Shell Asset Management Co. Lowers Stock Position in Carrier Global Corporation $CARR

Shell Asset Management Co. reduced its position in Carrier Global Corporation (NYSE:CARR) by 42.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,982 shares of the company’s stock after selling 10,178 shares during the quarter. Shell Asset Management Co.’s holdings in Carrier Global were worth $835,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CARR. Rehmann Capital Advisory Group raised its holdings in shares of Carrier Global by 1.3% in the 2nd quarter. Rehmann Capital Advisory Group now owns 12,083 shares of the company’s stock worth $884,000 after purchasing an additional 150 shares during the period. Kingsview Wealth Management LLC increased its position in Carrier Global by 1.0% during the 2nd quarter. Kingsview Wealth Management LLC now owns 17,110 shares of the company’s stock worth $1,252,000 after purchasing an additional 165 shares in the last quarter. Empirical Finance LLC raised its holdings in Carrier Global by 0.6% in the second quarter. Empirical Finance LLC now owns 29,227 shares of the company’s stock valued at $2,139,000 after buying an additional 168 shares during the period. Poehling Capital Management INC. raised its holdings in Carrier Global by 0.4% in the second quarter. Poehling Capital Management INC. now owns 38,397 shares of the company’s stock valued at $2,810,000 after buying an additional 169 shares during the period. Finally, PKS Advisory Services LLC lifted its position in Carrier Global by 3.5% during the second quarter. PKS Advisory Services LLC now owns 5,098 shares of the company’s stock valued at $373,000 after buying an additional 173 shares in the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Trading Up 0.8%

NYSE:CARR opened at $65.43 on Tuesday. The stock has a market cap of $54.69 billion, a price-to-earnings ratio of 38.26, a price-to-earnings-growth ratio of 2.62 and a beta of 1.32. Carrier Global Corporation has a one year low of $50.24 and a one year 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 business’s 50-day simple moving average is $56.84 and its 200 day simple moving average is $58.79.

Carrier Global (NYSE:CARR) last posted its quarterly earnings data on Thursday, February 5th. The company reported $0.34 earnings per share (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 analysts’ expectations of $5.05 billion. During the same quarter in the prior year, the firm earned $0.54 earnings per share. Carrier Global’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 fiscal year.

Carrier Global announced that its Board of Directors 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 reacquire up to 10.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Carrier Global Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CARR. Argus raised their target price on shares of Carrier Global from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Monday, February 9th. Wells Fargo & Company raised their price objective on Carrier Global from $59.00 to $65.00 and gave the company an “equal weight” rating in a research report on Friday, February 6th. Oppenheimer restated a “market perform” rating on shares of Carrier Global in a research note on Wednesday, October 29th. Citigroup increased their target price on Carrier Global from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Friday, February 6th. Finally, Barclays reduced their price target on Carrier Global from $74.00 to $72.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 10th. Twelve research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $70.60.

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.