Connecticut Wealth Management LLC Has $7.65 Million Position in Carrier Global Corporation $CARR

Key Points

• Connecticut Wealth Management LLC increased its stake in Carrier Global Corporation by 4.4%, bringing their total holdings to 120,730 shares valued at approximately $7.65 million.
• Carrier Global recently reported quarterly earnings of $0.92 EPS, surpassing analysts' expectations, with revenue of $6.11 billion.
• The company declared a quarterly dividend of $0.225 per share, resulting in an annualized yield of 1.4% and a payout ratio of 19.61%.

Connecticut Wealth Management LLC raised its holdings in Carrier Global Corporation (NYSE:CARR - Free Report) by 4.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 120,730 shares of the company's stock after buying an additional 5,063 shares during the period. Connecticut Wealth Management LLC's holdings in Carrier Global were worth $7,654,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Lindbrook Capital LLC increased its stake 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 increased its stake in shares of Carrier Global by 5.1% during the 1st quarter. Code Waechter LLC now owns 3,383 shares of the company's stock worth $214,000 after purchasing an additional 164 shares during the last quarter. Chicago Partners Investment Group LLC increased its stake in shares of Carrier Global by 2.9% during the 1st quarter. Chicago Partners Investment Group LLC now owns 6,055 shares of the company's stock worth $424,000 after purchasing an additional 168 shares during the last quarter. Essex Financial Services Inc. increased its stake in shares of Carrier Global by 0.4% during the 1st quarter. Essex Financial Services Inc. now owns 41,778 shares of the company's stock worth $2,649,000 after purchasing an additional 173 shares during the last quarter. Finally, Motco increased its stake in shares of Carrier Global by 22.2% during the 1st quarter. Motco now owns 975 shares of the company's stock worth $62,000 after purchasing an additional 177 shares during the last quarter. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Carrier Global Stock Down 1.4%

Shares of CARR opened at $65.23 on Friday. Carrier Global Corporation has a 52 week low of $54.22 and a 52 week high of $83.32. The firm has a market cap of $55.51 billion, a P/E ratio of 14.21, a price-to-earnings-growth ratio of 1.82 and a beta of 1.25. The firm's 50-day simple moving average is $71.39 and its 200 day simple moving average is $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.

Carrier Global (NYSE:CARR - Get Free Report) last announced its quarterly 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. The business had revenue of $6.11 billion for 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. On average, analysts forecast that Carrier Global Corporation will post 2.99 earnings per share for the current year.

Carrier Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Monday, July 21st were issued 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 yield of 1.4%. Carrier Global's payout ratio is currently 19.61%.

Analyst Ratings Changes

CARR has been the topic of several recent analyst reports. Morgan Stanley lowered their price objective 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. Barclays lowered their price objective on shares of Carrier Global from $84.00 to $82.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 30th. Melius initiated coverage on shares of Carrier Global in a research note on Tuesday, July 1st. They set a "hold" rating and a $90.00 price objective on the stock. Robert W. Baird lowered their price objective 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. Finally, Royal Bank Of Canada lowered their price objective 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. Ten investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Carrier Global presently has an average rating of "Moderate Buy" and a consensus target price of $84.47.

Insider Transactions 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 shares were 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 position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 7.20% of the stock is owned by corporate insiders.

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.

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