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CARR · NYSE · Industrial - Machinery

Carrier Global (CARR)

Builds HVAC, energy-management and transport-refrigeration systems, backed by lifecycle services.

$55.51
vs last close+0.25 (+0.45%)
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Carrier Global CorporationCARR
Industrials

Sells residential and commercial HVAC, home and building energy systems, and transport refrigeration through regional and transportation segments. Equipment provides most sales, while installed systems support parts, maintenance, upgrades and monitoring; international operations contribute roughly half of sales.

Designs heating, cooling and energy-management systems for homes and commercial buildings through Climate Solutions Americas, Climate Solutions Europe, and Climate Solutions Asia Pacific, Middle East & Africa. Climate Solutions Transportation supplies refrigeration and monitoring for trucks, trailers and shipping containers carrying food, medicine and other perishables. Carrier, Viessmann, Toshiba, Automated Logic, Carrier Transicold and Sensitech anchor the portfolio.

Equipment generates most sales, complemented by replacement parts, repair, maintenance, modernization and digital monitoring across the installed base. Dealer, distributor and contractor channels extend its reach, while international operations contribute roughly half of sales. The completed Riello sale further concentrates the portfolio on climate and energy solutions. Demand depends on weather, construction and remodeling activity, transport-equipment cycles, and changing refrigerant and energy-efficiency rules.

Company facts

CEODavid L. Gitlin
ListedApr 3, 2020
ExchangeNYSE
HeadquartersPalm Beach Gardens, FL
CountryUnited States
Employees47,000
CIK0001783180
ISINUS14448C1045

Market cap$45.55B
EPS (ttm)$1.44
P/E (ttm)38.37
ROE8.9%
P/B3.46
P/S2.06
Dividend yieldDiv yield1.71%
Beta1.27vs XLI 1.43

Price target$78.50+42.1%Average of 26 analysts
ConsensusBuy14 of 26 analysts
Ratings

Target rangeAs of Sep 22, 2026

Latest analyst notes

DateFirmActionPriorCurrent
Jul 30, 2026BernsteinReiterate
Rating: —Target: $75
Rating: Market PerformTarget: $78
Jul 9, 2026Wolfe ResearchReiterate
Rating: —Target: $74
Rating: OutperformTarget: $80
Jun 9, 2026BernsteinTarget
Target: —
Target: $75
May 1, 2026BarclaysReiterate
Rating: —Target: $72
Rating: OverweightTarget: $79
Apr 14, 2026BNP ParibasTarget
Target: —
Target: $62

Next report
Oct 27, 26
in 34 days
EPS estimate
$0.77
Revenue estimate
$5.99B
Fiscal quarter
Q3 FY26

EPSReportedEstimate

Feb '25May '25Jul '25Oct '25Feb '26Apr '26Jul '26Oct '26
Reported$0.54$0.65$0.92$0.67$0.34$0.57$0.86Pending
Estimate$0.50$0.58$0.91$0.63$0.37$0.51$0.82$0.77
Surprise+7.4%+11.3%+1.5%+5.7%−9.3%+12.2%+5.3%—

RevenueReportedEstimate

Feb '25May '25Jul '25Oct '25Feb '26Apr '26Jul '26Oct '26
Reported$5.15B$5.22B$6.11B$5.58B$4.84B$5.34B$6.35BPending
Estimate$5.31B$5.19B$6.11B$5.65B$5.05B$5.01B$6.02B$5.99B
Surprise−3.0%+0.6%+0.1%−1.3%−4.2%+6.5%+5.5%—
Estimate$0.77
ReportedDue Oct 27, 2026
Estimate$5.99B
ReportedDue Oct 27, 2026
View details

Debt to equity94.30%
Current ratio102.00%

ProfitabilityRevenueNet incomeNet margin

Q3 FY24Q4 FY24Q1 FY25Q2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26
Revenue$5.98B$5.15B$5.22B$6.11B$5.58B$4.84B$5.34B$6.35B
Net income$447.0M$2.55B$412.0M$591.0M$428.0M$53.0M$238.0M$501.0M
Net margin7.5%49.6%7.9%9.7%7.7%1.1%4.5%7.9%

GrowthOperating income

Q3 FY24Q4 FY24Q1 FY25Q2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26
Operating income$763.0M$379.0M$563.0M$795.0M$495.0M$54.0M$240.0M$770.0M
YoY growth+49.6%−37.6%+46.2%+9.8%−35.1%−85.8%−57.4%−3.1%

Balance sheet, Jun 30, 2026Cash & short-term investments $1.34B · Total debt $12.39B · Total assets $37.37B · Shareholders' equity $13.15B

Revenue
$6.35B
Operating income
$770.0M
Net income
$501.0M
View details

Dividend yield
1.71%
Next ex-date
Oct 21, 26
estimated · in 28 days
Annual dividend
$0.95
per share
Schedule
Quarterly
4 payments a year

HistoryDividendAnnual yield

Oct '24Dec '24May '25Jul '25Oct '25Jan '26May '26Jul '26
Dividend$0.19$0.225$0.225$0.225$0.225$0.24$0.24$0.24
Annual yield1.03%1.16%1.16%1.14%1.48%1.66%1.41%1.42%
Ex-dateOct 25Dec 20May 2Jul 21Oct 29Jan 20May 4Jul 21
Payment dateNov 18Feb 7May 22Aug 8Nov 18Feb 9May 22Aug 10
View details

Institutions88.72%731.35M shares
1,708 holders · as of Jun 30, 2026
Insiders4.74%39.06M shares
12 holders · as of Jul 2, 2026
Strategic holders7.14%58.82M shares
1 holder · as of Feb 3, 2022
Adds to100.60%

824.33M company shares as of Sep 23, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing

These groups come from separate filings that can overlap, so they add to 100.60%; nothing is left for Other.

Top shareholders13F · 13D/G · Form 4

HolderStakeSharesDate
Capital Research Global InvestorsInstitution
12.87%106.07Mas of Jun 30, 2026
BlackRock, Inc.Institution
8.15%67.18Mas of Jun 30, 2026
BlackRock, Inc.Strategic
7.14%58.82Mfiled Feb 3, 2022
Vanguard Capital Management LLCInstitution
6.22%51.28Mas of Jun 30, 2026
Maximilian ViessmannInsiderdirector
4.61%37.98Mfiled May 20, 2026

Insider tradesForm 4

DateInsiderRoleSharesAvg price
May 20, 2026Maximilian Viessmanndirector−12,094,823$62.01
Nov 25, 2025David L. Gitlindirector, officer: Chairman and CEO+19,300$52.62
View details

  • Trane Technologies

    Closest pure-play peer; competes in commercial HVAC, heat pumps, and transport.

  • Johnson Controls

    Commercial buildings pure-play; applied HVAC, data centers, building automation.

  • Lennox International

    North American residential HVAC pure-play with premium dealer network.

  • AAON

    Premium commercial HVAC and data center cooling specialist via BASX brand.

Compare

CompanyPriceChange
Carrier Global$55.51+0.45%$45.55B38.418.22.1+3.9%
Trane Technologies$440.18+0.54%$96.33B33.226.64.3+10.6%
Johnson Controls$146.67+0.16%$88.70B25.525.13.5+9.3%
Lennox International$371.92+0.06%$12.85B16.815.02.4+3.0%
AAON$79.76+0.62%$6.49B41.529.13.4+101.2%
Median29.425.93.5+9.9%