Gabelli Funds LLC Has $16.93 Million Stock Holdings in Carrier Global Corporation $CARR

Key Points

• Gabelli Funds LLC has reduced its stake in Carrier Global Corporation by 15.3%, now holding 266,948 shares valued at approximately $16.93 million.
• Several large investors increased their holdings in Carrier Global, with Kayne Anderson Rudnick boosting its stake by 808.2% during the same quarter.
• Analysts have given Carrier Global a consensus rating of "Moderate Buy", with a target price average of $84.47 following various ratings upgrades from brokerages.

Gabelli Funds LLC decreased its position in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 15.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 266,948 shares of the company's stock after selling 48,098 shares during the quarter. Gabelli Funds LLC's holdings in Carrier Global were worth $16,925,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in Carrier Global by 808.2% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,216 shares of the company's stock worth $140,000 after buying an additional 1,972 shares in the last quarter. Comerica Bank raised its position in shares of Carrier Global by 1.0% during the 1st quarter. Comerica Bank now owns 328,045 shares of the company's stock valued at $20,798,000 after acquiring an additional 3,232 shares during the last quarter. Synovus Financial Corp raised its position in shares of Carrier Global by 44.2% during the 1st quarter. Synovus Financial Corp now owns 80,754 shares of the company's stock valued at $5,120,000 after acquiring an additional 24,750 shares during the last quarter. ICONIQ Capital LLC bought a new stake in shares of Carrier Global during the 1st quarter valued at $377,000. Finally, Jump Financial LLC raised its position in shares of Carrier Global by 302.6% during the 1st quarter. Jump Financial LLC now owns 14,609 shares of the company's stock valued at $926,000 after acquiring an additional 10,980 shares during the last quarter. Institutional investors and hedge funds own 91.00% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on CARR. Northcoast Research upgraded shares of Carrier Global from a "neutral" rating to a "buy" rating and set a $85.00 target price for the company in a research report on Friday, May 9th. 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 research report on Wednesday, July 30th. The Goldman Sachs Group reiterated a "buy" rating on shares of Carrier Global in a research report on Wednesday, May 21st. Melius Research upgraded shares of Carrier Global to a "hold" rating and set a $90.00 target price for the company in a research report on Tuesday, July 1st. Finally, 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. Ten analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $84.47.

Carrier Global Price Performance

CARR opened at $66.43 on Wednesday. The company has a quick ratio of 0.80, a current ratio of 1.17 and a debt-to-equity ratio of 0.76. Carrier Global Corporation has a 12 month low of $54.22 and a 12 month high of $83.32. The company has a fifty day simple moving average of $71.61 and a 200 day simple moving average of $68.22. The stock has a market cap of $56.53 billion, a P/E ratio of 14.47, a P/E/G ratio of 1.81 and a beta of 1.25.

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 analysts' consensus estimates 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 analysts' expectations of $6.08 billion. Carrier Global has set its FY 2025 guidance at 3.000-3.100 EPS. On average, research analysts expect that Carrier Global Corporation will post 2.99 EPS for the current year.

Carrier Global Dividend Announcement

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

Insider Activity at Carrier Global

In related news, Director Maximilian Viessmann sold 4,267,425 shares of the company's stock in a transaction on 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 in the company, valued at $3,820,209,840.20. This represents a 7.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 7.20% of the stock is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.