Aberdeen Group plc Has $44.85 Million Stake in Carrier Global Corporation $CARR

Key Points

• Aberdeen Group plc increased its stake in Carrier Global Corporation by 1.8% in Q1, now owning 717,658 shares valued at approximately $44.85 million.
• Recent insider activity saw Director Maximilian Viessmann sell over 4.26 million shares for nearly $300 million, reducing his ownership by 7.28%.
• Carrier Global has a current average analyst rating of "Moderate Buy" with a target price averaging $84.47, and recently declared a quarterly dividend of $0.225.

Aberdeen Group plc raised its position in Carrier Global Corporation (NYSE:CARR - Free Report) by 1.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 717,658 shares of the company's stock after buying an additional 12,346 shares during the quarter. Aberdeen Group plc owned approximately 0.08% of Carrier Global worth $44,854,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the business. Dimensional Fund Advisors LP increased its stake in Carrier Global by 6.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,028,949 shares of the company's stock valued at $318,787,000 after buying an additional 292,801 shares during the period. Fox Run Management L.L.C. purchased a new stake in shares of Carrier Global in the first quarter valued at approximately $1,472,000. Kovitz Investment Group Partners LLC grew its holdings in Carrier Global by 9.2% during the first quarter. Kovitz Investment Group Partners LLC now owns 36,905 shares of the company's stock worth $2,340,000 after acquiring an additional 3,094 shares during the period. Vestmark Advisory Solutions Inc. purchased a new position in Carrier Global in the first quarter worth $414,000. Finally, Tokio Marine Asset Management Co. Ltd. raised its position in Carrier Global by 2.2% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 25,850 shares of the company's stock worth $1,639,000 after acquiring an additional 546 shares in the last quarter. 91.00% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Carrier Global

In related news, Director Maximilian Viessmann sold 4,267,425 shares of the stock in a transaction that occurred on 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 transaction, the director directly owned 54,341,534 shares in the company, valued at $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 is available at the SEC website. 7.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on CARR. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $79.00 target price on shares of Carrier Global in a report on Tuesday, July 15th. Melius Research raised shares of Carrier Global to a "hold" rating and set a $90.00 target price on the stock in a report on Tuesday, July 1st. The Goldman Sachs Group reiterated a "buy" rating on shares of Carrier Global in a research report on Wednesday, May 21st. Citigroup restated a "buy" rating and set a $89.00 target price (up from $82.00) on shares of Carrier Global in a report on Monday, July 14th. Finally, Morgan Stanley dropped their target price on shares of Carrier Global from $78.00 to $75.00 and set an "equal weight" rating on the stock in a research report on Friday, August 8th. Ten analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, Carrier Global has a consensus rating of "Moderate Buy" and an average target price of $84.47.

Carrier Global Stock Performance

NYSE:CARR traded down $1.64 during trading hours on Thursday, hitting $65.20. 4,019,656 shares of the company traded hands, compared to its average volume of 5,261,794. Carrier Global Corporation has a twelve month low of $54.22 and a twelve month high of $83.32. The stock has a market capitalization of $55.49 billion, a price-to-earnings ratio of 14.20, a P/E/G ratio of 1.84 and a beta of 1.25. The firm has a 50-day moving average of $72.00 and a 200 day moving average of $68.13. The company has a current ratio of 1.17, a quick ratio of 0.80 and a debt-to-equity ratio of 0.76.

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

Carrier Global Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 8th. Investors 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 yield of 1.4%. Carrier Global's dividend payout ratio is 19.61%.

About Carrier Global

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.