AIA Group Ltd Has $11.82 Million Holdings in Carrier Global Corporation (NYSE:CARR)

Key Points

• AIA Group Ltd increased its stake in Carrier Global Corporation by 9.3%, acquiring an additional 15,835 shares, bringing its total holdings to 186,373 shares valued at approximately $11.8 million.
• Director Maximilian Viessmann sold over 4.2 million shares of Carrier Global stock, reducing his ownership by 7.28%, while retaining approximately 54.3 million shares.
• Carrier Global has a market capitalization of $56.21 billion and recently reported quarterly earnings per share (EPS) of $0.92, exceeding analyst expectations.

AIA Group Ltd grew its position in Carrier Global Corporation (NYSE:CARR - Free Report) by 9.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 186,373 shares of the company's stock after acquiring an additional 15,835 shares during the quarter. AIA Group Ltd's holdings in Carrier Global were worth $11,816,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in CARR. Park Square Financial Group LLC bought a new position in Carrier Global during the 4th quarter worth $28,000. Investment Research & Advisory Group Inc. acquired a new stake in shares of Carrier Global in the first quarter valued at $29,000. Mattson Financial Services LLC acquired a new stake in shares of Carrier Global in the fourth quarter valued at $31,000. Mascagni Wealth Management Inc. acquired a new stake in shares of Carrier Global in the fourth quarter valued at $35,000. Finally, Transce3nd LLC purchased a new stake in shares of Carrier Global during the fourth quarter valued at $37,000. 91.00% of the stock is currently owned by institutional investors.

Insider Activity

In other Carrier Global news, Director Maximilian Viessmann sold 4,267,425 shares of Carrier Global stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $70.30, for a total transaction of $299,999,977.50. Following the transaction, the director directly owned 54,341,534 shares in the company, valued at approximately $3,820,209,840.20. The trade was a 7.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 7.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

CARR has been the subject of several analyst reports. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Carrier Global in a report on Wednesday, May 21st. Robert W. Baird dropped their target price 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. Citigroup reaffirmed a "buy" rating and issued a $89.00 target price (up from $82.00) on shares of Carrier Global in a research report on Monday, July 14th. Wells Fargo & Company increased their price objective on Carrier Global from $65.00 to $75.00 and gave the company an "equal weight" rating in a report on Monday, May 5th. Finally, Mizuho set a $72.00 price objective on Carrier Global in a report on Tuesday, April 22nd. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $84.47.

Carrier Global Stock Performance

Shares of CARR stock traded up $1.37 during mid-day trading on Wednesday, reaching $67.10. The stock had a trading volume of 3,761,039 shares, compared to its average volume of 5,244,721. Carrier Global Corporation has a one year low of $54.22 and a one year high of $83.32. The company has a quick ratio of 0.80, a current ratio of 1.17 and a debt-to-equity ratio of 0.76. The firm's 50 day simple moving average is $72.54 and its 200 day simple moving average is $68.13. The firm has a market cap of $57.10 billion, a PE ratio of 14.62, a P/E/G ratio of 1.81 and a beta of 1.25.

Carrier Global (NYSE:CARR - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The company reported $0.92 earnings per share for the quarter, beating analysts' consensus estimates of $0.90 by $0.02. Carrier Global had a return on equity of 17.83% and a net margin of 18.33%. The firm had revenue of $6.11 billion during the quarter, compared to analysts' expectations of $6.08 billion. 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. Stockholders of record on Monday, July 21st were given a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Monday, July 21st. Carrier Global's dividend payout ratio (DPR) is currently 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.