Carrier Global Corporation $CARR Shares Sold by BI Asset Management Fondsmaeglerselskab A S

Key Points

• BI Asset Management Fondsmaeglerselskab A S reduced its holdings in Carrier Global Corporation by 38.7%, ending up with 30,720 shares after selling 19,367 shares in the first quarter.
• Carrier Global's stock has received mixed reactions from analysts, with Morgan Stanley lowering its price target from $78.00 to $75.00, while Citigroup raised its target from $82.00 to $89.00.
• Carrier Global recently disclosed a quarterly dividend of $0.225 per share, representing an annual yield of 1.4% and a payout ratio of 19.61%.

BI Asset Management Fondsmaeglerselskab A S cut its holdings in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 38.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 30,720 shares of the company's stock after selling 19,367 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Carrier Global were worth $1,948,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CARR. Nuveen LLC bought a new position in shares of Carrier Global during the first quarter valued at approximately $649,512,000. JPMorgan Chase & Co. lifted 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 valued at $1,973,444,000 after acquiring an additional 4,668,929 shares during the last quarter. Brown Advisory Inc. lifted its position in Carrier Global by 82.6% during the first 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 last quarter. Northern Trust Corp lifted its position in Carrier Global by 16.7% during the fourth quarter. Northern Trust Corp now owns 8,847,377 shares of the company's stock valued at $603,922,000 after acquiring an additional 1,266,137 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its position in Carrier Global by 2,484.0% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,122,545 shares of the company's stock valued at $76,625,000 after acquiring an additional 1,079,103 shares during the last quarter. 91.00% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CARR has been the subject of a number of analyst reports. Melius Research raised shares of Carrier Global to a "hold" rating and set a $90.00 target price for the company in a research report on Tuesday, July 1st. JPMorgan Chase & Co. reissued a "neutral" rating and set a $79.00 target price on shares of Carrier Global in a research report on Tuesday, July 15th. Robert W. Baird decreased 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 report on Wednesday, July 30th. Melius initiated coverage on shares of Carrier Global in a research report on Tuesday, July 1st. They set a "hold" rating and a $90.00 target price for the company. Finally, Citigroup reissued a "buy" rating and set a $89.00 target price (up previously from $82.00) on shares of Carrier Global in a research report on Monday, July 14th. Ten equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Carrier Global has a consensus rating of "Moderate Buy" and a consensus target price of $84.47.

Carrier Global Stock Performance

Shares of Carrier Global stock traded down $1.74 during trading on Monday, hitting $66.01. 4,914,031 shares of the company's stock were exchanged, compared to its average volume of 5,302,898. 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 business has a 50-day simple moving average of $71.78 and a 200-day simple moving average of $68.22. Carrier Global Corporation has a 52-week low of $54.22 and a 52-week high of $83.32. The stock has a market capitalization of $56.18 billion, a price-to-earnings ratio of 14.38, a PEG ratio of 1.86 and a beta of 1.25.

Carrier Global (NYSE:CARR - Get Free Report) last issued its earnings results on Tuesday, July 29th. The company reported $0.92 earnings per share (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 firm 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. On average, research analysts forecast that Carrier Global Corporation will post 2.99 EPS for the current year.

Carrier Global Announces Dividend

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. 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 (DPR) is 19.61%.

Insider Activity

In related news, Director Maximilian Viessmann sold 4,267,425 shares of the firm'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 completion of the transaction, the director owned 54,341,534 shares of the company's stock, valued at $3,820,209,840.20. This trade represents a 7.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 7.20% of the stock is currently owned by company insiders.

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.