Bornite Capital Management LP Takes Position in Carrier Global Corporation $CARR

Bornite Capital Management LP bought a new stake in Carrier Global Corporation (NYSE:CARR) in the 3rd quarter, according to its most recent filing with the SEC. The fund bought 500,000 shares of the company’s stock, valued at approximately $29,850,000. Carrier Global accounts for 2.8% of Bornite Capital Management LP’s investment portfolio, making the stock its 15th largest holding. Bornite Capital Management LP owned about 0.06% of Carrier Global as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CARR. Spirepoint Private Client LLC boosted its position in Carrier Global by 547.7% during the third quarter. Spirepoint Private Client LLC now owns 60,694 shares of the company’s stock worth $3,623,000 after purchasing an additional 51,324 shares in the last quarter. Foster Victor Wealth Advisors LLC increased its position in shares of Carrier Global by 24.1% in the third quarter. Foster Victor Wealth Advisors LLC now owns 216,777 shares of the company’s stock valued at $12,931,000 after buying an additional 42,161 shares in the last quarter. Oak Thistle LLC acquired a new position in shares of Carrier Global during the 3rd quarter worth approximately $1,986,000. Brookstone Capital Management lifted its position in shares of Carrier Global by 220.8% during the 3rd quarter. Brookstone Capital Management now owns 51,852 shares of the company’s stock valued at $3,096,000 after buying an additional 35,691 shares in the last quarter. Finally, Deprince Race & Zollo Inc. acquired a new stake in Carrier Global in the 3rd quarter valued at $20,678,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Barclays reduced their price objective on shares of Carrier Global from $74.00 to $72.00 and set an “overweight” rating for the company in a research report on Wednesday, December 10th. CICC Research reduced 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. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Carrier Global from $70.00 to $64.00 and set a “hold” rating on the stock in a research note on Wednesday, October 29th. Mizuho cut their price objective on Carrier Global from $75.00 to $67.00 and set an “outperform” rating for the company in a research note on Monday, January 5th. Finally, Zacks Research cut Carrier Global from a “hold” rating to a “strong sell” rating in a report on Monday, February 9th. Twelve research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $70.60.

Carrier Global Price Performance

NYSE:CARR opened at $64.38 on Thursday. Carrier Global Corporation has a one year low of $50.24 and a one year high of $81.09. The stock has a market cap of $53.81 billion, a PE ratio of 37.65, a P/E/G ratio of 2.67 and a beta of 1.33. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.85 and a current ratio of 1.20. The stock has a 50 day moving average price of $57.33 and a 200 day moving average price of $58.83.

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). Carrier Global had a return on equity of 15.30% and a net margin of 6.82%.The company had revenue of $4.84 billion for the quarter, compared to analyst estimates of $5.05 billion. During the same period last year, the firm posted $0.54 EPS. The business’s quarterly revenue was down 6.0% on a year-over-year basis. Carrier Global has set its FY 2026 guidance at 2.800-2.800 EPS. Equities research analysts expect that Carrier Global Corporation will post 2.99 EPS for the current fiscal year.

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 is an increase from Carrier Global’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Tuesday, January 20th. Carrier Global’s payout ratio is currently 56.14%.

Carrier Global announced that its Board of Directors has initiated a share buyback program on Tuesday, October 28th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the company to reacquire up to 10.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

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.