Amundi Trims Stake in Carrier Global Corporation $CARR

Key Points

• Amundi significantly reduced its stake in Carrier Global Corporation by 37.8%, selling over 1.4 million shares and holding approximately 2.31 million shares worth $140 million by the end of the first quarter.
• Other institutional investors, such as Golden State Wealth Management and Bessemer Group, have increased their holdings in Carrier Global, reflecting a mixture of investor behavior regarding the company's stock.
• Carrier Global's stock currently has an average rating of "Moderate Buy" with a target price of $84.47 as several analysts have recently adjusted their price objectives for the company.

Amundi reduced its position in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 37.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,310,202 shares of the company's stock after selling 1,401,063 shares during the period. Amundi owned approximately 0.27% of Carrier Global worth $140,276,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Golden State Wealth Management LLC lifted its holdings in shares of Carrier Global by 51.8% during the 1st quarter. Golden State Wealth Management LLC now owns 1,389 shares of the company's stock worth $88,000 after acquiring an additional 474 shares during the last quarter. Bessemer Group Inc. lifted its holdings in shares of Carrier Global by 15.7% during the 1st quarter. Bessemer Group Inc. now owns 28,768 shares of the company's stock worth $1,823,000 after acquiring an additional 3,900 shares during the last quarter. Ensign Peak Advisors Inc lifted its holdings in shares of Carrier Global by 27.8% during the 4th quarter. Ensign Peak Advisors Inc now owns 1,314,180 shares of the company's stock worth $89,706,000 after acquiring an additional 285,803 shares during the last quarter. Sowell Financial Services LLC bought a new stake in shares of Carrier Global during the 1st quarter worth $234,000. Finally, Aberdeen Group plc lifted its holdings in shares of Carrier Global by 1.8% during the 1st quarter. Aberdeen Group plc now owns 717,658 shares of the company's stock worth $44,854,000 after acquiring an additional 12,346 shares during the last quarter. 91.00% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Robert W. Baird dropped their price objective on shares of Carrier Global from $85.00 to $84.00 and set an "outperform" rating for the company in a report on Wednesday, July 30th. Barclays dropped their price objective on shares of Carrier Global from $84.00 to $82.00 and set an "overweight" rating for the company in a report on Wednesday, July 30th. Morgan Stanley dropped their price objective on shares of Carrier Global from $78.00 to $75.00 and set an "equal weight" rating for the company in a report on Friday, August 8th. Melius started coverage on shares of Carrier Global in a research note on Tuesday, July 1st. They issued a "hold" rating and a $90.00 price target for the company. Finally, Northcoast Research raised shares of Carrier Global from a "neutral" rating to a "buy" rating and set a $85.00 price target for the company in a research note on Friday, May 9th. Ten research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, Carrier Global currently has an average rating of "Moderate Buy" and an average target price of $84.47.

Carrier Global Stock Performance

Carrier Global stock opened at $65.49 on Friday. 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 capitalization of $55.73 billion, a PE ratio of 14.27, a P/E/G ratio of 1.75 and a beta of 1.25. The firm has a fifty day simple moving average of $70.53 and a two-hundred day simple moving average of $68.19. 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 issued its quarterly earnings data on Tuesday, July 29th. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.90 by $0.02. The firm had revenue of $6.11 billion during the quarter, compared to the consensus estimate of $6.08 billion. Carrier Global had a net margin of 18.33% and a return on equity of 17.83%. Carrier Global has set its FY 2025 guidance at 3.000-3.100 EPS. Research analysts expect that Carrier Global Corporation will post 2.99 EPS for the current year.

Carrier Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Monday, July 21st were paid a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Monday, July 21st. 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.

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