Cibc World Market Inc. Boosts Holdings in Carrier Global Corporation $CARR

Cibc World Market Inc. raised its position in Carrier Global Corporation (NYSE:CARR) by 31.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 138,894 shares of the company’s stock after purchasing an additional 33,445 shares during the period. Cibc World Market Inc.’s holdings in Carrier Global were worth $8,292,000 at the end of the most recent reporting period.

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

Carrier Global Price Performance

Shares of NYSE:CARR opened at $65.43 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.20 and a debt-to-equity ratio of 0.80. The stock has a market cap of $54.69 billion, a PE ratio of 38.26, a PEG ratio of 2.60 and a beta of 1.33. The company’s fifty day moving average is $56.59 and its 200 day moving average is $58.97. Carrier Global Corporation has a 52 week low of $50.24 and a 52 week high of $81.09.

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 return on equity of 15.30% and a net margin of 6.82%.The company had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $5.05 billion. During the same quarter in the prior year, the firm posted $0.54 EPS. The firm’s quarterly revenue was down 6.0% on a year-over-year basis. Carrier Global has set its FY 2026 guidance at 2.800-2.800 EPS. Research analysts anticipate that Carrier Global Corporation will post 2.99 earnings per share for the current year.

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

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 given a $0.24 dividend. The ex-dividend date 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 dividend payout ratio is presently 56.14%.

Wall Street Analyst Weigh In

CARR has been the topic of a number of recent analyst reports. The Goldman Sachs Group raised their target price on shares of Carrier Global from $68.00 to $74.00 and gave the company a “buy” rating in a research note on Friday, February 6th. Mizuho decreased their price target on shares of Carrier Global from $75.00 to $67.00 and set an “outperform” rating on the stock in a report on Monday, January 5th. CICC Research lowered their price objective on shares of Carrier Global from $76.85 to $69.78 and set an “outperform” rating on the stock in a research report on Wednesday. Rothschild & Co Redburn cut their target price on shares of Carrier Global from $67.00 to $61.00 and set a “neutral” rating for the company in a research report on Wednesday, January 21st. Finally, Royal Bank Of Canada increased their target price on Carrier Global from $70.00 to $74.00 and gave the company an “outperform” rating in a research note on Friday, February 6th. Twelve research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. Based on 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.