Prescott Group Capital Management L.L.C. Makes New Investment in Carrier Global Corporation $CARR

Prescott Group Capital Management L.L.C. acquired a new position in shares of Carrier Global Corporation (NYSE:CARR) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 14,867 shares of the company’s stock, valued at approximately $888,000.

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

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CARR. Royal Bank Of Canada upped their price objective on Carrier Global from $70.00 to $74.00 and gave the company an “outperform” rating in a research note on Friday, February 6th. The Goldman Sachs Group increased their price target on Carrier Global from $68.00 to $74.00 and gave the company a “buy” rating in a research note on Friday, February 6th. CICC Research reduced their price objective on shares of Carrier Global from $76.85 to $69.78 and set an “outperform” rating for the company in a research report on Wednesday. Wolfe Research dropped their price objective on shares of Carrier Global from $74.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, January 15th. Finally, Argus raised their target price on shares of Carrier Global from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday. Twelve investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $70.60.

Carrier Global Price Performance

NYSE:CARR opened at $64.95 on Friday. Carrier Global Corporation has a 52 week low of $50.24 and a 52 week high of $81.09. 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’s 50-day simple moving average is $56.36 and its 200 day simple moving average is $59.07. The firm has a market cap of $54.29 billion, a price-to-earnings ratio of 37.98, a P/E/G ratio of 2.69 and a beta of 1.33.

Carrier Global (NYSE:CARR) last announced its earnings results on Thursday, February 5th. The company reported $0.34 EPS for the quarter, missing the consensus estimate 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 the consensus estimate of $5.05 billion. During the same period in the prior year, the business posted $0.54 earnings per share. The firm’s revenue for the quarter 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. As a group, sell-side analysts predict that Carrier Global Corporation will post 2.99 earnings per share for the current year.

Carrier Global Increases Dividend

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

Carrier Global declared that its board has approved a share repurchase program on Tuesday, October 28th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the company to buy up to 10.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Carrier Global 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.