QRG Capital Management Inc. Buys 79,662 Shares of Carrier Global Corporation $CARR

QRG Capital Management Inc. increased its stake in shares of Carrier Global Corporation (NYSE:CARR) by 152.8% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 131,804 shares of the company’s stock after buying an additional 79,662 shares during the quarter. QRG Capital Management Inc.’s holdings in Carrier Global were worth $7,422,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in CARR. Norges Bank purchased a new position in Carrier Global in the fourth quarter valued at about $380,299,000. Capital International Investors increased its stake in shares of Carrier Global by 6.7% during the 3rd quarter. Capital International Investors now owns 57,982,302 shares of the company’s stock worth $3,461,142,000 after purchasing an additional 3,630,524 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Carrier Global by 506.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 4,187,219 shares of the company’s stock worth $249,977,000 after purchasing an additional 3,496,372 shares during the period. Assenagon Asset Management S.A. lifted its stake in Carrier Global by 461.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,460,321 shares of the company’s stock valued at $130,003,000 after purchasing an additional 2,022,136 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board purchased a new position in Carrier Global in the fourth quarter valued at approximately $99,839,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Down 0.1%

Carrier Global stock opened at $69.97 on Friday. The firm has a 50 day simple moving average of $67.36 and a 200 day simple moving average of $61.55. The company has a current ratio of 1.05, a quick ratio of 0.75 and a debt-to-equity ratio of 0.76. Carrier Global Corporation has a 1-year low of $50.24 and a 1-year high of $81.09. The firm has a market capitalization of $58.12 billion, a price-to-earnings ratio of 46.03, a P/E/G ratio of 2.81 and a beta of 1.31.

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

Carrier Global Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts have weighed in on CARR shares. Zacks Research raised Carrier Global from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 7th. Rothschild & Co Redburn upped their price target on Carrier Global from $61.00 to $73.00 and gave the company a “neutral” rating in a research report on Tuesday, May 5th. Argus increased their price target on Carrier Global from $72.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. The Goldman Sachs Group increased their price target on Carrier Global from $74.00 to $80.00 in a research note on Friday, May 1st. Finally, JPMorgan Chase & Co. boosted their price objective on Carrier Global from $63.00 to $67.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Twelve analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $73.25.

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.