Cibc World Market Inc. Grows Stock Holdings in Carrier Global Corporation $CARR

Cibc World Market Inc. grew its position in shares of Carrier Global Corporation (NYSE:CARR) by 31.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 138,894 shares of the company’s stock after acquiring an additional 33,445 shares during the period. Cibc World Market Inc.’s holdings in Carrier Global were worth $8,292,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Spirepoint Private Client LLC raised its holdings in Carrier Global by 547.7% in the 3rd 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. Oak Thistle LLC purchased a new position in shares of Carrier Global during the third quarter valued at about $1,986,000. Foster Victor Wealth Advisors LLC increased its position in shares of Carrier Global by 24.1% during 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 during the period. Deprince Race & Zollo Inc. bought a new position in Carrier Global in the third quarter worth about $20,678,000. Finally, Brookstone Capital Management lifted its holdings in Carrier Global by 220.8% in the third quarter. Brookstone Capital Management now owns 51,852 shares of the company’s stock worth $3,096,000 after buying an additional 35,691 shares during the period. 91.00% of the stock is owned by institutional investors.

Carrier Global Trading Up 0.8%

NYSE CARR opened at $65.43 on Friday. Carrier Global Corporation 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. The stock’s fifty day moving average price is $56.59 and its 200-day moving average price is $58.97. The stock has a market cap of $54.69 billion, a P/E ratio of 38.26, a P/E/G ratio of 2.60 and a beta of 1.33.

Carrier Global (NYSE:CARR) last announced its quarterly earnings results on Thursday, February 5th. The company reported $0.34 earnings per share (EPS) 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 return on equity of 15.30% and a net margin of 6.82%.The business’s revenue for the quarter was down 6.0% on a year-over-year basis. 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. As a group, equities analysts forecast that Carrier Global Corporation will post 2.99 EPS for the current fiscal year.

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 outstanding shares. This repurchase authorization allows the company to repurchase up to 10.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Carrier Global Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 9th. Stockholders of record on Tuesday, January 20th were issued a dividend of $0.24 per share. The ex-dividend date 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 dividend yield of 1.5%. Carrier Global’s dividend payout ratio is currently 56.14%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. UBS Group decreased their target price on Carrier Global from $73.00 to $70.00 and set a “buy” rating for the company in a research report on Monday, January 5th. JPMorgan Chase & Co. increased their price objective on Carrier Global from $60.00 to $63.00 and gave the stock a “neutral” rating in a report on Friday, January 16th. Barclays lowered their price objective on Carrier Global from $74.00 to $72.00 and set an “overweight” rating for the company in a research report on Wednesday, December 10th. Robert W. Baird upped their target price on shares of Carrier Global from $66.00 to $72.00 and gave the stock an “outperform” rating in a research report on Friday, February 6th. Finally, Argus increased their price target on shares of Carrier Global from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, February 9th. Twelve analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $70.60.

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.