Carrier Global Corporation $CARR Shares Sold by Lifeworks Advisors LLC

Key Points

• Lifeworks Advisors LLC cut its Carrier Global stake by 64.1% in the first quarter, selling 49,321 shares and leaving it with 27,563 shares valued at about $1.55 million.
• Carrier Global reported better-than-expected Q1 results, with EPS of $0.57 versus $0.51 expected and revenue of $5.34 billion versus $5.01 billion estimated.
• The company also declared a quarterly dividend of $0.24 per share, while analysts currently rate the stock Moderate Buy with a consensus price target of $73.46.

Lifeworks Advisors LLC decreased its position in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 64.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,563 shares of the company's stock after selling 49,321 shares during the period. Lifeworks Advisors LLC's holdings in Carrier Global were worth $1,552,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Carrier Global in the 4th quarter worth $380,299,000. Ameriprise Financial Inc. boosted its stake in Carrier Global by 506.1% during the third quarter. Ameriprise Financial Inc. now owns 4,187,219 shares of the company's stock valued at $249,977,000 after buying an additional 3,496,372 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in Carrier Global by 461.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,460,321 shares of the company's stock worth $130,003,000 after acquiring an additional 2,022,136 shares during the period. Ontario Teachers Pension Plan Board acquired a new position in Carrier Global during the fourth quarter worth about $99,839,000. Finally, PineStone Asset Management Inc. lifted its holdings in Carrier Global by 34.6% in the 4th quarter. PineStone Asset Management Inc. now owns 7,153,429 shares of the company's stock valued at $377,987,000 after acquiring an additional 1,837,985 shares during the last quarter. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Carrier Global Price Performance

CARR opened at $69.41 on Monday. The stock has a fifty day moving average of $68.04 and a 200-day moving average of $62.15. The firm has a market capitalization of $57.65 billion, a P/E ratio of 45.67, a PEG ratio of 2.78 and a beta of 1.31. Carrier Global Corporation has a 12-month low of $50.24 and a 12-month high of $81.09. The company has a quick ratio of 0.75, a current ratio of 1.05 and a debt-to-equity ratio of 0.76.

Carrier Global (NYSE:CARR - Get Free Report) last issued its earnings results on Thursday, April 30th. The company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.51 by $0.06. The business had revenue of $5.34 billion during the quarter, compared to analysts' expectations of $5.01 billion. Carrier Global had a return on equity of 14.81% and a net margin of 5.99%.Carrier Global's revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.65 earnings per share. Carrier Global has set its FY 2026 guidance at 2.800-2.800 EPS. Equities analysts forecast that Carrier Global Corporation will post 2.79 EPS for the current fiscal year.

Carrier Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, July 21st will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, July 21st. Carrier Global's payout ratio is 63.16%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CARR. Barclays lifted their price objective on shares of Carrier Global from $67.00 to $79.00 and gave the stock an "overweight" rating in a research note on Friday, May 1st. JPMorgan Chase & Co. lifted their price target on shares of Carrier Global from $63.00 to $67.00 and gave the stock a "neutral" rating in a research report on Thursday, May 14th. Morgan Stanley increased their price objective on Carrier Global from $55.00 to $60.00 and gave the company an "equal weight" rating in a research report on Thursday, May 28th. Rothschild & Co Redburn raised their price objective on Carrier Global from $61.00 to $73.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 5th. Finally, Citigroup lifted their target price on Carrier Global from $72.00 to $79.00 and gave the stock a "buy" rating in a report on Friday, May 1st. Twelve investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $73.46.

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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