Summitry LLC Purchases 23,420 Shares of Carrier Global Corporation $CARR

Summitry LLC lifted its position in Carrier Global Corporation (NYSE:CARR) by 2.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,014,643 shares of the company’s stock after acquiring an additional 23,420 shares during the quarter. Carrier Global accounts for 2.6% of Summitry LLC’s portfolio, making the stock its 16th largest position. Summitry LLC owned about 0.12% of Carrier Global worth $60,574,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Rehmann Capital Advisory Group boosted its holdings in Carrier Global by 1.3% during the 2nd quarter. Rehmann Capital Advisory Group now owns 12,083 shares of the company’s stock valued at $884,000 after acquiring an additional 150 shares during the period. Kingsview Wealth Management LLC raised its position in Carrier Global by 1.0% during the 2nd quarter. Kingsview Wealth Management LLC now owns 17,110 shares of the company’s stock valued at $1,252,000 after purchasing an additional 165 shares in the last quarter. Empirical Finance LLC lifted its holdings in shares of Carrier Global by 0.6% in the 2nd quarter. Empirical Finance LLC now owns 29,227 shares of the company’s stock worth $2,139,000 after buying an additional 168 shares during the period. Poehling Capital Management INC. increased its stake in shares of Carrier Global by 0.4% during the second quarter. Poehling Capital Management INC. now owns 38,397 shares of the company’s stock valued at $2,810,000 after buying an additional 169 shares during the period. Finally, PKS Advisory Services LLC raised its holdings in shares of Carrier Global by 3.5% in the second quarter. PKS Advisory Services LLC now owns 5,098 shares of the company’s stock valued at $373,000 after acquiring an additional 173 shares in the last quarter. Institutional investors own 91.00% of the company’s stock.

Analysts Set New Price Targets

CARR has been the subject of several research reports. Morgan Stanley set a $55.00 price target on shares of Carrier Global in a research report on Thursday, January 8th. Royal Bank Of Canada raised their target price on shares of Carrier Global from $70.00 to $74.00 and gave the company an “outperform” rating in a research note on Friday, February 6th. Robert W. Baird increased their price objective on Carrier Global from $66.00 to $72.00 and gave the company an “outperform” rating in a report on Friday, February 6th. Rothschild & Co Redburn dropped their target price on Carrier Global from $67.00 to $61.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 21st. Finally, Argus upped their price objective on shares of Carrier Global from $70.00 to $72.00 and gave the company a “buy” rating in a report on Monday, February 9th. Twelve investment 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 MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.60.

Carrier Global Stock Up 0.8%

NYSE:CARR opened at $65.43 on Monday. 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. The firm has a market capitalization of $54.69 billion, a P/E ratio of 38.26, a PEG ratio of 2.62 and a beta of 1.32. The company’s fifty day moving average price is $56.59 and its 200-day moving average price is $58.81.

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

Carrier Global Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 9th. Shareholders of record on Tuesday, January 20th were issued a $0.24 dividend. The ex-dividend date of this dividend 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 yield of 1.5%. Carrier Global’s dividend payout ratio is presently 56.14%.

Carrier Global announced that its board has initiated a share repurchase plan on Tuesday, October 28th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 10.1% of its shares through open market purchases. Shares repurchase plans are generally a sign 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.