Bornite Capital Management LP Acquires New Shares in Carrier Global Corporation $CARR

Bornite Capital Management LP acquired a new position in Carrier Global Corporation (NYSE:CARR) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 500,000 shares of the company’s stock, valued at approximately $29,850,000. Carrier Global accounts for 2.8% of Bornite Capital Management LP’s portfolio, making the stock its 15th largest holding.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AdvisorShares Investments LLC purchased a new position in shares of Carrier Global during the 2nd quarter worth $25,000. Winnow Wealth LLC acquired a new position in Carrier Global in the second quarter valued at about $26,000. Twin Peaks Wealth Advisors LLC acquired a new position in Carrier Global in the second quarter valued at about $26,000. Clayton Financial Group LLC purchased a new position in Carrier Global during the third quarter worth about $26,000. Finally, Traub Capital Management LLC acquired a new stake in shares of Carrier Global during the second quarter valued at about $27,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Analysts Set New Price Targets

CARR has been the topic of several recent analyst reports. Weiss Ratings restated a “hold (c+)” rating on shares of Carrier Global in a report on Monday, December 29th. Rothschild & Co Redburn cut their target price on Carrier Global from $67.00 to $61.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 21st. Zacks Research cut Carrier Global from a “hold” rating to a “strong sell” rating in a research note on Monday, February 9th. Barclays dropped their price objective on Carrier Global from $74.00 to $72.00 and set an “overweight” rating for the company in a research note on Wednesday, December 10th. Finally, Citigroup increased their target price on Carrier Global from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Friday, February 6th. Twelve analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $70.60.

Carrier Global Stock Down 3.1%

Carrier Global stock opened at $64.38 on Thursday. The firm has a market capitalization of $53.81 billion, a P/E ratio of 37.65, a P/E/G ratio of 2.67 and a beta of 1.33. The company has a current ratio of 1.20, a quick ratio of 0.85 and a debt-to-equity ratio of 0.80. Carrier Global Corporation has a twelve month low of $50.24 and a twelve month high of $81.09. The stock’s fifty day simple moving average is $57.33 and its 200-day simple moving average is $58.83.

Carrier Global (NYSE:CARR) last released 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 company had revenue of $4.84 billion for the quarter, compared to analyst estimates of $5.05 billion. During the same period in the previous year, the firm earned $0.54 earnings per share. The company’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 analysts expect that Carrier Global Corporation will post 2.99 earnings per share for the current fiscal year.

Carrier Global Increases Dividend

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

Carrier Global announced that its Board of Directors has authorized a share buyback plan on Tuesday, October 28th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 10.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

About Carrier Global

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.