Carrier Global Corporation (NYSE:CARR) Shares Sold by Aigen Investment Management LP

Key Points

• Aigen Investment Management LP significantly reduced its holdings in Carrier Global Corporation by 69.1%, owning only 9,865 shares after selling 22,048 shares in the first quarter.
• Insider trading was notable, with Director Maximilian Viessmann selling over 4.2 million shares for approximately $300 million, reducing their ownership stake by 7.28%.
• Carrier Global's recent earnings report indicated a profit of $0.92 EPS, exceeding analyst expectations, and they declared a $0.225 quarterly dividend.

Aigen Investment Management LP lessened its holdings in Carrier Global Corporation (NYSE:CARR - Free Report) by 69.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,865 shares of the company's stock after selling 22,048 shares during the period. Aigen Investment Management LP's holdings in Carrier Global were worth $625,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Cooper Financial Group boosted its holdings in Carrier Global by 11.2% in the first quarter. Cooper Financial Group now owns 3,961 shares of the company's stock valued at $251,000 after acquiring an additional 400 shares during the last quarter. Invesco Ltd. grew its stake in shares of Carrier Global by 2.1% in the 1st quarter. Invesco Ltd. now owns 5,165,203 shares of the company's stock worth $327,474,000 after acquiring an additional 108,055 shares in the last quarter. Benjamin Edwards Inc. increased its position in shares of Carrier Global by 0.7% during the 1st quarter. Benjamin Edwards Inc. now owns 61,984 shares of the company's stock valued at $3,930,000 after purchasing an additional 430 shares during the last quarter. Covestor Ltd lifted its holdings in Carrier Global by 27.1% during the first quarter. Covestor Ltd now owns 1,764 shares of the company's stock valued at $112,000 after purchasing an additional 376 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Carrier Global by 17.6% during the first quarter. JPMorgan Chase & Co. now owns 31,126,869 shares of the company's stock worth $1,973,444,000 after purchasing an additional 4,668,929 shares during the period. 91.00% of the stock is currently owned by institutional investors.

Insider Transactions at Carrier Global

In other news, Director Maximilian Viessmann sold 4,267,425 shares of Carrier Global stock in a transaction that occurred on 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 sale, the director owned 54,341,534 shares of the company's stock, 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 filing with the SEC, which is accessible through the SEC website. 7.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on CARR shares. Mizuho set a $72.00 price objective on Carrier Global in a report on Tuesday, April 22nd. Royal Bank Of Canada decreased their price target on Carrier Global from $89.00 to $87.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 30th. Robert W. Baird decreased their price target on Carrier Global from $85.00 to $84.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 30th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $79.00 price target on shares of Carrier Global in a research note on Tuesday, July 15th. Finally, Wells Fargo & Company boosted their target price on Carrier Global from $65.00 to $75.00 and gave the company an "equal weight" rating in a research note on Monday, May 5th. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Carrier Global has an average rating of "Moderate Buy" and an average target price of $84.47.

Carrier Global Stock Down 0.5%

Shares of Carrier Global stock traded down $0.32 during trading hours on Friday, hitting $65.44. 2,968,204 shares of the company's stock traded hands, compared to its average volume of 5,259,797. The stock has a 50 day simple moving average of $72.32 and a 200-day simple moving average of $68.11. 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 company has a market cap of $55.69 billion, a PE ratio of 14.26, a PEG ratio of 1.81 and a beta of 1.25. Carrier Global Corporation has a twelve month low of $54.22 and a twelve month high of $83.32.

Carrier Global (NYSE:CARR - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $0.92 EPS for the quarter, topping analysts' consensus estimates of $0.90 by $0.02. The business had revenue of $6.11 billion during the quarter, compared to the consensus estimate of $6.08 billion. Carrier Global had a return on equity of 17.83% and a net margin of 18.33%. Equities research analysts anticipate that Carrier Global Corporation will post 2.99 earnings per share for the current fiscal year.

Carrier Global Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Monday, July 21st were issued a $0.225 dividend. The ex-dividend date of this dividend was Monday, July 21st. This represents a $0.90 dividend on an annualized basis and a yield of 1.4%. Carrier Global's dividend payout ratio (DPR) is currently 19.61%.

Carrier Global Company 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.