Dimensional Fund Advisors LP Purchases 292,801 Shares of Carrier Global Corporation $CARR

Key Points

• Dimensional Fund Advisors LP increased its stake in Carrier Global Corporation by 6.2%, acquiring an additional 292,801 shares, bringing its total ownership to 5,028,949 shares valued at approximately $318.8 million.
• Carrier Global's recent earnings report revealed an EPS of $0.92, surpassing expectations, while the company also announced a quarterly dividend of $0.225, resulting in an annualized yield of 1.4%.
• The stock currently holds a consensus rating of "Moderate Buy" from analysts, with target prices ranging from $72.00 to $90.00.

Dimensional Fund Advisors LP raised its holdings in Carrier Global Corporation (NYSE:CARR - Free Report) by 6.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,028,949 shares of the company's stock after acquiring an additional 292,801 shares during the period. Dimensional Fund Advisors LP owned approximately 0.59% of Carrier Global worth $318,787,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. boosted its position in shares of Carrier Global by 17.6% during the 1st quarter. JPMorgan Chase & Co. now owns 31,126,869 shares of the company's stock worth $1,973,444,000 after purchasing an additional 4,668,929 shares during the period. Nuveen LLC purchased a new stake in shares of Carrier Global in the first quarter valued at about $649,512,000. Brown Advisory Inc. boosted its holdings in 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 buying an additional 4,377,402 shares in the last quarter. Northern Trust Corp boosted its holdings in Carrier Global by 16.7% during the fourth quarter. Northern Trust Corp now owns 8,847,377 shares of the company's stock worth $603,922,000 after buying an additional 1,266,137 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Carrier Global by 15.6% during 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.

Carrier Global Stock Up 4.2%

NYSE:CARR traded up $2.72 during trading hours on Friday, reaching $67.73. 1,135,797 shares of the stock were exchanged, compared to its average volume of 5,277,340. The stock has a market cap of $57.64 billion, a PE ratio of 14.77, a PEG ratio of 1.84 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 Corporation has a twelve month low of $54.22 and a twelve month high of $83.32. The firm has a 50 day moving average of $71.85 and a 200 day moving average of $68.15.

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 the consensus estimate of $0.90 by $0.02. Carrier Global had a return on equity of 17.83% and a net margin of 18.33%.The company had revenue of $6.11 billion during the quarter, compared to the consensus estimate 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 year.

Carrier Global Announces Dividend

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

Wall Street Analyst Weigh In

CARR has been the subject of a number of analyst reports. Northcoast Research raised shares of Carrier Global from a "neutral" rating to a "buy" rating and set a $85.00 price objective for the company in a research report on Friday, May 9th. Wells Fargo & Company increased their target price on shares of Carrier Global from $65.00 to $75.00 and gave the stock an "equal weight" rating in a report on Monday, May 5th. Melius initiated coverage on shares of Carrier Global in a research note on Tuesday, July 1st. They issued a "hold" rating and a $90.00 price objective on the stock. Royal Bank Of Canada decreased their target price 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. Finally, JPMorgan Chase & Co. restated a "neutral" rating and set a $79.00 price target on shares of Carrier Global in a report on Tuesday, July 15th. Ten investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $84.47.

Insiders Place Their Bets

In related news, Director Maximilian Viessmann sold 4,267,425 shares of the firm'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 sale, the director directly owned 54,341,534 shares of the company's stock, valued at $3,820,209,840.20. This trade represents a 7.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 7.20% of the stock is owned by company insiders.

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.