Brasada Capital Management LP Sells 13,924 Shares of Carrier Global Corporation $CARR

Key Points

• Brasada Capital Management LP reduced its position in Carrier Global Corporation by 22.4%, now holding 48,363 shares worth approximately $3.07 million.
• Several institutional investors increased their stakes in Carrier Global, with the Canada Pension Plan Investment Board notably boosting its position by 350.5%.
• Carrier Global recently announced a $0.225 quarterly dividend, which translates to a 1.4% yield, and reported better-than-expected earnings results for the last quarter.

Brasada Capital Management LP lessened its position in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 22.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 48,363 shares of the company's stock after selling 13,924 shares during the period. Brasada Capital Management LP's holdings in Carrier Global were worth $3,066,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. raised its holdings in Carrier Global by 17.6% during the 1st quarter. JPMorgan Chase & Co. now owns 31,126,869 shares of the company's stock valued at $1,973,444,000 after acquiring an additional 4,668,929 shares during the period. Nuveen LLC bought a new stake in Carrier Global during the 1st quarter valued at $649,512,000. Brown Advisory Inc. raised its holdings in Carrier Global by 82.6% during the 1st quarter. Brown Advisory Inc. now owns 9,673,979 shares of the company's stock valued at $613,330,000 after acquiring an additional 4,377,402 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Carrier Global by 15.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,930,061 shares of the company's stock valued at $473,046,000 after acquiring an additional 936,892 shares during the period. Finally, Invesco Ltd. raised its holdings in Carrier Global by 2.1% during the 1st quarter. Invesco Ltd. now owns 5,165,203 shares of the company's stock valued at $327,474,000 after acquiring an additional 108,055 shares during the period. Hedge funds and other institutional investors own 91.00% of the company's stock.

Analysts Set New Price Targets

CARR has been the subject of several recent analyst reports. Wells Fargo & Company boosted 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 note on Monday, May 5th. Melius Research raised shares of Carrier Global to a "hold" rating and set a $90.00 price objective for the company in a research note on Tuesday, July 1st. Melius initiated coverage on shares of Carrier Global in a research note on Tuesday, July 1st. They set a "hold" rating and a $90.00 price objective for the company. Morgan Stanley reduced 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 research note on Friday, August 8th. Finally, Barclays dropped their price target on Carrier Global from $84.00 to $82.00 and set an "overweight" rating for the company in a research report on Wednesday, July 30th. 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 stock has a consensus rating of "Moderate Buy" and an average target price of $84.47.

Insider Activity at Carrier Global

In other news, Director Maximilian Viessmann sold 4,267,425 shares of the business's stock in a transaction on Thursday, June 5th. The shares were 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 in the company, valued at approximately $3,820,209,840.20. The trade was a 7.28% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 7.20% of the company's stock.

Carrier Global Trading Down 2.9%

Shares of CARR stock traded down $1.87 on Tuesday, hitting $63.33. 6,414,682 shares of the company's stock traded hands, compared to its average volume of 4,666,465. The stock has a market capitalization of $53.90 billion, a price-to-earnings ratio of 22.18, a P/E/G ratio of 1.79 and a beta of 1.25. Carrier Global Corporation has a one year low of $54.22 and a one year high of $83.32. 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's fifty day simple moving average is $71.26 and its 200 day simple moving average is $68.28.

Carrier Global (NYSE:CARR - Get Free Report) last released its quarterly earnings data 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. The firm had revenue of $6.11 billion during the quarter, compared to analyst estimates of $6.08 billion. Carrier Global had a return on equity of 17.83% and a net margin of 18.33%. Carrier Global has set its FY 2025 guidance at 3.000-3.100 EPS. Equities 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. Investors of record on Monday, July 21st were given a dividend of $0.225 per share. The ex-dividend date was Monday, July 21st. This represents a $0.90 annualized dividend and a dividend yield of 1.4%. Carrier Global's payout ratio is currently 19.61%.

Carrier Global 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.