Carrier Global Corporation $CARR Shares Sold by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. has reduced its stake in Carrier Global Corporation by 8.5%, selling 462,646 shares during the first quarter, leaving them with approximately 4.97 million shares valued at $314.88 million.
• Carrier Global recently announced a quarterly dividend of $0.225 per share, with a 1.4% dividend yield and a payout ratio of 19.61%.
• Wall Street analysts have a mixed view on Carrier Global, with ten analysts rating it a "Buy" and a price target averaging $84.47, while the stock has recently seen price target reductions from firms like Morgan Stanley and Barclays.

Goldman Sachs Group Inc. decreased its holdings in Carrier Global Corporation (NYSE:CARR - Free Report) by 8.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,966,548 shares of the company's stock after selling 462,646 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.58% of Carrier Global worth $314,879,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Lindbrook Capital LLC grew its holdings in Carrier Global by 1.3% in the 1st quarter. Lindbrook Capital LLC now owns 12,294 shares of the company's stock valued at $779,000 after buying an additional 156 shares during the period. Code Waechter LLC grew its holdings in Carrier Global by 5.1% in the 1st quarter. Code Waechter LLC now owns 3,383 shares of the company's stock valued at $214,000 after buying an additional 164 shares during the period. Chicago Partners Investment Group LLC grew its holdings in Carrier Global by 2.9% in the 1st quarter. Chicago Partners Investment Group LLC now owns 6,055 shares of the company's stock valued at $424,000 after buying an additional 168 shares during the period. Essex Financial Services Inc. grew its holdings in Carrier Global by 0.4% in the 1st quarter. Essex Financial Services Inc. now owns 41,778 shares of the company's stock valued at $2,649,000 after buying an additional 173 shares during the period. Finally, Motco lifted its stake in shares of Carrier Global by 22.2% in the 1st quarter. Motco now owns 975 shares of the company's stock valued at $62,000 after purchasing an additional 177 shares in the last quarter. Hedge funds and other institutional investors own 91.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CARR shares. Citigroup reaffirmed a "buy" rating and issued a $89.00 price objective (up from $82.00) on shares of Carrier Global in a research note on Monday, July 14th. Royal Bank Of Canada reduced their price objective on Carrier Global from $87.00 to $75.00 and set an "outperform" rating on the stock in a research note on Friday. Melius Research raised Carrier Global to a "hold" rating and set a $90.00 price objective on the stock in a research note on Tuesday, July 1st. Morgan Stanley reduced their price objective on Carrier Global from $78.00 to $75.00 and set an "equal weight" rating on the stock in a research note on Friday, August 8th. Finally, Robert W. Baird reduced their price objective on Carrier Global from $85.00 to $84.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 30th. Ten investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $82.12.

Carrier Global Stock Down 1.0%

Carrier Global stock traded down $0.63 during midday trading on Monday, hitting $61.05. 1,909,317 shares of the company were exchanged, compared to its average volume of 5,371,826. The company's fifty day moving average price is $69.37 and its 200-day moving average price is $68.11. The company has a market cap of $51.95 billion, a PE ratio of 13.30, a price-to-earnings-growth ratio of 1.74 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 fifty-two week low of $54.22 and a fifty-two week high of $83.32.

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

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.