Summitry LLC Boosts Holdings in Carrier Global Corporation $CARR

Summitry LLC lifted its stake in shares of Carrier Global Corporation (NYSE:CARR) by 2.4% in the third quarter, Holdings Channel reports. The firm owned 1,014,643 shares of the company’s stock after buying an additional 23,420 shares during the period. Carrier Global accounts for about 2.6% of Summitry LLC’s investment portfolio, making the stock its 16th largest position. Summitry LLC’s holdings in Carrier Global were worth $60,574,000 as of its most recent SEC filing.

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

Carrier Global Trading Up 0.8%

Shares of NYSE CARR opened at $65.43 on Monday. The company has a current ratio of 1.20, a quick ratio of 0.85 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $54.69 billion, a PE ratio of 38.26, a PEG ratio of 2.62 and a beta of 1.32. Carrier Global Corporation has a twelve month low of $50.24 and a twelve month high of $81.09. The stock has a fifty day simple moving average of $56.59 and a 200-day simple moving average of $58.81.

Carrier Global (NYSE:CARR) last released its earnings results on Thursday, February 5th. The company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.02). The firm 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 revenue was down 6.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.54 earnings per share. Carrier Global has set its FY 2026 guidance at 2.800-2.800 EPS. On average, equities analysts forecast that Carrier Global Corporation will post 2.99 earnings per share for the current year.

Carrier Global Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 9th. Shareholders of record on Tuesday, January 20th were given a $0.24 dividend. The ex-dividend date of this dividend was Tuesday, January 20th. This represents a $0.96 annualized dividend and a yield of 1.5%. This is a boost from Carrier Global’s previous quarterly dividend of $0.23. Carrier Global’s dividend payout ratio is 56.14%.

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

Analyst Upgrades and Downgrades

CARR has been the subject of several recent research reports. JPMorgan Chase & Co. increased their price target on Carrier Global from $60.00 to $63.00 and gave the company a “neutral” rating in a report on Friday, January 16th. Wells Fargo & Company upped their target price on Carrier Global from $59.00 to $65.00 and gave the company an “equal weight” rating in a report on Friday, February 6th. Deutsche Bank Aktiengesellschaft reduced their price target on Carrier Global from $70.00 to $64.00 and set a “hold” rating on the stock in a report on Wednesday, October 29th. The Goldman Sachs Group upped their price objective on shares of Carrier Global from $68.00 to $74.00 and gave the company a “buy” rating in a report on Friday, February 6th. Finally, CICC Research cut 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, February 11th. Twelve analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock 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.