Providence Capital Advisors LLC Increases Position in Carrier Global Corporation $CARR

Providence Capital Advisors LLC grew its holdings in shares of Carrier Global Corporation (NYSE:CARR) by 38.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 113,008 shares of the company’s stock after purchasing an additional 31,200 shares during the period. Providence Capital Advisors LLC’s holdings in Carrier Global were worth $6,747,000 as of its most recent SEC filing.

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

Carrier Global Stock Performance

Shares of CARR opened at $65.34 on Tuesday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.20 and a quick ratio of 0.85. Carrier Global Corporation has a one year low of $50.24 and a one year high of $81.09. The firm has a market capitalization of $54.61 billion, a P/E ratio of 38.21, a PEG ratio of 2.63 and a beta of 1.32. The business has a fifty day moving average of $55.66 and a 200 day moving average of $59.08.

Carrier Global (NYSE:CARR) last posted its earnings results 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 firm had revenue of $4.84 billion during 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%. The firm’s revenue was down 6.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.54 EPS. Carrier Global has set its FY 2026 guidance at 2.800-2.800 EPS. As a group, sell-side analysts anticipate that Carrier Global Corporation will post 2.99 EPS for the current year.

Carrier Global declared that its Board of Directors has authorized a stock buyback program on Tuesday, October 28th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows 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 stock is undervalued.

Carrier Global Increases Dividend

The firm 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. This represents a $0.96 annualized dividend and a yield of 1.5%. This is a positive change from Carrier Global’s previous quarterly dividend of $0.23. The ex-dividend date was Tuesday, January 20th. Carrier Global’s dividend payout ratio (DPR) is presently 56.14%.

Analyst Upgrades and Downgrades

CARR has been the subject of several recent analyst reports. The Goldman Sachs Group lifted their target price on shares of Carrier Global from $68.00 to $74.00 and gave the stock a “buy” rating in a report on Friday. Weiss Ratings reissued a “hold (c+)” rating on shares of Carrier Global in a research report on Monday, December 29th. JPMorgan Chase & Co. upped their price objective on Carrier Global from $60.00 to $63.00 and gave the company a “neutral” rating in a research report on Friday, January 16th. Morgan Stanley set a $55.00 target price on Carrier Global in a report on Thursday, January 8th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Carrier Global from $70.00 to $64.00 and set a “hold” rating on the stock in a report on Wednesday, October 29th. Eleven analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $70.65.

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.