M&G PLC Acquires 15,461 Shares of Carrier Global Corporation $CARR

M&G PLC grew its holdings in Carrier Global Corporation (NYSE:CARR) by 4.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 391,491 shares of the company’s stock after purchasing an additional 15,461 shares during the period. M&G PLC’s holdings in Carrier Global were worth $23,489,000 as of its most recent SEC filing.

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

Carrier Global Stock Up 0.8%

Shares of CARR opened at $65.43 on Monday. The business’s 50 day moving average is $56.59 and its 200 day moving average is $58.81. 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 Corporation has a 12-month low of $50.24 and a 12-month high of $81.09. The company has a market capitalization 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.

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

Carrier Global Increases Dividend

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

Carrier Global announced that its board has authorized a share repurchase program on Tuesday, October 28th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 10.1% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

CARR has been the subject of a number of recent research reports. CICC Research cut their price target on Carrier Global from $76.85 to $69.78 and set an “outperform” rating for the company in a research note on Wednesday, February 11th. Mizuho cut their target price on shares of Carrier Global from $75.00 to $67.00 and set an “outperform” rating for the company in a research report on Monday, January 5th. Oppenheimer reiterated a “market perform” rating on shares of Carrier Global in a research note on Wednesday, October 29th. Wells Fargo & Company upped their price objective on Carrier Global from $59.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Friday, February 6th. Finally, Barclays cut their price target on Carrier Global from $74.00 to $72.00 and set an “overweight” rating for the company in a report on Wednesday, December 10th. Twelve investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $70.60.

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.