Carrier Global Corporation $CARR Shares Sold by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company reduced its stake in Carrier Global Corporation by 5.6%, owning approximately 0.05% of the company valued at $29.63 million after selling 27,811 shares.
• Several institutional investors have increased their holdings in Carrier Global, with Brighton Jones LLC boosting its position by 30.3%, indicating strong interest from market participants.
• Carrier Global recently reported earnings of $0.92 EPS, surpassing analysts' expectations of $0.90, driven by a revenue of $6.11 billion in the latest quarter.

The Manufacturers Life Insurance Company lessened its position in Carrier Global Corporation (NYSE:CARR - Free Report) by 5.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 467,396 shares of the company's stock after selling 27,811 shares during the quarter. The Manufacturers Life Insurance Company owned 0.05% of Carrier Global worth $29,634,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Lindbrook Capital LLC lifted its holdings in shares of Carrier Global by 1.3% in the 1st quarter. Lindbrook Capital LLC now owns 12,294 shares of the company's stock worth $779,000 after acquiring an additional 156 shares during the last quarter. Code Waechter LLC increased its stake in Carrier Global by 5.1% in the 1st quarter. Code Waechter LLC now owns 3,383 shares of the company's stock worth $214,000 after buying an additional 164 shares during the period. Chicago Partners Investment Group LLC increased its stake 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 worth $424,000 after buying an additional 168 shares during the period. Essex Financial Services Inc. increased its stake in Carrier Global by 0.4% in the 1st quarter. Essex Financial Services Inc. now owns 41,778 shares of the company's stock worth $2,649,000 after buying an additional 173 shares during the period. Finally, Motco increased its stake in Carrier Global by 22.2% in the 1st quarter. Motco now owns 975 shares of the company's stock worth $62,000 after buying an additional 177 shares during the period. Institutional investors own 91.00% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on CARR shares. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Carrier Global in a research note on Wednesday, May 21st. Royal Bank Of Canada reduced their price target on shares of Carrier Global from $89.00 to $87.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 30th. Morgan Stanley reduced their price target on shares of Carrier Global from $78.00 to $75.00 and set an "equal weight" rating on the stock in a research note on Friday, August 8th. Citigroup reaffirmed a "buy" rating and issued a $89.00 price target (up previously from $82.00) on shares of Carrier Global in a research note on Monday, July 14th. Finally, Robert W. Baird reduced their price target on shares of Carrier Global from $85.00 to $84.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 30th. Ten equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $84.47.

Carrier Global Stock Up 3.1%

NYSE CARR traded up $1.95 during trading on Friday, reaching $65.49. 5,021,790 shares of the company's stock traded hands, compared to its average volume of 4,993,926. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.17 and a quick ratio of 0.80. The firm has a market cap of $55.73 billion, a price-to-earnings ratio of 14.27, a price-to-earnings-growth ratio of 1.75 and a beta of 1.25. The company's 50 day simple moving average is $70.53 and its two-hundred day simple moving average is $68.19. Carrier Global Corporation has a 12-month low of $54.22 and a 12-month high of $83.32.

Carrier Global (NYSE:CARR - Get Free Report) last posted its earnings results on Tuesday, July 29th. The company reported $0.92 EPS for the quarter, beating analysts' consensus estimates of $0.90 by $0.02. Carrier Global had a net margin of 18.33% and a return on equity of 17.83%. The business had revenue of $6.11 billion for 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. As a group, sell-side analysts forecast 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. Stockholders of record on Monday, July 21st were given a $0.225 dividend. The ex-dividend date of this dividend was Monday, July 21st. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.4%. Carrier Global's payout ratio is presently 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.