Carrier Global Corporation $CARR Shares Purchased by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. raised its holdings in shares of Carrier Global Corporation (NYSE:CARR) by 51.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 205,154 shares of the company’s stock after purchasing an additional 69,684 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Carrier Global were worth $15,015,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. JPMorgan Chase & Co. grew its stake in Carrier Global by 17.6% during the 1st quarter. JPMorgan Chase & Co. now owns 31,126,869 shares of the company’s stock valued at $1,973,444,000 after purchasing an additional 4,668,929 shares in the last quarter. Nuveen LLC acquired a new stake in Carrier Global during the 1st quarter valued at approximately $649,512,000. Brown Advisory Inc. grew its stake in Carrier Global by 82.6% during the 1st quarter. Brown Advisory Inc. now owns 9,673,979 shares of the company’s stock valued at $613,330,000 after purchasing an additional 4,377,402 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Carrier Global by 0.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 6,968,294 shares of the company’s stock worth $441,790,000 after acquiring an additional 38,233 shares in the last quarter. Finally, PineStone Asset Management Inc. grew its position in shares of Carrier Global by 12.8% in the 2nd quarter. PineStone Asset Management Inc. now owns 5,300,483 shares of the company’s stock worth $387,942,000 after acquiring an additional 601,967 shares in the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Trading Up 3.8%

NYSE:CARR opened at $59.84 on Wednesday. Carrier Global Corporation has a 12-month low of $54.22 and a 12-month high of $81.30. The firm has a market capitalization of $50.92 billion, a P/E ratio of 13.04, a P/E/G ratio of 1.89 and a beta of 1.25. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.17 and a quick ratio of 0.80. The business has a 50 day simple moving average of $61.82 and a 200 day simple moving average of $66.94.

Carrier Global (NYSE:CARR) last released its quarterly earnings data on Tuesday, July 29th. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02. Carrier Global had a return on equity of 17.83% and a net margin of 18.33%.The business had revenue of $6.11 billion during the quarter, compared to analyst estimates of $6.08 billion. Carrier Global has set its FY 2025 guidance at 3.000-3.100 EPS. Equities research analysts predict that Carrier Global Corporation will post 2.99 EPS for the current year.

Carrier Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 18th. Shareholders of record on Wednesday, October 29th will be paid a dividend of $0.225 per share. The ex-dividend date of this dividend is Wednesday, October 29th. This represents a $0.90 annualized dividend and a yield of 1.5%. Carrier Global’s payout ratio is presently 19.61%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on CARR shares. Melius started coverage on Carrier Global in a research report on Tuesday, July 1st. They issued a “hold” rating and a $90.00 target price for the company. Mizuho decreased their target price on Carrier Global from $80.00 to $75.00 and set an “outperform” rating for the company in a research report on Friday. Wolfe Research decreased their target price on Carrier Global from $77.00 to $76.00 and set an “outperform” rating for the company in a research report on Wednesday, October 8th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Carrier Global in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. decreased their target price on Carrier Global from $76.00 to $61.00 and set a “neutral” rating for the company in a research report on Wednesday, October 15th. Eleven equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $75.67.

About Carrier Global

Carrier Global Corporation provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies in the United States, Europe, the Asia Pacific, and internationally. It operates through three segments: HVAC, Refrigeration, and Fire & Security.