Caisse DE Depot ET Placement DU Quebec Sells 330,395 Shares of Carrier Global Corporation $CARR

Key Points

• Caisse DE Depot ET Placement DU Quebec reduced its stake in Carrier Global Corporation by 73.8%, selling 330,395 shares to hold 117,313 shares valued at approximately $7.4 million.
• Institutional investors collectively own 91.00% of Carrier Global's shares, with other firms such as Kayne Anderson Rudnick increasing their stakes significantly by up to 808.2%.
• Carrier Global reported $0.92 earnings per share for the last quarter, surpassing analysts' expectations of $0.90, alongside a dividend of $0.225 per share with a yield of 1.3%.

Caisse DE Depot ET Placement DU Quebec trimmed its stake in Carrier Global Corporation (NYSE:CARR - Free Report) by 73.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 117,313 shares of the company's stock after selling 330,395 shares during the period. Caisse DE Depot ET Placement DU Quebec's holdings in Carrier Global were worth $7,438,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Park Square Financial Group LLC acquired a new stake in Carrier Global in the 4th quarter worth $28,000. Accredited Wealth Management LLC acquired a new stake in Carrier Global in the 1st quarter worth $28,000. Mattson Financial Services LLC bought a new position in shares of Carrier Global during the 4th quarter worth about $31,000. Investment Research & Advisory Group Inc. bought a new position in shares of Carrier Global during the 1st quarter worth about $29,000. Finally, Mascagni Wealth Management Inc. bought a new position in shares of Carrier Global during the 4th quarter worth about $35,000. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CARR has been the subject of a number of analyst reports. Melius initiated coverage on shares of Carrier Global in a report on Tuesday, July 1st. They set a "hold" rating and a $90.00 price objective for the company. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Carrier Global in a report on Wednesday, May 21st. Robert W. Baird reduced 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. Wells Fargo & Company raised their price objective on shares of Carrier Global from $65.00 to $75.00 and gave the stock an "equal weight" rating in a report on Monday, May 5th. Finally, Northcoast Research raised shares of Carrier Global from a "neutral" rating to a "buy" rating and set a $85.00 price objective for the company in a report on Friday, May 9th. Ten analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Carrier Global presently has a consensus rating of "Moderate Buy" and an average price target of $84.47.

Insider Transactions at Carrier Global

In related news, Director Maximilian Viessmann sold 4,267,425 shares of the business's stock in a transaction that occurred 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 in the company, valued at approximately $3,820,209,840.20. The trade was a 7.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 7.20% of the company's stock.

Carrier Global Price Performance

CARR stock traded down $0.95 during trading on Monday, hitting $65.23. 6,863,604 shares of the stock traded hands, compared to its average volume of 4,908,165. Carrier Global Corporation has a one year low of $54.22 and a one year high of $83.32. The stock has a market cap of $55.51 billion, a price-to-earnings ratio of 14.21, a P/E/G ratio of 1.79 and a beta of 1.25. The company has a 50 day simple moving average of $71.39 and a 200 day simple moving average of $68.28. The company has a current ratio of 1.17, a quick ratio of 0.80 and a debt-to-equity ratio of 0.76.

Carrier Global (NYSE:CARR - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $0.92 earnings per share 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 analysts' expectations 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. Equities analysts expect that Carrier Global Corporation will post 2.99 EPS for the current fiscal year.

Carrier Global Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a yield of 1.4%. Carrier Global's payout ratio is currently 19.61%.

Carrier Global Company 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.