AIA Group Ltd Sells 41,168 Shares of Carrier Global Corporation $CARR

Key Points

• AIA Group Ltd cut its Carrier Global stake by 37.3% in the first quarter, selling 41,168 shares and leaving it with 69,221 shares valued at about $3.9 million.
• Carrier Global reported strong quarterly results, with EPS of $0.57 beating estimates of $0.51 and revenue of $5.34 billion topping forecasts, while revenue rose 2.4% year over year.
• The company declared a quarterly dividend of $0.24 per share, and analysts remain cautiously upbeat with a consensus Moderate Buy rating and an average price target of $73.51.

AIA Group Ltd lowered its stake in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 37.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 69,221 shares of the company's stock after selling 41,168 shares during the period. AIA Group Ltd's holdings in Carrier Global were worth $3,898,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of CARR. Norges Bank bought a new position in shares of Carrier Global in the fourth quarter valued at about $380,299,000. Assenagon Asset Management S.A. boosted its stake in shares of Carrier Global by 461.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,460,321 shares of the company's stock valued at $130,003,000 after buying an additional 2,022,136 shares during the period. Ontario Teachers Pension Plan Board bought a new stake in shares of Carrier Global during the 4th quarter valued at $99,839,000. PineStone Asset Management Inc. grew its stake in Carrier Global by 34.6% during the fourth quarter. PineStone Asset Management Inc. now owns 7,153,429 shares of the company's stock worth $377,987,000 after buying an additional 1,837,985 shares in the last quarter. Finally, Voloridge Investment Management LLC boosted its position in shares of Carrier Global by 865.3% during the 4th quarter. Voloridge Investment Management LLC now owns 1,974,350 shares of the company's stock worth $104,325,000 after acquiring an additional 1,769,813 shares in the last quarter. 91.00% of the stock is owned by institutional investors.

Carrier Global Stock Performance

NYSE:CARR opened at $68.71 on Monday. The company has a quick ratio of 0.75, a current ratio of 1.05 and a debt-to-equity ratio of 0.76. Carrier Global Corporation has a twelve month low of $50.24 and a twelve month high of $81.09. The company has a fifty day moving average of $68.27 and a 200-day moving average of $62.70. The firm has a market capitalization of $57.07 billion, a P/E ratio of 45.20, a P/E/G ratio of 2.75 and a beta of 1.31.

Carrier Global (NYSE:CARR - Get Free Report) last issued its earnings results on Thursday, April 30th. The company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.06. The business had revenue of $5.34 billion for the quarter, compared to analyst estimates of $5.01 billion. Carrier Global had a net margin of 5.99% and a return on equity of 14.81%. Carrier Global's revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.65 earnings per share. 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 2.79 EPS for the current year.

Carrier Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, July 21st will be issued a $0.24 dividend. The ex-dividend date is Tuesday, July 21st. This represents a $0.96 annualized dividend and a yield of 1.4%. Carrier Global's dividend payout ratio is presently 63.16%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on CARR shares. Evercore raised their price objective on Carrier Global from $75.00 to $85.00 in a research note on Friday, May 1st. The Goldman Sachs Group lifted their target price on Carrier Global from $74.00 to $80.00 in a report on Friday, May 1st. JPMorgan Chase & Co. raised their price objective on Carrier Global from $63.00 to $67.00 and gave the stock a "neutral" rating in a research report on Thursday, May 14th. Argus upped their target price on Carrier Global from $72.00 to $75.00 and gave the company a "buy" rating in a report on Tuesday, May 5th. Finally, Royal Bank Of Canada increased their target price on shares of Carrier Global from $71.00 to $81.00 and gave the company an "outperform" rating in a research report on Friday, May 1st. Twelve analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $73.51.

About Carrier Global

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.