Comerica Bank Lowers Stake in Carrier Global Corporation $CARR

Comerica Bank lowered its position in shares of Carrier Global Corporation (NYSE:CARR) by 6.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 300,816 shares of the company’s stock after selling 19,643 shares during the quarter. Comerica Bank’s holdings in Carrier Global were worth $15,895,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Spirepoint Private Client LLC grew its holdings in shares of Carrier Global by 547.7% during the 3rd quarter. Spirepoint Private Client LLC now owns 60,694 shares of the company’s stock worth $3,623,000 after purchasing an additional 51,324 shares during the period. Becker Capital Management Inc. grew its holdings in shares of Carrier Global by 5.6% during the 3rd quarter. Becker Capital Management Inc. now owns 425,547 shares of the company’s stock worth $25,405,000 after purchasing an additional 22,377 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of Carrier Global by 6.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,127,670 shares of the company’s stock worth $59,586,000 after purchasing an additional 72,906 shares during the period. Y.D. More Investments Ltd purchased a new stake in shares of Carrier Global during the 4th quarter worth about $1,556,000. Finally, Meitav Investment House Ltd. grew its holdings in shares of Carrier Global by 79.5% during the 3rd quarter. Meitav Investment House Ltd. now owns 364,653 shares of the company’s stock worth $21,770,000 after purchasing an additional 161,513 shares during the period. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Performance

Shares of CARR opened at $62.26 on Wednesday. The business’s 50 day moving average is $59.71 and its two-hundred day moving average is $57.62. Carrier Global Corporation has a 52-week low of $50.24 and a 52-week high of $81.09. The firm has a market cap of $52.01 billion, a price-to-earnings ratio of 36.41, a PEG ratio of 2.52 and a beta of 1.32. The company has a quick ratio of 0.85, a current ratio of 1.20 and a debt-to-equity ratio of 0.80.

Carrier Global (NYSE:CARR) last announced its earnings results on Thursday, February 5th. The company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). Carrier Global had a net margin of 6.82% and a return on equity of 15.30%. The business had revenue of $4.84 billion during the quarter, compared to analyst estimates of $5.05 billion. During the same period in the previous year, the company earned $0.54 earnings per share. The business’s revenue for the quarter was down 6.0% on a year-over-year basis. Carrier Global has set its FY 2026 guidance at 2.800-2.800 EPS. Analysts forecast that Carrier Global Corporation will post 2.74 EPS for the current fiscal year.

Carrier Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Monday, May 4th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Monday, May 4th. Carrier Global’s dividend payout ratio is currently 56.14%.

Analyst Ratings Changes

A number of analysts have recently issued reports on CARR shares. Argus boosted their target price on Carrier Global from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Monday, February 9th. Rothschild & Co Redburn decreased their price target on Carrier Global from $67.00 to $61.00 and set a “neutral” rating for the company in a report on Wednesday, January 21st. The Goldman Sachs Group upped their price target on Carrier Global from $68.00 to $74.00 and gave the stock a “buy” rating in a report on Friday, February 6th. Royal Bank Of Canada decreased their price target on Carrier Global from $74.00 to $68.00 and set an “outperform” rating for the company in a report on Wednesday, April 8th. Finally, Mizuho decreased their price target on Carrier Global from $75.00 to $67.00 and set an “outperform” rating for the company in a report on Monday, January 5th. Thirteen investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $69.69.

Carrier Global Company 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.