5 Stocks That Will Benefit from Record Breaking Temperatures

3. Carrier Global Corporation (NYSE:CARR)

Number of Hedge Fund Holders: 42

Carrier Global Corporation (NYSE:CARR) provides heating, ventilation, and air conditioning systems, refrigeration, fire, security, and building automation technologies worldwide. The company operates through three business segments: HVAC, Refrigeration, and Fire & Security. On July 15, Jefferies analyst Stephen Volkmann trimmed his price target on Carrier Global Corporation (NYSE:CARR) to $47 from $55 and reiterated a Buy rating on the shares.

On June 9, Carrier Global Corporation (NYSE:CARR) announced that its board of directors have declared a quarterly cash dividend of $0.15 per share of the company’s common stock. The dividend is payable on August 10 to shareholders of record on June 23. As of July 27, Carrier Global Corporation (NYSE:CARR) has a forward dividend yield of 1.58% and free cash flows of $1.50 billion.

In the first quarter of 2022, Renaissance Technologies raised its stakes in Carrier Global Corporation (NYSE:CARR) by 126%. As of March 31, the fund owns more than 5.3 million shares of the company which amounts to a stake of $243.42 million. Renaissance Technologies is the largest shareholder in Carrier Global Corporation (NYSE:CARR).

At the end of the first quarter of 2022, 42 hedge funds were long Carrier Global Corporation (NYSE:CARR) and held stakes worth $1.14 billion in the company. This is compared to 45 positions in the previous quarter with stakes worth $1.24 billion.