Carrier Global Corporation (NYSE:CARR) Stock Position Lowered by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. reduced its stake in Carrier Global Corporation by 2.5%, now holding approximately 10.84% of the company, valued at nearly $5.89 billion.
• Corporate insiders, specifically Director Maximilian Viessmann, sold over 4 million shares, resulting in a 7.28% decrease in ownership.
• Analysts have mixed views on Carrier Global with a consensus rating of "Moderate Buy" and a target price averaging $84.47, while the company reported a profitable quarter with earnings per share exceeding estimates.

Vanguard Group Inc. lessened its position in Carrier Global Corporation (NYSE:CARR - Free Report) by 2.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 92,922,549 shares of the company's stock after selling 2,390,445 shares during the period. Vanguard Group Inc. owned approximately 10.84% of Carrier Global worth $5,891,290,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Brown Advisory Inc. grew its holdings in shares of Carrier Global by 82.6% in the 1st quarter. Brown Advisory Inc. now owns 9,673,979 shares of the company's stock worth $613,330,000 after acquiring an additional 4,377,402 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Carrier Global by 16.7% in the 4th quarter. Northern Trust Corp now owns 8,847,377 shares of the company's stock worth $603,922,000 after acquiring an additional 1,266,137 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Carrier Global by 15.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,930,061 shares of the company's stock worth $473,046,000 after acquiring an additional 936,892 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Carrier Global by 40.3% in the 4th quarter. Invesco Ltd. now owns 5,057,148 shares of the company's stock worth $345,201,000 after acquiring an additional 1,453,247 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Carrier Global by 8.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,736,148 shares of the company's stock worth $323,301,000 after acquiring an additional 382,670 shares during the last quarter. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Carrier Global

In other Carrier Global news, Director Maximilian Viessmann sold 4,267,425 shares of the business'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 sale, the director owned 54,341,534 shares of the company's stock, valued at $3,820,209,840.20. The trade was a 7.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 7.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CARR. Mizuho set a $72.00 target price on Carrier Global in a report on Tuesday, April 22nd. The Goldman Sachs Group restated a "buy" rating on shares of Carrier Global in a report on Wednesday, May 21st. Barclays lowered their price target on Carrier Global from $84.00 to $82.00 and set an "overweight" rating on the stock in a report on Wednesday, July 30th. Citigroup reiterated a "buy" rating and set a $89.00 price target (up previously from $82.00) on shares of Carrier Global in a report on Monday, July 14th. Finally, Melius initiated coverage on Carrier Global in a report on Tuesday, July 1st. They set a "hold" rating and a $90.00 price target on the stock. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Carrier Global has a consensus rating of "Moderate Buy" and a consensus target price of $84.47.

Carrier Global Price Performance

CARR opened at $66.10 on Thursday. The stock has a market cap of $56.25 billion, a price-to-earnings ratio of 14.40, a PEG ratio of 1.82 and a beta of 1.25. Carrier Global Corporation has a 1 year low of $54.22 and a 1 year high of $83.32. The company has a current ratio of 1.17, a quick ratio of 0.80 and a debt-to-equity ratio of 0.76. The stock has a fifty day moving average price of $73.04 and a 200 day moving average price of $68.27.

Carrier Global (NYSE:CARR - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.90 by $0.02. The firm had revenue of $6.11 billion during the quarter, compared to analysts' expectations of $6.08 billion. Carrier Global had a return on equity of 17.83% and a net margin of 18.33%. Analysts forecast that Carrier Global Corporation will post 2.99 EPS for the current fiscal year.

Carrier Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, July 21st will be given a $0.225 dividend. The ex-dividend date of this dividend is 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 currently 19.61%.

Carrier Global 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.

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