Rhumbline Advisers Boosts Stock Holdings in Carrier Global Corporation $CARR

Rhumbline Advisers lifted its holdings in Carrier Global Corporation (NYSE:CARR) by 1.2% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,477,959 shares of the company’s stock after purchasing an additional 18,133 shares during the period. Rhumbline Advisers owned about 0.18% of Carrier Global worth $88,234,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CARR. AdvisorShares Investments LLC purchased a new stake in Carrier Global during the second quarter worth $25,000. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Carrier Global in the 2nd quarter valued at $26,000. Winnow Wealth LLC bought a new position in shares of Carrier Global in the 2nd quarter worth $26,000. Traub Capital Management LLC bought a new position in shares of Carrier Global in the 2nd quarter worth $27,000. Finally, Clayton Financial Group LLC purchased a new stake in shares of Carrier Global during the 3rd quarter worth $26,000. 91.00% of the stock is currently owned by institutional investors.

Carrier Global Stock Performance

Shares of Carrier Global stock opened at $64.95 on Friday. The company has a 50 day moving average price of $56.36 and a 200 day moving average price of $59.07. The firm has a market capitalization of $54.29 billion, a P/E ratio of 37.98, a PEG ratio of 2.69 and a beta of 1.33. The company has a quick ratio of 0.85, a current ratio of 1.20 and a debt-to-equity ratio of 0.80. Carrier Global Corporation has a 52 week low of $50.24 and a 52 week high of $81.09.

Carrier Global (NYSE:CARR) last issued its quarterly 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). The company had revenue of $4.84 billion for the quarter, compared to analyst estimates of $5.05 billion. Carrier Global had a net margin of 6.82% and a return on equity of 15.30%. The company’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.54 EPS. Carrier Global has set its FY 2026 guidance at 2.800-2.800 EPS. Sell-side analysts expect that Carrier Global Corporation will post 2.99 EPS for the current year.

Carrier Global Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 9th. Investors of record on Tuesday, January 20th were paid a $0.24 dividend. This is a positive change from Carrier Global’s previous quarterly dividend of $0.23. The ex-dividend date was Tuesday, January 20th. This represents a $0.96 dividend on an annualized basis and a yield of 1.5%. Carrier Global’s dividend payout ratio (DPR) is 56.14%.

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

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Mizuho cut their target price on Carrier Global from $75.00 to $67.00 and set an “outperform” rating on the stock in a research note on Monday, January 5th. Barclays lowered their price target on shares of Carrier Global from $74.00 to $72.00 and set an “overweight” rating on the stock in a report on Wednesday, December 10th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Carrier Global from $70.00 to $64.00 and set a “hold” rating on the stock in a research report on Wednesday, October 29th. JPMorgan Chase & Co. increased their target price on shares of Carrier Global from $60.00 to $63.00 and gave the company a “neutral” rating in a research report on Friday, January 16th. Finally, UBS Group lowered their target price on shares of Carrier Global from $73.00 to $70.00 and set a “buy” rating for the company in a research note on Monday, January 5th. Twelve investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $70.60.

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.