Cullinan Associates Inc. Buys 19,700 Shares of Carrier Global Corporation $CARR

Cullinan Associates Inc. grew its stake in Carrier Global Corporation (NYSE:CARR) by 218.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,700 shares of the company’s stock after purchasing an additional 19,700 shares during the period. Cullinan Associates Inc.’s holdings in Carrier Global were worth $1,616,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Aigen Investment Management LP lifted its stake in shares of Carrier Global by 0.3% in the fourth quarter. Aigen Investment Management LP now owns 49,268 shares of the company’s stock valued at $2,603,000 after buying an additional 166 shares during the period. Advisory Alpha LLC increased its stake in Carrier Global by 2.9% during the fourth quarter. Advisory Alpha LLC now owns 6,034 shares of the company’s stock valued at $319,000 after acquiring an additional 171 shares during the period. Texas Bank & Trust Co raised its holdings in Carrier Global by 1.3% in the 1st quarter. Texas Bank & Trust Co now owns 13,176 shares of the company’s stock valued at $742,000 after acquiring an additional 175 shares in the last quarter. Advisor OS LLC lifted its position in shares of Carrier Global by 0.8% in the 4th quarter. Advisor OS LLC now owns 21,477 shares of the company’s stock worth $1,135,000 after acquiring an additional 178 shares during the period. Finally, Personal CFO Solutions LLC grew its holdings 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 worth $1,389,000 after purchasing an additional 181 shares in the last quarter. Institutional investors own 91.00% of the company’s stock.

Analysts Set New Price Targets

CARR has been the subject of a number of recent research reports. Wells Fargo & Company upped their target price on Carrier Global from $58.00 to $71.00 in a research note on Friday, May 1st. Weiss Ratings raised shares of Carrier Global from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, April 22nd. Evercore lifted their price objective on Carrier Global from $75.00 to $85.00 in a report on Friday, May 1st. BNP Paribas Exane began coverage on Carrier Global in a research note on Tuesday, April 14th. They issued a “neutral” rating and a $62.00 price target on the stock. Finally, Mizuho lifted their price objective on Carrier Global from $67.00 to $75.00 in a report on Friday, May 1st. Twelve investment 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.com, Carrier Global presently has an average rating of “Moderate Buy” and an average target price of $73.46.

Carrier Global Price Performance

Shares of NYSE:CARR traded up $1.60 during trading on Friday, reaching $69.41. The stock had a trading volume of 5,640,872 shares, compared to its average volume of 5,006,579. The stock has a market capitalization of $57.65 billion, a PE ratio of 45.67, a P/E/G ratio of 2.78 and a beta of 1.31. Carrier Global Corporation has a 52 week low of $50.24 and a 52 week high of $81.09. The business’s 50-day moving average price is $68.04 and its 200 day moving average price is $62.09. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.05 and a quick ratio of 0.75.

Carrier Global (NYSE:CARR) last released its quarterly earnings results on Thursday, April 30th. The company reported $0.57 earnings per share for the quarter, beating 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 analysts’ expectations of $5.01 billion. During the same period last year, the firm posted $0.65 EPS. The business’s revenue was up 2.4% on a year-over-year basis. Carrier Global has set its FY 2026 guidance at 2.800-2.800 EPS. As a group, equities analysts predict that Carrier Global Corporation will post 2.79 earnings per share for the current year.

Carrier Global Announces Dividend

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 $0.24 dividend. The ex-dividend date is Tuesday, July 21st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.4%. Carrier Global’s dividend payout ratio (DPR) is 63.16%.

Carrier Global 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.