Providence Capital Advisors LLC Buys 31,200 Shares of Carrier Global Corporation $CARR

Providence Capital Advisors LLC raised its stake in shares of Carrier Global Corporation (NYSE:CARR) by 38.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 113,008 shares of the company’s stock after purchasing an additional 31,200 shares during the period. Providence Capital Advisors LLC’s holdings in Carrier Global were worth $6,747,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Carrier Global by 0.5% during the 2nd quarter. Vanguard Group Inc. now owns 93,373,143 shares of the company’s stock valued at $6,833,980,000 after acquiring an additional 450,594 shares during the period. JPMorgan Chase & Co. lifted its holdings in Carrier Global by 23.8% during the second quarter. JPMorgan Chase & Co. now owns 38,536,301 shares of the company’s stock valued at $2,820,485,000 after purchasing an additional 7,409,432 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in Carrier Global by 3.1% during the second quarter. Fisher Asset Management LLC now owns 15,048,555 shares of the company’s stock valued at $1,101,404,000 after purchasing an additional 448,055 shares in the last quarter. Brown Advisory Inc. boosted its position in shares of Carrier Global by 6.3% in the second quarter. Brown Advisory Inc. now owns 10,281,880 shares of the company’s stock worth $752,533,000 after purchasing an additional 607,901 shares during the period. Finally, Norges Bank purchased a new stake in shares of Carrier Global in the second quarter worth $524,939,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Wall Street Analysts Forecast Growth

CARR has been the topic of a number of analyst reports. Rothschild & Co Redburn lowered their target price on shares of Carrier Global from $67.00 to $61.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 21st. JPMorgan Chase & Co. boosted their price objective on Carrier Global from $60.00 to $63.00 and gave the company a “neutral” rating in a research report on Friday, January 16th. Barclays decreased their target price on Carrier Global from $74.00 to $72.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 10th. Deutsche Bank Aktiengesellschaft dropped their price target on Carrier Global from $70.00 to $64.00 and set a “hold” rating for the company in a research note on Wednesday, October 29th. Finally, Wolfe Research reduced 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. Eleven research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $70.65.

Carrier Global Trading Up 2.2%

CARR stock opened at $65.34 on Tuesday. The firm has a fifty day moving average price of $55.66 and a 200 day moving average price of $59.08. Carrier Global Corporation has a fifty-two week low of $50.24 and a fifty-two week high of $81.09. The firm has a market cap of $54.61 billion, a PE ratio of 38.21, a price-to-earnings-growth ratio of 2.63 and a beta of 1.32. 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 (NYSE:CARR) last released its quarterly earnings data 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 net margin of 6.82% and a return on equity of 15.30%. The business had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $5.05 billion. During the same quarter last year, the business earned $0.54 EPS. 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. Sell-side analysts anticipate that Carrier Global Corporation will post 2.99 earnings per share for the current fiscal year.

Carrier Global Increases Dividend

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

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

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.