 3,052 shares during the last quarter. Finally, Rexford Capital Inc. boosted its holdings in Carrier Global by 1.6% during the 1st quarter. Rexford Capital Inc. now owns 12,676 shares of the company’s stock valued at $714,000 after acquiring an additional 203 shares during the period. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CARR. Zacks Research upgraded Carrier Global from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 7th. Morgan Stanley boosted their price objective on Carrier Global from $55.00 to $60.00 and gave the company an “equal weight” rating in a research report on Thursday, May 28th. Robert W. Baird increased their price objective on Carrier Global from $70.00 to $75.00 in a research note on Friday, May 1st. Rothschild & Co Redburn raised 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. Finally, Wells Fargo & Company raised their target price on shares of Carrier Global from $58.00 to $71.00 in a report on Friday, May 1st. Twelve research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $73.25.

Carrier Global Stock Down 1.6%

NYSE CARR opened at $72.21 on Thursday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.05 and a quick ratio of 0.75. The stock has a market capitalization of $59.98 billion, a PE ratio of 47.51, a PEG ratio of 2.94 and a beta of 1.31. Carrier Global Corporation has a 1 year low of $50.24 and a 1 year high of $81.09. The business’s 50-day moving average is $67.01 and its 200 day moving average is $61.37.

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

Carrier Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Tuesday, July 21st will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Tuesday, July 21st. This represents a $0.96 annualized dividend and a dividend yield of 1.3%. Carrier Global’s payout ratio is 63.16%.

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.