Credit Agricole S A Sells 7,927 Shares of Carrier Global Corporation $CARR

Key Points

• Credit Agricole S A reduced its stake in Carrier Global Corporation by 2.6%, now holding 302,632 shares valued at approximately $19 million.
• Equity analysts have raised the target price for Carrier Global to between $72.00 and $90.00, with the consensus rating being a Moderate Buy and an average target of $84.47.
• Carrier Global recently announced a quarterly dividend of $0.225 per share, translating to an annualized yield of 1.3%, with a payout ratio of 19.61%.

Credit Agricole S A cut its stake in Carrier Global Corporation (NYSE:CARR - Free Report) by 2.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 302,632 shares of the company's stock after selling 7,927 shares during the quarter. Credit Agricole S A's holdings in Carrier Global were worth $19,187,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of CARR. JPMorgan Chase & Co. grew its holdings in Carrier Global by 17.6% in the first quarter. JPMorgan Chase & Co. now owns 31,126,869 shares of the company's stock valued at $1,973,444,000 after purchasing an additional 4,668,929 shares during the period. Nuveen LLC acquired a new stake in Carrier Global in the 1st quarter valued at approximately $649,512,000. Brown Advisory Inc. lifted its position in shares of Carrier Global by 82.6% during the first quarter. Brown Advisory Inc. now owns 9,673,979 shares of the company's stock worth $613,330,000 after purchasing an additional 4,377,402 shares in the last quarter. Northern Trust Corp raised its stake in shares of Carrier Global by 16.7% in the fourth quarter. Northern Trust Corp now owns 8,847,377 shares of the company's stock valued at $603,922,000 after acquiring an additional 1,266,137 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Carrier Global by 15.6% in the fourth 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. Hedge funds and other institutional investors own 91.00% of the company's stock.

Analyst Ratings Changes

CARR has been the topic of a number of research analyst reports. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $79.00 target price on shares of Carrier Global in a research report on Tuesday, July 15th. Melius Research upgraded Carrier Global to a "hold" rating and set a $90.00 price target for the company in a research report on Tuesday, July 1st. Melius began coverage on Carrier Global in a research report on Tuesday, July 1st. They set a "hold" rating and a $90.00 price objective for the company. Robert W. Baird cut their price objective on shares of Carrier Global from $85.00 to $84.00 and set an "outperform" rating on the stock in a report on Wednesday, July 30th. 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 on the stock in a research note on Wednesday, July 30th. Ten analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $84.47.

Carrier Global Price Performance

Shares of NYSE:CARR traded up $2.68 on Friday, reaching $67.69. 5,534,971 shares of the company traded hands, compared to its average volume of 5,546,101. Carrier Global Corporation has a fifty-two week low of $54.22 and a fifty-two week high of $83.32. The company's 50 day moving average is $71.78 and its 200-day moving average is $68.20. The stock has a market capitalization of $57.61 billion, a PE ratio of 14.75, a P/E/G ratio of 1.86 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.

Carrier Global (NYSE:CARR - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.90 by $0.02. The business had revenue of $6.11 billion during the quarter, compared to the consensus estimate 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. As a group, analysts anticipate that Carrier Global Corporation will post 2.99 earnings per share for the current fiscal year.

Carrier Global Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Monday, July 21st were paid 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 1.3%. Carrier Global's dividend payout ratio is 19.61%.

Insider Activity

In related news, Director Maximilian Viessmann sold 4,267,425 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $70.30, for a total transaction of $299,999,977.50. Following the completion of the sale, the director directly owned 54,341,534 shares in the company, valued at approximately $3,820,209,840.20. This trade represents a 7.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 7.20% of the company's stock.

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.