Carrier Global Corporation (NYSE:CARR) Short Interest Update

Carrier Global Corporation (NYSE:CARR) saw a significant increase in short interest during the month of January. As of January 30th, there was short interest totaling 17,973,334 shares, an increase of 40.0% from the January 15th total of 12,841,954 shares. Based on an average daily trading volume, of 9,527,071 shares, the days-to-cover ratio is currently 1.9 days. Currently, 2.3% of the shares of the company are short sold. Currently, 2.3% of the shares of the company are short sold. Based on an average daily trading volume, of 9,527,071 shares, the days-to-cover ratio is currently 1.9 days.

Carrier Global Price Performance

Shares of NYSE:CARR traded up $0.54 during midday trading on Friday, reaching $65.43. 6,101,087 shares of the company’s stock were exchanged, compared to its average volume of 9,369,298. The firm has a market capitalization of $54.69 billion, a PE ratio of 38.26, a price-to-earnings-growth ratio of 2.62 and a beta of 1.33. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.85 and a current ratio of 1.20. Carrier Global has a 12 month low of $50.24 and a 12 month high of $81.09. The company’s 50 day simple moving average is $56.59 and its two-hundred day simple moving average is $58.88.

Carrier Global (NYSE:CARR) last announced its earnings results on Thursday, February 5th. The company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). The business had revenue of $4.84 billion during 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 business’s quarterly revenue was down 6.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.54 earnings per share. Carrier Global has set its FY 2026 guidance at 2.800-2.800 EPS. Equities research analysts expect that Carrier Global will post 2.99 earnings per share for the current fiscal year.

Carrier Global Increases Dividend

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

Carrier Global announced that its board has initiated a share repurchase program on Tuesday, October 28th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 10.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On Carrier Global

Several institutional investors and hedge funds have recently added to or reduced their stakes in CARR. JPMorgan Chase & Co. lifted its holdings in shares of Carrier Global by 23.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 38,536,301 shares of the company’s stock worth $2,820,485,000 after acquiring an additional 7,409,432 shares during the last quarter. Norges Bank bought a new stake in Carrier Global in the fourth quarter worth $380,299,000. Capital International Investors increased its stake in Carrier Global by 6.7% during the 3rd quarter. Capital International Investors now owns 57,982,302 shares of the company’s stock valued at $3,461,142,000 after purchasing an additional 3,630,524 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in Carrier Global by 506.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 4,187,219 shares of the company’s stock worth $249,977,000 after acquiring an additional 3,496,372 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in shares of Carrier Global by 1,742.8% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,623,000 shares of the company’s stock valued at $265,167,000 after purchasing an additional 3,426,395 shares in the last quarter. 91.00% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CARR has been the subject of several research reports. Royal Bank Of Canada lifted their price objective on Carrier Global from $70.00 to $74.00 and gave the stock an “outperform” rating in a report on Friday, February 6th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Carrier Global from $70.00 to $64.00 and set a “hold” rating for the company in a research report on Wednesday, October 29th. Oppenheimer reissued a “market perform” rating on shares of Carrier Global in a report on Wednesday, October 29th. JPMorgan Chase & Co. upped their price objective on Carrier Global from $60.00 to $63.00 and gave the stock a “neutral” rating in a research note on Friday, January 16th. Finally, Mizuho lowered their target price on shares of Carrier Global from $75.00 to $67.00 and set an “outperform” rating on the stock in a research note on Monday, January 5th. Twelve analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus 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.