CIBC Asset Management Inc Boosts Stake in Carrier Global Corporation $CARR

CIBC Asset Management Inc lifted its position in shares of Carrier Global Corporation (NYSE:CARR) by 62.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 187,883 shares of the company’s stock after acquiring an additional 72,101 shares during the quarter. CIBC Asset Management Inc’s holdings in Carrier Global were worth $9,928,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of CARR. Capital International Investors lifted its stake in Carrier Global by 6.7% in 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 in the last quarter. State Street Corp lifted its stake in Carrier Global by 1.4% in the 3rd quarter. State Street Corp now owns 33,377,339 shares of the company’s stock worth $1,992,627,000 after purchasing an additional 473,692 shares in the last quarter. Fisher Asset Management LLC lifted its stake in Carrier Global by 0.6% in the 3rd quarter. Fisher Asset Management LLC now owns 15,139,140 shares of the company’s stock worth $903,807,000 after purchasing an additional 90,585 shares in the last quarter. Dodge & Cox lifted its stake in Carrier Global by 5.1% in the 3rd quarter. Dodge & Cox now owns 13,427,697 shares of the company’s stock worth $801,634,000 after purchasing an additional 651,648 shares in the last quarter. Finally, Norges Bank purchased a new position in Carrier Global in the 4th quarter worth approximately $380,299,000. 91.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. 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. Argus upped their price objective on Carrier Global from $72.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. CICC Research decreased their price objective on Carrier Global from $76.85 to $69.78 and set an “outperform” rating on the stock in a report on Wednesday, February 11th. Barclays upped their price objective on Carrier Global from $67.00 to $79.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Finally, BNP Paribas Exane began coverage on Carrier Global in a report on Tuesday, April 14th. They issued a “neutral” rating and a $62.00 price objective on the stock. Twelve research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $74.04.

Carrier Global Stock Performance

NYSE:CARR opened at $67.18 on Friday. The firm has a market capitalization of $55.79 billion, a PE ratio of 44.19, a price-to-earnings-growth ratio of 2.75 and a beta of 1.34. The business’s fifty day moving average price is $62.30 and its 200 day moving average price is $59.02. 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 Corporation has a 12 month low of $50.24 and a 12 month high of $81.09.

Carrier Global (NYSE:CARR) last posted its earnings results on Thursday, April 30th. The company reported $0.57 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $5.01 billion. During the same quarter in the prior year, the company posted $0.65 earnings per share. Carrier Global’s revenue for the quarter was up 2.4% compared to the same quarter last year. Carrier Global has set its FY 2026 guidance at 2.800-2.800 EPS. On average, sell-side analysts anticipate that Carrier Global Corporation will post 2.78 earnings per share for the current fiscal 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 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 63.16%.

About Carrier Global

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.