MetLife Investment Management LLC Lowers Position in Carrier Global Corporation $CARR

Key Points

• MetLife Investment Management LLC has reduced its stake in Carrier Global Corporation by 4.8%, selling 10,622 shares, and now holds 210,311 shares valued at approximately $13.33 million.
• Carrier Global Corporation's recent earnings report showed an EPS of $0.92, exceeding analysts' expectations, and it has set FY 2025 guidance at 3.000-3.100 EPS.
• The company announced a quarterly dividend of $0.225 per share, representing an annualized payout of $0.90, with a current yield of 1.4%.

MetLife Investment Management LLC trimmed its position in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 4.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 210,311 shares of the company's stock after selling 10,622 shares during the quarter. MetLife Investment Management LLC's holdings in Carrier Global were worth $13,334,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of CARR. Lindbrook Capital LLC raised its position in Carrier Global by 1.3% in the 1st quarter. Lindbrook Capital LLC now owns 12,294 shares of the company's stock valued at $779,000 after buying an additional 156 shares during the last quarter. Code Waechter LLC raised its position in Carrier Global by 5.1% in the 1st quarter. Code Waechter LLC now owns 3,383 shares of the company's stock valued at $214,000 after buying an additional 164 shares during the last quarter. Chicago Partners Investment Group LLC raised its position in Carrier Global by 2.9% in the 1st quarter. Chicago Partners Investment Group LLC now owns 6,055 shares of the company's stock valued at $424,000 after buying an additional 168 shares during the last quarter. Essex Financial Services Inc. raised its position in Carrier Global by 0.4% in the 1st quarter. Essex Financial Services Inc. now owns 41,778 shares of the company's stock valued at $2,649,000 after buying an additional 173 shares during the last quarter. Finally, Motco raised its position in Carrier Global by 22.2% in the 1st quarter. Motco now owns 975 shares of the company's stock valued at $62,000 after buying an additional 177 shares during the last quarter. 91.00% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Carrier Global news, Director Maximilian Viessmann sold 4,267,425 shares of the firm's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $70.30, for a total value of $299,999,977.50. Following the completion of the transaction, the director owned 54,341,534 shares in the company, valued at $3,820,209,840.20. This trade represents a 7.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 7.20% of the stock is currently owned by corporate insiders.

Carrier Global Price Performance

NYSE CARR traded down $1.39 during trading hours on Thursday, hitting $66.21. The company had a trading volume of 3,615,230 shares, compared to its average volume of 5,038,857. Carrier Global Corporation has a 52 week low of $54.22 and a 52 week high of $83.32. The firm has a 50 day simple moving average of $71.50 and a 200 day simple moving average of $68.22. 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 firm has a market capitalization of $56.34 billion, a price-to-earnings ratio of 14.42, 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 EPS for the quarter, topping the consensus estimate of $0.90 by $0.02. Carrier Global had a return on equity of 17.83% and a net margin of 18.33%.The business had revenue of $6.11 billion during the quarter, compared to the consensus estimate of $6.08 billion. Carrier Global has set its FY 2025 guidance at 3.000-3.100 EPS. Equities research analysts expect that Carrier Global Corporation will post 2.99 earnings per share for the current year.

Carrier Global Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Monday, July 21st were paid a $0.225 dividend. 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 (DPR) is currently 19.61%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CARR. Melius began coverage on Carrier Global in a research report on Tuesday, July 1st. They issued a "hold" rating and a $90.00 price target for the company. Citigroup reissued a "buy" rating and issued a $89.00 price target (up from $82.00) on shares of Carrier Global in a research report on Monday, July 14th. Royal Bank Of Canada lowered their price target on Carrier Global from $89.00 to $87.00 and set an "outperform" rating for the company in a research report on Wednesday, July 30th. Barclays lowered their price target on Carrier Global from $84.00 to $82.00 and set an "overweight" rating for the company in a research report on Wednesday, July 30th. Finally, Melius Research upgraded Carrier Global to a "hold" rating and set a $90.00 price objective for the company in a research note on Tuesday, July 1st. Ten equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $84.47.

About Carrier Global

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.