Gamco Investors INC. ET AL Sells 10,002 Shares of Carrier Global Corporation $CARR

Key Points

• Gamco Investors INC. ET AL has reduced its holdings in Carrier Global Corporation by 7.6%, owning 122,397 shares valued at approximately $7.76 million after selling 10,002 shares in the last quarter.
• Several other institutional investors increased their stakes in Carrier Global, with Golden State Wealth Management LLC boosting its position by 51.8% to 1,389 shares worth $88,000.
• Analysts have set an average price target of $84.47 for Carrier Global, with Wells Fargo raising its target from $65 to $75 and JPMorgan maintaining a target of $79.

Gamco Investors INC. ET AL decreased its position in Carrier Global Corporation (NYSE:CARR - Free Report) by 7.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 122,397 shares of the company's stock after selling 10,002 shares during the quarter. Gamco Investors INC. ET AL's holdings in Carrier Global were worth $7,760,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. JPMorgan Chase & Co. boosted its stake 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 buying an additional 4,668,929 shares during the last quarter. Nuveen LLC acquired a new position in shares of Carrier Global during the 1st quarter worth about $649,512,000. Brown Advisory Inc. boosted its stake in shares of Carrier Global by 82.6% during the 1st 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 during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Carrier Global by 15.6% during the 4th 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 buying an additional 936,892 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Carrier Global by 2.1% during the 1st quarter. Invesco Ltd. now owns 5,165,203 shares of the company's stock worth $327,474,000 after buying an additional 108,055 shares during the last quarter. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently commented on CARR. Wells Fargo & Company lifted their price target on Carrier Global from $65.00 to $75.00 and gave the stock an "equal weight" rating in a report on Monday, May 5th. Barclays cut their price objective on shares of Carrier Global from $84.00 to $82.00 and set an "overweight" rating for the company in a research report on Wednesday, July 30th. Morgan Stanley cut their price objective on shares of Carrier Global from $78.00 to $75.00 and set an "equal weight" rating for the company in a research report on Friday, August 8th. Robert W. Baird dropped their price target on shares of Carrier Global from $85.00 to $84.00 and set an "outperform" rating for the company in a research report on Wednesday, July 30th. Finally, Melius assumed coverage on shares of Carrier Global in a research report on Tuesday, July 1st. They issued a "hold" rating and a $90.00 price target for the company. Ten equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat, Carrier Global has an average rating of "Moderate Buy" and a consensus target price of $84.47.

Insider Transactions at Carrier Global

In related news, Director Maximilian Viessmann sold 4,267,425 shares of Carrier Global stock in a transaction that occurred 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 transaction, 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 sale was disclosed in a legal filing with the SEC, which is available through this link. 7.20% of the stock is owned by company insiders.

Carrier Global Price Performance

NYSE:CARR traded down $0.95 during mid-day trading on Monday, reaching $65.23. The stock had a trading volume of 6,863,604 shares, compared to its average volume of 4,908,165. The stock has a 50-day simple moving average of $71.39 and a two-hundred day simple moving average of $68.28. The stock has a market capitalization of $55.51 billion, a PE ratio of 14.21, a P/E/G ratio of 1.79 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 12 month low of $54.22 and a 12 month high of $83.32.

Carrier Global (NYSE:CARR - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.90 by $0.02. The business had revenue of $6.11 billion for the quarter, compared to analysts' expectations 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. On average, equities analysts anticipate that Carrier Global Corporation will post 2.99 earnings per share 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 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%.

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.