Steward Partners Investment Advisory LLC Raises Stake in Carrier Global Corporation $CARR

Key Points

• Steward Partners Investment Advisory LLC increased its stake in Carrier Global Corporation by 37.6%, bringing its total holdings to 153,065 shares valued at approximately $9.7 million.
• Insider activity noted Director Maximilian Viessmann sold over 4.2 million shares for nearly $300 million, reducing his ownership by 7.28%.
• Carrier Global announced a quarterly dividend of $0.225 per share, with a yield of 1.4% and a payout ratio of 19.61%.

Steward Partners Investment Advisory LLC grew its holdings in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 37.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 153,065 shares of the company's stock after buying an additional 41,795 shares during the quarter. Steward Partners Investment Advisory LLC's holdings in Carrier Global were worth $9,704,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Park Square Financial Group LLC acquired a new position in shares of Carrier Global during the fourth quarter valued at about $28,000. Investment Research & Advisory Group Inc. bought a new position in shares of Carrier Global during the first quarter valued at about $29,000. Mattson Financial Services LLC purchased a new position in Carrier Global during the fourth quarter worth about $31,000. Mascagni Wealth Management Inc. purchased a new position in Carrier Global during the fourth quarter worth about $35,000. Finally, Transce3nd LLC purchased a new position in Carrier Global during the fourth quarter worth about $37,000. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Carrier Global Stock Performance

Shares of CARR traded up $2.68 during trading hours on Friday, hitting $67.69. The company's stock had a trading volume of 5,534,971 shares, compared to its average volume of 5,546,101. The company has a market cap of $57.61 billion, a price-to-earnings ratio of 14.75, a PEG ratio of 1.79 and a beta of 1.25. 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 business has a 50 day simple moving average of $71.78 and a two-hundred day simple moving average of $68.17. Carrier Global Corporation has a 52-week low of $54.22 and a 52-week high of $83.32.

Carrier Global (NYSE:CARR - Get Free Report) last released its quarterly earnings data 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 company had revenue of $6.11 billion during the quarter, compared to analyst estimates of $6.08 billion. Carrier Global has set its FY 2025 guidance at 3.000-3.100 EPS. On average, equities analysts expect that Carrier Global Corporation will post 2.99 earnings per share for the current fiscal year.

Carrier Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 8th. Investors of record on Monday, July 21st were given a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Monday, July 21st. Carrier Global's dividend payout ratio is 19.61%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CARR. Citigroup restated a "buy" rating and set a $89.00 price target (up from $82.00) on shares of Carrier Global in a report on Monday, July 14th. The Goldman Sachs Group restated a "buy" rating on shares of Carrier Global in a report on Wednesday, May 21st. Royal Bank Of Canada decreased their price objective on shares of Carrier Global from $89.00 to $87.00 and set an "outperform" rating for the company in a report on Wednesday, July 30th. Robert W. Baird decreased 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. Finally, JPMorgan Chase & Co. restated a "neutral" rating and set a $79.00 price objective on shares of Carrier Global in a report on Tuesday, July 15th. Ten analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $84.47.

Insider Buying and Selling at Carrier Global

In related news, Director Maximilian Viessmann sold 4,267,425 shares of the company'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 value of $299,999,977.50. Following the transaction, the director directly owned 54,341,534 shares in the company, valued at approximately $3,820,209,840.20. This represents a 7.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 7.20% of the company's stock.

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.