EntryPoint Capital LLC Takes $371,000 Position in Carrier Global Corporation $CARR

Key Points

• EntryPoint Capital LLC has acquired 5,859 shares of Carrier Global Corporation valued at approximately $371,000 during the first quarter of this year.
• Carrier Global's stock has seen a 2.7% decline, with a current market price of $65.03 and a market capitalization of $55.35 billion.
• The company declared a quarterly dividend of $0.225 per share, translating to an annualized rate of $0.90 and a dividend yield of 1.4%.

EntryPoint Capital LLC purchased a new stake in shares of Carrier Global Corporation (NYSE:CARR - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,859 shares of the company's stock, valued at approximately $371,000.

Several other institutional investors have also added to or reduced their stakes in the business. Syon Capital LLC boosted its position in Carrier Global by 2.2% during the fourth quarter. Syon Capital LLC now owns 7,089 shares of the company's stock valued at $484,000 after buying an additional 155 shares during the period. Lindbrook Capital LLC boosted its holdings in shares of Carrier Global by 1.3% during the first quarter. Lindbrook Capital LLC now owns 12,294 shares of the company's stock worth $779,000 after purchasing an additional 156 shares during the period. Code Waechter LLC boosted its holdings in shares of Carrier Global by 5.1% during the first 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 period. Chicago Partners Investment Group LLC boosted its holdings in shares of Carrier Global by 2.9% during the first 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 period. Finally, Essex Financial Services Inc. boosted its holdings in shares of Carrier Global by 0.4% during the first 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 period. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $79.00 target price on shares of Carrier Global in a report on Tuesday, July 15th. The Goldman Sachs Group reiterated a "buy" rating on shares of Carrier Global in a report on Wednesday, May 21st. Robert W. Baird dropped their target price on shares of Carrier Global from $85.00 to $84.00 and set an "outperform" rating for the company in a report on Wednesday, July 30th. Citigroup reiterated a "buy" rating and set a $89.00 target price (up from $82.00) on shares of Carrier Global in a report on Monday, July 14th. Finally, Royal Bank Of Canada dropped 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. Ten research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, Carrier Global currently has an average rating of "Moderate Buy" and an average target price of $84.47.

Carrier Global Stock Down 2.6%

CARR traded down $1.74 on Monday, hitting $66.01. The company had a trading volume of 4,914,031 shares, compared to its average volume of 5,302,898. 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 52-week low of $54.22 and a 52-week high of $83.32. The stock has a fifty day simple moving average of $71.78 and a 200-day simple moving average of $68.22. The firm has a market capitalization of $56.18 billion, a P/E ratio of 14.38, a P/E/G ratio of 1.86 and a beta of 1.25.

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

Carrier Global Dividend Announcement

The business 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 was Monday, July 21st. This represents a $0.90 annualized dividend and a yield of 1.4%. Carrier Global's dividend payout ratio (DPR) is 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.