Carrier Global Corporation $CARR Stock Purchased by Cardinal Capital Management Inc.

Cardinal Capital Management Inc. grew its position in shares of Carrier Global Corporation (NYSE:CARR) by 19.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 686,997 shares of the company’s stock after buying an additional 111,662 shares during the quarter. Cardinal Capital Management Inc. owned 0.08% of Carrier Global worth $37,689,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of New York Mellon Corp purchased a new stake in Carrier Global during the second quarter valued at $590,759,000. Bank of America Corp DE purchased a new position in Carrier Global in the second quarter worth about $572,908,000. Legal & General Group Plc purchased a new position in Carrier Global in the second quarter worth about $322,366,000. Primecap Management Co. CA purchased a new position in Carrier Global in the second quarter worth about $283,585,000. Finally, Deutsche Bank AG bought a new stake in shares of Carrier Global during the 2nd quarter valued at about $166,165,000. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Carrier Global Stock Performance

NYSE:CARR opened at $54.90 on Friday. The stock has a 50-day simple moving average of $57.60 and a two-hundred day simple moving average of $62.79. Carrier Global Corporation has a 52-week low of $50.24 and a 52-week high of $76.76. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.72 and a current ratio of 1.02. The firm has a market capitalization of $45.26 billion, a PE ratio of 22.52, a P/E/G ratio of 1.88 and a beta of 1.29.

Carrier Global (NYSE:CARR) last posted its quarterly earnings data on Tuesday, July 28th. The company reported $0.86 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $6.02 billion. During the same quarter last year, the company earned $0.92 earnings per share. The business’s revenue for the quarter 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. Analysts forecast that Carrier Global Corporation will post 2.87 EPS for the current year.

Carrier Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 18th. Investors of record on Thursday, October 29th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Thursday, October 29th. Carrier Global’s dividend payout ratio is currently 66.67%.

Analyst Ratings Changes

Several research firms have recently commented on CARR. Mizuho reduced their price target on shares of Carrier Global from $75.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday. JPMorgan Chase & Co. began coverage on shares of Carrier Global in a report on Friday, October 9th. They issued a “neutral” rating and a $61.00 price objective on the stock. Sanford C. Bernstein dropped their price objective on shares of Carrier Global from $78.00 to $64.00 and set a “market perform” rating on the stock in a report on Wednesday, October 7th. Royal Bank Of Canada cut their target price on shares of Carrier Global from $82.00 to $72.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, Wells Fargo & Company started coverage on shares of Carrier Global in a report on Thursday, September 24th. They set an “overweight” rating and a $67.00 target price for the company. Eleven research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, Carrier Global currently has a consensus rating of “Moderate Buy” and an average price target of $70.43.

Carrier Global Company Profile

Carrier Global Corporation (NYSE:CARR) is a global provider of intelligent climate and energy solutions. The company develops and manufactures heating, ventilation and air-conditioning (HVAC) systems, heat pumps, building controls, and related equipment for residential, commercial and industrial customers. Its offerings are designed to support temperature control, indoor air quality, energy efficiency and building performance.

Carrier also provides refrigeration products and services for food retail, transportation and other applications.