Gitterman Wealth Management LLC Acquires Shares of 4,617 Carrier Global Corporation $CARR

Key Points

• Gitterman Wealth Management LLC purchased 4,617 shares of Carrier Global Corporation, valued at approximately $293,000, in the first quarter of 2023.
• Director Maximilian Viessmann sold 4.27 million shares for nearly $300 million, reducing his ownership by 7.28% and retaining approximately 54.34 million shares.
• Carrier Global reported $0.92 earnings per share for the last quarter, exceeding expectations and setting its FY 2025 EPS guidance between 3.000-3.100.

Gitterman Wealth Management LLC purchased a new stake in Carrier Global Corporation (NYSE:CARR - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 4,617 shares of the company's stock, valued at approximately $293,000.

Several other large investors have also recently bought and sold shares of the stock. Park Square Financial Group LLC bought a new position in shares of Carrier Global during the fourth quarter worth approximately $28,000. Accredited Wealth Management LLC bought a new position in Carrier Global during the 1st quarter worth $28,000. Investment Research & Advisory Group Inc. bought a new position in Carrier Global during the 1st quarter worth $29,000. Mattson Financial Services LLC acquired a new stake in shares of Carrier Global during the fourth quarter worth $31,000. Finally, Mascagni Wealth Management Inc. bought a new stake in shares of Carrier Global in the fourth quarter valued at about $35,000. 91.00% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on CARR shares. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Carrier Global in a report on Wednesday, May 21st. Wells Fargo & Company increased their target price on shares of Carrier Global from $65.00 to $75.00 and gave the stock an "equal weight" rating in a report on Monday, May 5th. Melius Research raised Carrier Global to a "hold" rating and set a $90.00 price objective on the stock in a report on Tuesday, July 1st. Melius began coverage on shares of Carrier Global in a research report on Tuesday, July 1st. They set a "hold" rating and a $90.00 target price on the stock. Finally, Robert W. Baird reduced their price target on Carrier Global from $85.00 to $84.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 30th. Ten equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $84.47.

Carrier Global Stock Performance

Shares of CARR stock traded down $1.74 during trading hours on Monday, hitting $66.01. 4,914,031 shares of the company were exchanged, compared to its average volume of 5,302,898. Carrier Global Corporation has a 52-week low of $54.22 and a 52-week high of $83.32. The company has a current ratio of 1.17, a quick ratio of 0.80 and a debt-to-equity ratio of 0.76. The firm has a fifty day simple moving average of $71.78 and a 200 day simple moving average of $68.22. The stock has a market capitalization of $56.18 billion, a price-to-earnings ratio of 14.38, a P/E/G ratio of 1.86 and a beta of 1.25.

Carrier Global (NYSE:CARR - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.02. Carrier Global had a return on equity of 17.83% and a net margin of 18.33%.The business had revenue of $6.11 billion during the quarter, compared to analyst estimates of $6.08 billion. Carrier Global has set its FY 2025 guidance at 3.000-3.100 EPS. Research analysts predict that Carrier Global Corporation will post 2.99 earnings per share for the current fiscal year.

Carrier Global Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Monday, July 21st were given a dividend of $0.225 per share. The ex-dividend date was Monday, July 21st. This represents a $0.90 annualized dividend and a dividend yield of 1.4%. Carrier Global's dividend payout ratio is currently 19.61%.

Insider Activity

In other news, Director Maximilian Viessmann sold 4,267,425 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $70.30, for a total value of $299,999,977.50. Following the sale, the director directly owned 54,341,534 shares of the company's stock, valued at approximately $3,820,209,840.20. This represents a 7.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 7.20% of the company's stock.

Carrier Global Profile

Carrier Global Corporation provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies in the United States, Europe, the Asia Pacific, and internationally. It operates through three segments: HVAC, Refrigeration, and Fire & Security.