Rhumbline Advisers Grows Stock Holdings in Carrier Global Corporation $CARR

Rhumbline Advisers lifted its position in shares of Carrier Global Corporation (NYSE:CARR) by 1.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 1,477,959 shares of the company’s stock after purchasing an additional 18,133 shares during the period. Rhumbline Advisers’ holdings in Carrier Global were worth $88,234,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in CARR. AdvisorShares Investments LLC purchased a new stake in Carrier Global in the 2nd quarter valued at $25,000. Winnow Wealth LLC purchased a new stake in shares of Carrier Global in the second quarter valued at about $26,000. Twin Peaks Wealth Advisors LLC acquired a new stake in Carrier Global during the second quarter worth about $26,000. Clayton Financial Group LLC acquired a new position in Carrier Global in the 3rd quarter valued at about $26,000. Finally, Traub Capital Management LLC acquired a new stake in shares of Carrier Global during the 2nd quarter worth approximately $27,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Trading Down 3.2%

NYSE CARR opened at $64.95 on Friday. 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 firm has a market cap of $54.29 billion, a price-to-earnings ratio of 37.98, a PEG ratio of 2.69 and a beta of 1.33. The firm has a 50 day simple moving average of $56.36 and a 200-day simple moving average of $59.07. 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 business had revenue of $4.84 billion for the quarter, compared to analyst estimates of $5.05 billion. During the same quarter last year, the company earned $0.54 earnings per share. Carrier Global’s quarterly revenue was down 6.0% compared to the same quarter last year. Carrier Global has set its FY 2026 guidance at 2.800-2.800 EPS. Equities research analysts anticipate that Carrier Global Corporation will post 2.99 EPS for the current fiscal year.

Carrier Global Increases Dividend

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

Carrier Global announced that its board has initiated a share repurchase plan on Tuesday, October 28th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 10.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of research firms have commented on CARR. Citigroup lifted their target price on Carrier Global from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Friday, February 6th. Zacks Research downgraded shares of Carrier Global from a “hold” rating to a “strong sell” rating in a research note on Monday. Morgan Stanley set a $55.00 price objective on shares of Carrier Global in a report on Thursday, January 8th. Mizuho dropped their target price on shares of Carrier Global from $75.00 to $67.00 and set an “outperform” rating for the company in a report on Monday, January 5th. Finally, UBS Group cut their target price on Carrier Global from $73.00 to $70.00 and set a “buy” rating on the stock in a research report on Monday, January 5th. Twelve research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $70.60.

About Carrier Global

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.