Baird Financial Group Inc. Has $24.38 Million Stake in Carrier Global Corporation $CARR

Key Points

• Baird Financial Group Inc. reduced its stake in Carrier Global Corporation by 1.6% in the first quarter, holding 384,486 shares valued at approximately $24.38 million.
• Carrier Global reported better-than-expected quarterly earnings with an EPS of $0.92, exceeding analysts' estimates, and announced a quarterly dividend of $0.225 per share.
• Analysts have mixed sentiments with Barclays and Royal Bank of Canada recently adjusting target prices, while the company maintains a consensus rating of "Moderate Buy" with an average target price of $84.47.

Baird Financial Group Inc. reduced its position in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 1.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 384,486 shares of the company's stock after selling 6,387 shares during the period. Baird Financial Group Inc.'s holdings in Carrier Global were worth $24,376,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Lindbrook Capital LLC raised its stake in shares of Carrier Global by 1.3% during the first quarter. Lindbrook Capital LLC now owns 12,294 shares of the company's stock worth $779,000 after buying an additional 156 shares during the last quarter. Code Waechter LLC raised its stake in shares of Carrier Global by 5.1% during the first quarter. Code Waechter LLC now owns 3,383 shares of the company's stock worth $214,000 after buying an additional 164 shares during the last quarter. Chicago Partners Investment Group LLC raised its stake in shares of Carrier Global by 2.9% during the first quarter. Chicago Partners Investment Group LLC now owns 6,055 shares of the company's stock worth $424,000 after buying an additional 168 shares during the last quarter. Essex Financial Services Inc. raised its stake in shares of Carrier Global by 0.4% during the first quarter. Essex Financial Services Inc. now owns 41,778 shares of the company's stock worth $2,649,000 after buying an additional 173 shares during the last quarter. Finally, Motco raised its stake in shares of Carrier Global by 22.2% during the first quarter. Motco now owns 975 shares of the company's stock worth $62,000 after buying an additional 177 shares during the last quarter. 91.00% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Melius Research raised shares of Carrier Global to a "hold" rating and set a $90.00 target price for the company in a research note on Tuesday, July 1st. Barclays lowered their target price on shares of Carrier Global from $84.00 to $82.00 and set an "overweight" rating for the company in a research note on Wednesday, July 30th. Royal Bank Of Canada lowered their target price on shares of Carrier Global from $89.00 to $87.00 and set an "outperform" rating for the company in a research note on Wednesday, July 30th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $79.00 target price on shares of Carrier Global in a research note on Tuesday, July 15th. Finally, Robert W. Baird lowered their target price on shares of Carrier Global from $85.00 to $84.00 and set an "outperform" rating for the company in a research note on Wednesday, July 30th. Ten research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $84.47.

Carrier Global Stock Up 3.1%

Shares of Carrier Global stock traded up $1.95 on Friday, hitting $65.49. The company had a trading volume of 5,009,417 shares, compared to its average volume of 5,326,514. The firm has a market capitalization of $55.73 billion, a P/E ratio of 14.27, a P/E/G ratio of 1.72 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. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.17 and a quick ratio of 0.80. The stock has a 50-day moving average of $70.69 and a 200-day moving average of $68.19.

Carrier Global (NYSE:CARR - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.90 by $0.02. Carrier Global had a net margin of 18.33% and a return on equity of 17.83%. The business had revenue of $6.11 billion during the quarter, compared to analysts' expectations of $6.08 billion. Carrier Global has set its FY 2025 guidance at 3.000-3.100 EPS. Research analysts predict that Carrier Global Corporation will post 2.99 earnings per share for the current year.

Carrier Global Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 8th. Investors of record on Monday, July 21st were issued a dividend of $0.225 per share. The ex-dividend date was Monday, July 21st. This represents a $0.90 annualized dividend and a yield of 1.4%. Carrier Global's dividend payout ratio is presently 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.