Carrier Global Corporation (NYSE:CARR) Short Interest Up 40.0% in January

Carrier Global Corporation (NYSE:CARR) was the recipient of a large growth in short interest in January. As of January 30th, there was short interest totaling 17,973,334 shares, a growth of 40.0% from the January 15th total of 12,841,954 shares. Based on an average daily volume of 9,527,071 shares, the days-to-cover ratio is presently 1.9 days. Currently, 2.3% of the shares of the stock are sold short. Currently, 2.3% of the shares of the stock are sold short. Based on an average daily volume of 9,527,071 shares, the days-to-cover ratio is presently 1.9 days.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Mizuho cut their price objective on shares of Carrier Global from $75.00 to $67.00 and set an “outperform” rating for the company in a research note on Monday, January 5th. Wells Fargo & Company raised their price target on Carrier Global from $59.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Friday, February 6th. Rothschild & Co Redburn cut their price target on shares of Carrier Global from $67.00 to $61.00 and set a “neutral” rating on the stock in a report on Wednesday, January 21st. Oppenheimer reiterated a “market perform” rating on shares of Carrier Global in a report on Wednesday, October 29th. Finally, JPMorgan Chase & Co. upped their target price on Carrier Global from $60.00 to $63.00 and gave the company a “neutral” rating in a report on Friday, January 16th. Twelve equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Carrier Global currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.60.

Carrier Global Stock Up 1.9%

Carrier Global stock traded up $1.25 during mid-day trading on Tuesday, hitting $66.65. The company had a trading volume of 1,101,562 shares, compared to its average volume of 8,377,522. The stock’s 50 day moving average price is $56.84 and its two-hundred day moving average price is $58.79. The company has a market capitalization of $55.71 billion, a PE ratio of 38.98, a price-to-earnings-growth ratio of 2.62 and a beta of 1.32. Carrier Global has a 12 month low of $50.24 and a 12 month high of $81.09. 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 (NYSE:CARR) last posted its quarterly earnings results on Thursday, February 5th. The company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). The business 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%. Carrier Global’s revenue was down 6.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.54 earnings per share. Carrier Global has set its FY 2026 guidance at 2.800-2.800 EPS. As a group, sell-side analysts anticipate that Carrier Global will post 2.99 earnings per share for the current fiscal year.

Carrier Global announced that its board has authorized a share 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 shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

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 given a dividend of $0.24 per share. 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 1.4%. Carrier Global’s dividend payout ratio is currently 56.14%.

Institutional Investors Weigh In On Carrier Global

Several institutional investors have recently added to or reduced their stakes in the business. AdvisorShares Investments LLC purchased a new position in shares of Carrier Global in the 2nd quarter valued at approximately $25,000. KERR FINANCIAL PLANNING Corp purchased a new stake in shares of Carrier Global during the third quarter valued at $25,000. YANKCOM Partnership increased its position in shares of Carrier Global by 78.5% in the 4th quarter. YANKCOM Partnership now owns 473 shares of the company’s stock valued at $25,000 after acquiring an additional 208 shares during the period. Torren Management LLC acquired a new position in shares of Carrier Global in the 4th quarter valued at $25,000. Finally, Winnow Wealth LLC purchased a new position in Carrier Global in the 2nd quarter worth $26,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

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.