PNC Financial Services Group Inc. Sells 34,010 Shares of Carrier Global Corporation $CARR

PNC Financial Services Group Inc. trimmed its stake in Carrier Global Corporation (NYSE:CARR) by 3.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 946,401 shares of the company’s stock after selling 34,010 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Carrier Global were worth $56,500,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. AdvisorShares Investments LLC bought a new position in shares of Carrier Global during the 2nd quarter worth about $25,000. Winnow Wealth LLC bought a new stake in Carrier Global in the 2nd quarter valued at about $26,000. Twin Peaks Wealth Advisors LLC acquired a new position in Carrier Global during the 2nd quarter worth approximately $26,000. Clayton Financial Group LLC acquired a new position in Carrier Global during the 3rd quarter worth approximately $26,000. Finally, Traub Capital Management LLC bought a new position in Carrier Global in the second quarter worth approximately $27,000. 91.00% of the stock is owned by institutional investors.

Carrier Global Price Performance

Shares of NYSE:CARR opened at $65.43 on Tuesday. 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 stock has a market cap of $54.69 billion, a PE ratio of 38.26, a price-to-earnings-growth ratio of 2.62 and a beta of 1.32. The stock’s fifty day simple moving average is $56.84 and its two-hundred day simple moving average is $58.79. Carrier Global Corporation has a 1-year low of $50.24 and a 1-year high of $81.09.

Carrier Global (NYSE:CARR) last posted its earnings results on Thursday, February 5th. The company reported $0.34 earnings per share (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 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 previous year, the company earned $0.54 EPS. The business’s revenue 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, analysts forecast that Carrier Global Corporation will post 2.99 EPS for the current fiscal year.

Carrier Global Increases Dividend

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

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

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Royal Bank Of Canada boosted their price objective on Carrier Global from $70.00 to $74.00 and gave the company an “outperform” rating in a report on Friday, February 6th. Wolfe Research reduced their price target on shares of Carrier Global from $74.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, January 15th. The Goldman Sachs Group boosted their price target 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 dropped their price objective on shares of Carrier Global from $75.00 to $67.00 and set an “outperform” rating on the stock in a research note on Monday, January 5th. Finally, Wells Fargo & Company lifted their price objective on shares of Carrier Global from $59.00 to $65.00 and gave the company an “equal weight” rating in a report on Friday, February 6th. Twelve research 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. According to MarketBeat.com, the company has an average 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.