Professional Advisory Services Inc. Acquires 68,547 Shares of Carrier Global Corporation $CARR

Professional Advisory Services Inc. grew its holdings in shares of Carrier Global Corporation (NYSE:CARR) by 22.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 370,360 shares of the company’s stock after buying an additional 68,547 shares during the period. Carrier Global accounts for about 2.4% of Professional Advisory Services Inc.’s holdings, making the stock its 24th largest holding. Professional Advisory Services Inc.’s holdings in Carrier Global were worth $20,318,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Bank of New York Mellon Corp purchased a new position in Carrier Global in the second quarter valued at approximately $590,759,000. Bank of America Corp DE acquired a new stake in Carrier Global during the second quarter worth approximately $572,908,000. Legal & General Group Plc purchased a new stake in shares of Carrier Global during the 2nd quarter worth approximately $322,366,000. Primecap Management Co. CA purchased a new stake in shares of Carrier Global during the 2nd quarter worth approximately $283,585,000. Finally, Deutsche Bank AG acquired a new position in shares of Carrier Global in the 2nd quarter valued at $166,165,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Performance

Shares of Carrier Global stock traded up $0.83 during trading on Thursday, reaching $55.83. The company’s stock had a trading volume of 4,950,418 shares, compared to its average volume of 6,806,182. The company has a 50-day moving average price of $58.68 and a two-hundred day moving average price of $62.92. The firm has a market cap of $46.02 billion, a PE ratio of 38.77, a P/E/G ratio of 1.92 and a beta of 1.29. Carrier Global Corporation has a fifty-two week low of $50.24 and a fifty-two week high of $76.76. The company has a current ratio of 1.02, a quick ratio of 0.72 and a debt-to-equity ratio of 0.77.

Carrier Global (NYSE:CARR) last issued its quarterly earnings data on Tuesday, July 28th. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.04. Carrier Global had a net margin of 5.52% and a return on equity of 14.68%. The company had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.02 billion. During the same period last year, the firm posted $0.92 EPS. Carrier Global’s revenue for the quarter was up 3.9% on a year-over-year basis. Carrier Global has set its FY 2026 guidance at 2.900-2.900 EPS. On average, analysts forecast that Carrier Global Corporation will post 2.87 EPS for the current year.

Carrier Global Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 18th. Investors of record on Thursday, October 29th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Thursday, October 29th. Carrier Global’s dividend payout ratio is currently 66.67%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CARR. Citigroup increased their target price on shares of Carrier Global from $79.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, July 13th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Carrier Global from $71.00 to $64.00 and set a “hold” rating for the company in a research report on Wednesday, September 30th. Sanford C. Bernstein dropped their price objective on Carrier Global from $78.00 to $64.00 and set a “market perform” rating on the stock in a report on Wednesday. Wells Fargo & Company initiated coverage on Carrier Global in a research report on Thursday, September 24th. They set an “overweight” rating and a $67.00 target price on the stock. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Carrier Global in a report on Monday, July 20th. Twelve research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $72.27.

About Carrier Global

Carrier Global Corporation (NYSE:CARR) is a global provider of intelligent climate and energy solutions. The company develops and manufactures heating, ventilation and air-conditioning (HVAC) systems, heat pumps, building controls, and related equipment for residential, commercial and industrial customers. Its offerings are designed to support temperature control, indoor air quality, energy efficiency and building performance.

Carrier also provides refrigeration products and services for food retail, transportation and other applications.