M&G PLC Raises Position in Carrier Global Corporation $CARR

M&G PLC increased its stake in shares of Carrier Global Corporation (NYSE:CARR) by 4.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 391,491 shares of the company’s stock after purchasing an additional 15,461 shares during the quarter. M&G PLC’s holdings in Carrier Global were worth $23,489,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of CARR. Brighton Jones LLC raised its position in Carrier Global by 30.3% in the 4th quarter. Brighton Jones LLC now owns 7,958 shares of the company’s stock worth $543,000 after purchasing an additional 1,850 shares during the period. AQR Capital Management LLC lifted its stake in shares of Carrier Global by 51.5% during the 1st quarter. AQR Capital Management LLC now owns 68,225 shares of the company’s stock worth $4,236,000 after acquiring an additional 23,200 shares during the last quarter. MGO One Seven LLC purchased a new position in Carrier Global during the 2nd quarter valued at $200,000. Ritholtz Wealth Management grew its position in Carrier Global by 14.4% in the 2nd quarter. Ritholtz Wealth Management now owns 4,539 shares of the company’s stock valued at $332,000 after acquiring an additional 571 shares during the last quarter. Finally, Mutual Advisors LLC increased its stake in Carrier Global by 120.9% in the second quarter. Mutual Advisors LLC now owns 12,163 shares of the company’s stock worth $982,000 after purchasing an additional 6,657 shares during the period. 91.00% of the stock is currently owned by 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 company has a market capitalization of $54.69 billion, a PE ratio of 38.26, a P/E/G ratio of 2.62 and a beta of 1.32. Carrier Global Corporation has a 12-month low of $50.24 and a 12-month high of $81.09. The business’s fifty day simple moving average is $56.59 and its 200-day simple moving average is $58.81.

Carrier Global (NYSE:CARR) last announced its earnings results on Thursday, February 5th. The company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). Carrier Global had a return on equity of 15.30% and a net margin of 6.82%.The firm had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $5.05 billion. During the same quarter in the prior year, the firm posted $0.54 earnings per share. The business’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, equities research analysts predict that Carrier Global Corporation will post 2.99 earnings per share for the current fiscal year.

Carrier Global Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 9th. Shareholders of record on Tuesday, January 20th were issued a $0.24 dividend. 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%. The ex-dividend date of this dividend was Tuesday, January 20th. Carrier Global’s dividend payout ratio is presently 56.14%.

Carrier Global announced that its board has approved a share repurchase plan on Tuesday, October 28th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the company to purchase up to 10.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft cut their price target on shares of Carrier Global from $70.00 to $64.00 and set a “hold” rating on the stock in a report on Wednesday, October 29th. Royal Bank Of Canada upped their target price on shares of Carrier Global from $70.00 to $74.00 and gave the stock an “outperform” rating in a research note on Friday, February 6th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Carrier Global in a research note on Monday, December 29th. CICC Research dropped their price objective on Carrier Global from $76.85 to $69.78 and set an “outperform” rating on the stock in a research note on Wednesday, February 11th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Carrier Global in a research report on Wednesday, October 29th. Twelve analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Carrier Global presently has a consensus rating of “Moderate Buy” and an average 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.