Carrier Global Corporation $CARR Shares Sold by PineStone Asset Management Inc.

PineStone Asset Management Inc. trimmed its stake in Carrier Global Corporation (NYSE:CARR) by 3.2% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 6,128,808 shares of the company’s stock after selling 204,600 shares during the quarter. Carrier Global makes up about 2.2% of PineStone Asset Management Inc.’s investment portfolio, making the stock its 17th largest holding. PineStone Asset Management Inc. owned about 0.74% of Carrier Global worth $336,226,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Johnson Financial Group Inc. bought a new position in shares of Carrier Global during the second quarter worth about $25,000. Meeder Asset Management Inc. acquired a new stake in shares of Carrier Global in the 2nd quarter worth about $26,000. Financial Management Professionals Inc. increased its holdings in shares of Carrier Global by 142.4% in the 2nd quarter. Financial Management Professionals Inc. now owns 383 shares of the company’s stock worth $28,000 after acquiring an additional 225 shares during the period. Downshift Financial LLC lifted its position in Carrier Global by 69.5% in the 3rd quarter. Downshift Financial LLC now owns 517 shares of the company’s stock valued at $28,000 after purchasing an additional 212 shares during the last quarter. Finally, Signature Equity Partners LLC lifted its position in Carrier Global by 449.2% in the 1st quarter. Signature Equity Partners LLC now owns 648 shares of the company’s stock valued at $36,000 after purchasing an additional 530 shares during the last quarter. 91.00% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on CARR shares. Citigroup boosted their target price on shares of Carrier Global from $79.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, July 13th. Wolfe Research restated an “outperform” rating and issued a $80.00 target price on shares of Carrier Global in a research report on Thursday, July 9th. Royal Bank Of Canada dropped their price target on shares of Carrier Global from $82.00 to $72.00 and set an “outperform” rating on the stock in a research note on Wednesday. Zacks Research lowered shares of Carrier Global from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 1st. Finally, Sanford C. Bernstein cut their price target on Carrier Global from $78.00 to $64.00 and set a “market perform” rating on the stock in a report on Wednesday, October 7th. Eleven analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $70.43.

Carrier Global Trading Down 0.1%

Shares of CARR stock opened at $54.90 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.72 and a current ratio of 1.02. Carrier Global Corporation has a 1 year low of $50.24 and a 1 year high of $76.76. The stock has a fifty day moving average of $57.60 and a two-hundred day moving average of $62.79. The firm has a market capitalization of $45.26 billion, a PE ratio of 38.12, a price-to-earnings-growth ratio of 1.88 and a beta of 1.29.

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

Carrier Global Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend is Thursday, October 29th. This represents a $0.96 annualized dividend and a yield of 1.7%. Carrier Global’s dividend payout ratio is presently 66.67%.

About Carrier Global

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.