APG Asset Management N.V. Trims Stake in Carrier Global Corporation $CARR

Key Points

• APG Asset Management N.V. has reduced its stake in Carrier Global Corporation by 3.7%, selling 19,818 shares to hold a total of 510,079 shares worth approximately $29.94 million.
• The company's Director, Maximilian Viessmann, sold over 4.26 million shares for nearly $300 million, decreasing his position by 7.28% but still retains a significant ownership stake valued at about $3.82 billion.
• Carrier Global reported a quarterly earnings per share (EPS) of $0.92, exceeding estimates, with strong revenue of $6.11 billion, and announced a quarterly dividend of $0.225, translating to an annualized yield of 1.3%.

APG Asset Management N.V. trimmed its stake in Carrier Global Corporation (NYSE:CARR - Free Report) by 3.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 510,079 shares of the company's stock after selling 19,818 shares during the period. APG Asset Management N.V. owned 0.06% of Carrier Global worth $29,938,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of CARR. Brighton Jones LLC raised its position in shares of Carrier Global by 30.3% during the 4th quarter. Brighton Jones LLC now owns 7,958 shares of the company's stock valued at $543,000 after purchasing an additional 1,850 shares during the period. Jump Financial LLC bought a new stake in shares of Carrier Global during the 4th quarter valued at $248,000. MGO One Seven LLC raised its position in shares of Carrier Global by 9.7% during the 4th quarter. MGO One Seven LLC now owns 3,008 shares of the company's stock valued at $205,000 after purchasing an additional 267 shares during the period. Coppell Advisory Solutions LLC raised its position in shares of Carrier Global by 33.1% during the 4th quarter. Coppell Advisory Solutions LLC now owns 1,623 shares of the company's stock valued at $111,000 after purchasing an additional 404 shares during the period. Finally, Nebula Research & Development LLC bought a new stake in shares of Carrier Global during the 4th quarter valued at $257,000. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Carrier Global

In other news, Director Maximilian Viessmann sold 4,267,425 shares of the business's stock in a transaction dated 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 sale, the director directly owned 54,341,534 shares in the company, valued at $3,820,209,840.20. The trade was a 7.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 7.20% of the stock is currently owned by company insiders.

Carrier Global Stock Performance

Shares of NYSE CARR opened at $67.69 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.80 and a current ratio of 1.17. The company has a market cap of $57.61 billion, a P/E ratio of 14.75, a P/E/G ratio of 1.86 and a beta of 1.25. The firm's fifty day moving average is $71.78 and its two-hundred day moving average is $68.20. Carrier Global Corporation has a 52-week low of $54.22 and a 52-week high of $83.32.

Carrier Global (NYSE:CARR - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.90 by $0.02. The company had revenue of $6.11 billion for 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. As a group, analysts anticipate that Carrier Global Corporation will post 2.99 EPS for the current fiscal year.

Carrier Global Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Monday, July 21st were issued a $0.225 dividend. The ex-dividend date was Monday, July 21st. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.3%. Carrier Global's payout ratio is 19.61%.

Analyst Ratings Changes

CARR has been the topic of several recent analyst reports. Northcoast Research upgraded shares of Carrier Global from a "neutral" rating to a "buy" rating and set a $85.00 price objective on the stock in a research report on Friday, May 9th. Royal Bank Of Canada decreased their price objective on shares of Carrier Global from $89.00 to $87.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 30th. The Goldman Sachs Group restated a "buy" rating on shares of Carrier Global in a research report on Wednesday, May 21st. Wells Fargo & Company raised their price objective on shares of Carrier Global from $65.00 to $75.00 and gave the company an "equal weight" rating in a research report on Monday, May 5th. Finally, Melius started coverage on shares of Carrier Global in a report on Tuesday, July 1st. They issued a "hold" rating and a $90.00 price target on the stock. Ten investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $84.47.

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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