Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 23,200 Shares of Carrier Global Corporation $CARR

Key Points

• Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its stake in Carrier Global Corporation by 17.3%, selling 23,200 shares, bringing its total holdings to 110,789 shares valued at approximately $7,024,000.
• Carrier Global's stock received mixed ratings from analysts, with seven maintaining a "hold" rating and ten issuing "buy" ratings, leading to an average rating of "Moderate Buy" and a consensus target price of $84.47.
• The company recently declared a quarterly dividend of $0.225 per share, yielding 1.4% annually, with a payout ratio of 19.61%.

Fjarde AP Fonden Fourth Swedish National Pension Fund trimmed its stake in Carrier Global Corporation (NYSE:CARR - Free Report) by 17.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 110,789 shares of the company's stock after selling 23,200 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Carrier Global were worth $7,024,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in CARR. Tokio Marine Asset Management Co. Ltd. raised its position in Carrier Global by 2.2% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 25,850 shares of the company's stock valued at $1,639,000 after acquiring an additional 546 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its stake in shares of Carrier Global by 20.3% in the first quarter. Caitong International Asset Management Co. Ltd now owns 1,190 shares of the company's stock worth $75,000 after acquiring an additional 201 shares during the last quarter. National Pension Service lifted its position in Carrier Global by 12.1% in the first quarter. National Pension Service now owns 2,434,095 shares of the company's stock worth $154,322,000 after purchasing an additional 262,862 shares during the period. Russell Investments Group Ltd. lifted its position in Carrier Global by 5.5% in the first quarter. Russell Investments Group Ltd. now owns 1,845,290 shares of the company's stock worth $116,972,000 after purchasing an additional 96,327 shares during the period. Finally, Resona Asset Management Co. Ltd. lifted its position in Carrier Global by 7.5% in the first quarter. Resona Asset Management Co. Ltd. now owns 262,122 shares of the company's stock worth $16,616,000 after purchasing an additional 18,294 shares during the period. 91.00% of the stock is owned by hedge funds and other institutional investors.

Carrier Global Trading Down 0.5%

Carrier Global stock traded down $0.3480 during trading hours on Wednesday, hitting $66.6320. The stock had a trading volume of 2,584,298 shares, compared to its average volume of 5,252,572. The company has a quick ratio of 0.80, a current ratio of 1.17 and a debt-to-equity ratio of 0.76. The stock has a market cap of $56.71 billion, a price-to-earnings ratio of 14.51, a P/E/G ratio of 1.83 and a beta of 1.25. Carrier Global Corporation has a one year low of $54.22 and a one year high of $83.32. The business's 50 day simple moving average is $72.11 and its 200-day simple moving average is $68.14.

Carrier Global (NYSE:CARR - Get Free Report) last posted its 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. Carrier Global had a return on equity of 17.83% and a net margin of 18.33%.The firm 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 predict that Carrier Global Corporation will post 2.99 EPS for the current fiscal year.

Carrier Global Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Monday, July 21st were paid a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Monday, July 21st. Carrier Global's dividend payout ratio (DPR) is 19.61%.

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 that occurred on 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 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 SEC, which is accessible through this hyperlink. Company insiders own 7.20% of the company's stock.

Analyst Upgrades and Downgrades

CARR has been the subject of a number of analyst reports. Royal Bank Of Canada cut their price objective on Carrier Global from $89.00 to $87.00 and set an "outperform" rating for the company in a report on Wednesday, July 30th. Wells Fargo & Company lifted their price objective on Carrier Global from $65.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Monday, May 5th. Northcoast Research upgraded 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. Mizuho set a $72.00 target price on Carrier Global in a report on Tuesday, April 22nd. Finally, The Goldman Sachs Group reaffirmed a "buy" rating on shares of Carrier Global in a report on Wednesday, May 21st. Ten research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, Carrier Global currently has a consensus rating of "Moderate Buy" and an average target price of $84.47.

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.