Ethic Inc. Grows Stock Holdings in Carrier Global Corporation $CARR

Key Points

• Ethic Inc. increased its stake in Carrier Global Corporation by 13.1%, acquiring an additional 13,388 shares, bringing its total holdings to 115,562 shares valued at approximately $7.34 million.
• Several hedge funds have recently begun new positions in Carrier Global, with institutional investors now owning 91% of the company's stock.
• Carrier Global reported quarterly earnings of $0.92 per share, surpassing analysts' expectations, and also announced a quarterly dividend of $0.225, yielding 1.4% annually.

Ethic Inc. grew its stake in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 13.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 115,562 shares of the company's stock after purchasing an additional 13,388 shares during the period. Ethic Inc.'s holdings in Carrier Global were worth $7,343,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of CARR. Syon Capital LLC grew its stake in shares of Carrier Global by 2.2% in the fourth quarter. Syon Capital LLC now owns 7,089 shares of the company's stock worth $484,000 after acquiring an additional 155 shares during the period. Lindbrook Capital LLC grew its stake in shares of Carrier Global by 1.3% in the first 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 period. Code Waechter LLC grew its stake in shares of Carrier Global by 5.1% in the first quarter. Code Waechter LLC now owns 3,383 shares of the company's stock worth $214,000 after acquiring an additional 164 shares during the period. Chicago Partners Investment Group LLC grew its stake in shares of Carrier Global by 2.9% in the first quarter. Chicago Partners Investment Group LLC now owns 6,055 shares of the company's stock worth $424,000 after acquiring an additional 168 shares during the period. Finally, Essex Financial Services Inc. grew its position in Carrier Global by 0.4% during the first 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 period. Institutional investors own 91.00% of the company's stock.

Insider Activity at Carrier Global

In other news, Director Maximilian Viessmann sold 4,267,425 shares of the business's stock in a transaction 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 owned 54,341,534 shares of the company's stock, valued at approximately $3,820,209,840.20. The trade was a 7.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 7.20% of the company's stock.

Carrier Global Price Performance

Shares of CARR traded down $0.23 during mid-day trading on Wednesday, reaching $66.75. The stock had a trading volume of 3,193,491 shares, compared to its average volume of 5,257,333. The firm has a market cap of $56.81 billion, a price-to-earnings ratio of 14.56, a PEG ratio of 1.83 and a beta of 1.25. Carrier Global Corporation has a 12 month low of $54.22 and a 12 month high of $83.32. The business has a fifty day moving average of $72.11 and a 200 day moving average of $68.14. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.80 and a current ratio of 1.17.

Carrier Global (NYSE:CARR - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $0.92 earnings per share for the quarter, topping analysts' consensus estimates of $0.90 by $0.02. The business had revenue of $6.11 billion during the quarter, compared to analyst estimates of $6.08 billion. Carrier Global had a net margin of 18.33% and a return on equity of 17.83%. Carrier Global has set its FY 2025 guidance at 3.000-3.100 EPS. Equities analysts predict that Carrier Global Corporation will post 2.99 EPS for the current year.

Carrier Global Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CARR. Robert W. Baird cut their target price on shares of Carrier Global from $85.00 to $84.00 and set an "outperform" rating for the company in a research report on Wednesday, July 30th. Mizuho set a $72.00 target price on shares of Carrier Global in a research report on Tuesday, April 22nd. Wells Fargo & Company boosted their target price on shares of Carrier Global from $65.00 to $75.00 and gave the company an "equal weight" rating in a research report on Monday, May 5th. The Goldman Sachs Group restated a "buy" rating on shares of Carrier Global in a research report on Wednesday, May 21st. Finally, Royal Bank Of Canada cut their target price on shares of Carrier Global from $89.00 to $87.00 and set an "outperform" rating for the company in a research report on Wednesday, July 30th. Ten investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $84.47.

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.