ING Groep NV Buys New Stake in Carrier Global Corporation $CARR

ING Groep NV purchased a new stake in shares of Carrier Global Corporation (NYSE:CARR) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 191,716 shares of the company’s stock, valued at approximately $11,445,000.

Several other large investors have also recently modified their holdings of the company. Spirepoint Private Client LLC increased its stake in shares of Carrier Global by 547.7% in the third quarter. Spirepoint Private Client LLC now owns 60,694 shares of the company’s stock worth $3,623,000 after buying an additional 51,324 shares during the last quarter. Foster Victor Wealth Advisors LLC grew its holdings in Carrier Global by 24.1% during the 3rd quarter. Foster Victor Wealth Advisors LLC now owns 216,777 shares of the company’s stock worth $12,931,000 after acquiring an additional 42,161 shares in the last quarter. Oak Thistle LLC acquired a new stake in shares of Carrier Global in the 3rd quarter valued at about $1,986,000. Brookstone Capital Management raised its stake in shares of Carrier Global by 220.8% in the 3rd quarter. Brookstone Capital Management now owns 51,852 shares of the company’s stock valued at $3,096,000 after purchasing an additional 35,691 shares in the last quarter. Finally, Deprince Race & Zollo Inc. bought a new position in shares of Carrier Global during the third quarter worth about $20,678,000. Institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Up 2.1%

CARR opened at $67.22 on Thursday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.85 and a current ratio of 1.20. The company has a market capitalization of $56.18 billion, a PE ratio of 39.31, a P/E/G ratio of 2.64 and a beta of 1.33. The stock’s fifty day moving average is $56.15 and its 200-day moving average is $59.03. Carrier Global Corporation has a one year low of $50.24 and a one year high of $81.09.

Carrier Global (NYSE:CARR) last released 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 return on equity of 15.30% and a net margin of 6.82%.The firm had revenue of $4.84 billion for the quarter, compared to analyst estimates of $5.05 billion. During the same period in the previous year, the firm earned $0.54 earnings per share. Carrier Global’s revenue was down 6.0% on a year-over-year basis. Carrier Global has set its FY 2026 guidance at 2.800-2.800 EPS. On average, equities analysts predict that Carrier Global Corporation will post 2.99 EPS for the current fiscal year.

Carrier Global Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 9th. Stockholders of record on Tuesday, January 20th were issued a dividend of $0.24 per share. The ex-dividend date was Tuesday, January 20th. This represents a $0.96 annualized dividend and a dividend yield of 1.4%. This is an increase from Carrier Global’s previous quarterly dividend of $0.23. Carrier Global’s dividend payout ratio is presently 56.14%.

Carrier Global declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, October 28th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 10.1% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

CARR has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their target price on Carrier Global from $60.00 to $63.00 and gave the company a “neutral” rating in a research note on Friday, January 16th. Morgan Stanley set a $55.00 price objective on Carrier Global in a research report on Thursday, January 8th. Royal Bank Of Canada increased their target price on Carrier Global from $70.00 to $74.00 and gave the stock an “outperform” rating in a research report on Friday, February 6th. Argus boosted their price target on shares of Carrier Global from $70.00 to $72.00 and gave the company a “buy” rating in a report on Monday. Finally, Zacks Research cut shares of Carrier Global from a “hold” rating to a “strong sell” rating in a report on Monday. Eleven equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Carrier Global has an average rating of “Moderate Buy” and an average target price of $70.65.

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.