PineStone Asset Management Inc. Sells 204,600 Shares of Carrier Global Corporation $CARR

PineStone Asset Management Inc. decreased its position in shares of Carrier Global Corporation (NYSE:CARR) by 3.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 6,128,808 shares of the company’s stock after selling 204,600 shares during the quarter. Carrier Global accounts for 2.2% of PineStone Asset Management Inc.’s investment portfolio, making the stock its 17th biggest holding. PineStone Asset Management Inc.’s holdings in Carrier Global were worth $336,226,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CARR. Dynamic Advisor Solutions LLC lifted its position in Carrier Global by 2.8% in the second quarter. Dynamic Advisor Solutions LLC now owns 5,801 shares of the company’s stock worth $426,000 after purchasing an additional 158 shares during the period. Texas Bank & Trust Co boosted its stake in Carrier Global by 1.3% during the 1st quarter. Texas Bank & Trust Co now owns 13,176 shares of the company’s stock valued at $742,000 after purchasing an additional 175 shares in the last quarter. Personal CFO Solutions LLC increased its position in shares of Carrier Global by 0.7% during the 1st quarter. Personal CFO Solutions LLC now owns 24,671 shares of the company’s stock valued at $1,389,000 after purchasing an additional 181 shares during the period. PFG Investments LLC increased its position in shares of Carrier Global by 2.8% during the 1st quarter. PFG Investments LLC now owns 7,242 shares of the company’s stock valued at $408,000 after purchasing an additional 198 shares during the period. Finally, HORAN Wealth LLC increased its position in shares of Carrier Global by 3.6% during the 1st quarter. HORAN Wealth LLC now owns 5,771 shares of the company’s stock valued at $306,000 after purchasing an additional 200 shares during the period. Institutional investors own 91.00% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on CARR shares. Wolfe Research reissued an “outperform” rating and issued a $80.00 price objective on shares of Carrier Global in a research note on Thursday, July 9th. Zacks Research cut Carrier Global from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 1st. Wells Fargo & Company assumed coverage on Carrier Global in a research note on Thursday, September 24th. They set an “overweight” rating and a $67.00 target price for the company. Citigroup lifted their target price on Carrier Global from $79.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, July 13th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Carrier Global in a report on Monday, July 20th. Eleven analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $70.43.

Carrier Global Stock Down 0.1%

NYSE CARR opened at $54.90 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.02 and a quick ratio of 0.72. The company’s 50 day simple moving average is $57.60 and its 200 day simple moving average is $62.79. Carrier Global Corporation has a 12 month low of $50.24 and a 12 month high of $76.76. The company has a market capitalization of $45.26 billion, a P/E ratio of 38.12, a PEG ratio of 1.88 and a beta of 1.29.

Carrier Global (NYSE:CARR) last released its earnings results on Tuesday, July 28th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.82 by $0.04. The business had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.02 billion. Carrier Global had a net margin of 5.52% and a return on equity of 14.68%. The business’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.92 earnings per share. Carrier Global has set its FY 2026 guidance at 2.900-2.900 EPS. Equities research analysts expect that Carrier Global Corporation will post 2.87 earnings per share for the current fiscal year.

Carrier Global Dividend Announcement

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

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.