Dodge & Cox 13F: Adds $968M to Carrier Global (CARR) Stake
Dodge & Cox increased its Carrier Global holdings by 98%, reflecting confidence in the company.
Reviewed by automated data checks against the source filing. How we make and check alerts
Dodge & Cox added 13,200,981 shares to its stake in Carrier Global Corporation ($CARR), a 98.36% increase, according to a 13F filing with the SEC dated May 14, 2026. It reported 26,622,273 shares worth $1.95 billion at the end of the quarter.
Since the filing, $CARR is down 6.8% after 1 week, up 6.6% after 1 month and down 17.3% to date (from the $66.49 close on May 14, 2026).
CARR
Carrier Global Corporation
Key Points
- Dodge & Cox added 13.2 million shares of Carrier Global, boosting its stake by 98% to 26.6 million shares.
- Dodge & Cox held 26,622,273 $CARR shares at quarter end, up 98.36% from the prior quarter.
- Carrier Global's stock trades near $69.74 with a market cap of $57.9 billion and a P/E ratio of 46.5.
- Carrier Global pays a 1.38% dividend yield; next earnings report is expected on April 30, 2026.
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Dodge & Cox has significantly increased its investment in Carrier Global Corporation (CARR) according to its latest 13F filing with the SEC. The fund added 13,200,981 shares, nearly doubling its position to 26,622,273 shares, valued at approximately $1.86 billion as of the reporting period.
What Changed in Dodge & Cox's Carrier Global Position
Dodge & Cox's recent move shows a substantial boost in its holdings of Carrier Global, growing by 98% from 13,421,292 shares to 26,622,273 shares. This addition reflects a strong belief in the company's prospects, as the new position is valued at over $1.86 billion.
Carrier Global Corporation Stock Up 35.2%
Shares of Carrier Global traded around $69.74. The company has a market cap of about $57.9 billion and a P/E ratio of 46.5, indicating its earnings are priced higher than many peers. Carrier Global's beta of 1.337 suggests it is more volatile than the overall market. Over the past year, the stock has ranged from a low of $50.24 to a high of $81.09. The stock's 50-day moving average is $67.97, providing a recent benchmark.
Recent Earnings
Carrier Global reported its latest earnings on April 30, 2026. The company's earnings per share (EPS) stand at $1.50, with a market valuation that reflects its strong industry presence. Investors are keenly awaiting the next earnings release to gauge the company's ongoing performance.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
5 analysts raised price targets.
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EPS & revenue
EPS beat estimates by 9.8%. Revenue beat estimates by 4.6%.
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Profit surprise
EBITDA missed by 25 percent. Operating income missed by 48 percent.
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Pre-earnings setup
Expectations were about average.
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Analyst signal
5 target raises.
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Earnings quality
Gross margin down 4.4 points. Operating margin down 6.3 points. Positive free cash flow.
Earnings Call Summary
Carrier delivered a strong first quarter with 5.3 billion in sales and 0.57 earnings per share, beating expectations. Orders surged 11 percent overall with commercial up 35 percent and data center orders up more than 500 percent. The team expects data center sales this year to hit 1.5 billion dollars, with their backlog already covering that target. Residential improved better than expected with dealer inventory down 35 percent and healthy field levels, though macro uncertainty with high mortgage rates and fuel prices remains a concern. They are pushing pricing to offset tariff and input cost pressures and remain confident in delivering their sixth consecutive year of double-digit aftermarket growth.
Guidance Carrier reaffirmed its full year sales target of about 22 billion dollars with flat to low single-digit growth. They expect to offset new tariff and input cost pressures through supply chain actions, cost cuts, and about 2 percent more pricing through the year. Data center sales are on track for 1.5 billion dollars.
Slightly positive report. The quarter was acceptable, but the forward setup is not strong.
Dividend
Carrier Global offers a dividend yield of 1.38%, providing a steady income stream for shareholders. This yield is part of the company's broader strategy to return value to investors alongside its growth initiatives.
About Carrier Global Corporation
Carrier Global Corporation is a leader in providing intelligent climate and energy solutions worldwide. Headquartered in Palm Beach Gardens, Florida, the company operates across several regions including the Americas, Europe, and Asia Pacific. Carrier's offerings range from air conditioners and heating systems to transport refrigeration and monitoring products. With brands like Carrier, Toshiba, and Bryant, it serves both residential and commercial markets. The company was incorporated in 2019 and is led by CEO David L. Gitlin, employing around 47,000 people.
Bottom Line
Dodge & Cox's significant increase in its stake in Carrier Global signals confidence in the company's growth potential. Investors often track such large institutional moves for insights into market sentiment. However, it's important to remember that 13F filings are backward-looking and may not reflect current positions.
Related Filing Alerts
Source: Dodge & Cox's 13F filing on $CARR (May 14, 2026). 13F filings show holdings as of the end of the reporting quarter and may not reflect the fund's current position. Find the original filing: Dodge & Cox 13F filings on SEC EDGAR. Written by software, not financial advice. How we make alerts