EDENTREE ASSET MANAGEMENT Ltd Buys New Shares in Carrier Global Corporation $CARR

EDENTREE ASSET MANAGEMENT Ltd bought a new position in Carrier Global Corporation (NYSE:CARR) during the third quarter, according to the company in its most recent filing with the SEC. The firm bought 122,000 shares of the company’s stock, valued at approximately $7,283,000. Carrier Global accounts for approximately 1.8% of EDENTREE ASSET MANAGEMENT Ltd’s investment portfolio, making the stock its 20th biggest holding.

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

Carrier Global Price Performance

CARR opened at $64.18 on Friday. The firm has a market cap of $53.65 billion, a PE ratio of 37.53, a P/E/G ratio of 2.58 and a beta of 1.33. The stock has a 50-day moving average price of $57.73 and a 200-day moving average price of $58.79. Carrier Global Corporation has a 1 year low of $50.24 and a 1 year high of $81.09. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.20 and a quick ratio of 0.85.

Carrier Global (NYSE:CARR) last released its quarterly earnings data on Thursday, February 5th. The company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). The firm had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $5.05 billion. Carrier Global had a net margin of 6.82% and a return on equity of 15.30%. The firm’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.54 earnings per share. Carrier Global has set its FY 2026 guidance at 2.800-2.800 EPS. Sell-side analysts predict that Carrier Global Corporation will post 2.99 earnings per share for the current fiscal year.

Carrier Global declared that its board has authorized a stock buyback program on Tuesday, October 28th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the company to buy up to 10.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Carrier Global Increases Dividend

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

Wall Street Analysts Forecast Growth

CARR has been the topic of several research analyst reports. Mizuho reduced their target price on Carrier Global from $75.00 to $67.00 and set an “outperform” rating on the stock in a research note on Monday, January 5th. Citigroup upped their price target on Carrier Global from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Friday, February 6th. Wolfe Research dropped their target price on shares of Carrier Global from $74.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, January 15th. JPMorgan Chase & Co. upped their target price on shares of Carrier Global from $60.00 to $63.00 and gave the stock a “neutral” rating in a research report on Friday, January 16th. Finally, CICC Research lowered their price target on shares of Carrier Global from $76.85 to $69.78 and set an “outperform” rating for the company in a research report on Wednesday, February 11th. Twelve research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus 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.