Carrier Global Corporation $CARR Shares Sold by iA Global Asset Management Inc.

Key Points

• iA Global Asset Management cut its Carrier Global stake by 12.6% in the first quarter, selling 80,000 shares and ending with 555,998 shares valued at about $31.3 million. Institutional investors still own roughly 91% of the company.
• Analysts remain broadly positive on Carrier Global, with several firms raising price targets; the stock currently has a consensus “Moderate Buy” rating and an average target price of $73.25.
• Carrier Global reported better-than-expected quarterly results, with EPS of $0.57 versus estimates of $0.51 and revenue of $5.34 billion versus $5.01 billion expected. The company also declared a quarterly dividend of $0.24 per share, payable August 10.

iA Global Asset Management Inc. decreased its stake in Carrier Global Corporation (NYSE:CARR - Free Report) by 12.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 555,998 shares of the company's stock after selling 80,000 shares during the period. iA Global Asset Management Inc. owned approximately 0.07% of Carrier Global worth $31,308,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Premier Path Wealth Partners LLC purchased a new position in Carrier Global in the 1st quarter worth approximately $251,000. Folger Nolan Fleming Douglas Capital Management Inc. raised its stake in shares of Carrier Global by 53.4% during the first quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 11,333 shares of the company's stock valued at $638,000 after purchasing an additional 3,945 shares during the period. North Star Investment Management Corp. raised its stake in shares of Carrier Global by 5.7% during the first quarter. North Star Investment Management Corp. now owns 16,864 shares of the company's stock valued at $950,000 after purchasing an additional 908 shares during the period. Pinnacle Bancorp Inc. lifted its position in shares of Carrier Global by 92.7% during the first quarter. Pinnacle Bancorp Inc. now owns 1,187 shares of the company's stock worth $67,000 after purchasing an additional 571 shares in the last quarter. Finally, Apollon Wealth Management LLC lifted its position in shares of Carrier Global by 16.4% during the first quarter. Apollon Wealth Management LLC now owns 20,073 shares of the company's stock worth $1,130,000 after purchasing an additional 2,823 shares in the last quarter. Institutional investors and hedge funds own 91.00% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company raised their price target on shares of Carrier Global from $58.00 to $71.00 in a report on Friday, May 1st. Robert W. Baird boosted their price objective on shares of Carrier Global from $70.00 to $75.00 in a report on Friday, May 1st. Royal Bank Of Canada upped their price objective on shares of Carrier Global from $71.00 to $81.00 and gave the company an "outperform" rating in a research report on Friday, May 1st. Citigroup upped their price objective on shares of Carrier Global from $72.00 to $79.00 and gave the company a "buy" rating in a research report on Friday, May 1st. Finally, Wolfe Research raised their target price on Carrier Global from $75.00 to $76.00 and gave the company an "outperform" rating in a research note on Wednesday, April 8th. Twelve investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $73.25.

Carrier Global Trading Down 0.3%

CARR opened at $73.24 on Wednesday. The stock has a market capitalization of $60.83 billion, a PE ratio of 48.19, a P/E/G ratio of 2.95 and a beta of 1.34. The firm's fifty day moving average price is $66.79 and its 200 day moving average price is $61.24. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.05 and a quick ratio of 0.75. Carrier Global Corporation has a 12-month low of $50.24 and a 12-month high of $81.09.

Carrier Global (NYSE:CARR - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.57 EPS for the quarter, beating analysts' consensus estimates of $0.51 by $0.06. The firm had revenue of $5.34 billion for the quarter, compared to the consensus estimate of $5.01 billion. Carrier Global had a net margin of 5.99% and a return on equity of 14.81%. The firm's revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.65 EPS. Carrier Global has set its FY 2026 guidance at 2.800-2.800 EPS. As a group, research analysts expect that Carrier Global Corporation will post 2.78 EPS for the current fiscal year.

Carrier Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Tuesday, July 21st will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Tuesday, July 21st. This represents a $0.96 annualized dividend and a dividend yield of 1.3%. Carrier Global's dividend payout ratio (DPR) is presently 63.16%.

About Carrier Global

Carrier Global Corporation is a leading global provider of heating, ventilation and air conditioning (HVAC), refrigeration, fire and security, and building automation solutions. The company designs, manufactures and sells a broad portfolio of products that includes air conditioners, furnaces, heat pumps, chillers, rooftop units, commercial refrigeration systems, fire and smoke detection and suppression systems, security sensors and access controls, and a range of building controls and analytics software.

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