Graham Capital Management L.P. Acquires 23,288 Shares of Carrier Global Corporation $CARR

Key Points

• Graham Capital Management L.P. increased its stake in Carrier Global Corporation by 16.3%, acquiring an additional 23,288 shares, bringing their total holdings to 165,826 shares valued at approximately $10.5 million.
• Carrier Global announced a quarterly dividend of $0.225 per share, resulting in an annualized dividend of $0.90 and a yield of 1.4%.
• Carrier Global reported a strong earnings performance, with a net income margin of 18.33% and revenue of $6.11 billion for the quarter, exceeding analysts' expectations.

Graham Capital Management L.P. increased its holdings in Carrier Global Corporation (NYSE:CARR - Free Report) by 16.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 165,826 shares of the company's stock after buying an additional 23,288 shares during the period. Graham Capital Management L.P.'s holdings in Carrier Global were worth $10,513,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of CARR. Park Square Financial Group LLC purchased a new stake in Carrier Global in the 4th quarter worth approximately $28,000. Accredited Wealth Management LLC bought a new stake in shares of Carrier Global during the 1st quarter valued at about $28,000. Investment Research & Advisory Group Inc. purchased a new position in Carrier Global during the 1st quarter valued at about $29,000. Mattson Financial Services LLC purchased a new position in Carrier Global during the 4th quarter valued at about $31,000. Finally, Mascagni Wealth Management Inc. purchased a new position in Carrier Global in the fourth quarter worth about $35,000. 91.00% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $79.00 price target on shares of Carrier Global in a research report on Tuesday, July 15th. The Goldman Sachs Group reiterated a "buy" rating on shares of Carrier Global in a research note on Wednesday, May 21st. Melius Research raised shares of Carrier Global to a "hold" rating and set a $90.00 target price for the company in a report on Tuesday, July 1st. Morgan Stanley dropped their target price on shares of Carrier Global from $78.00 to $75.00 and set an "equal weight" rating for the company in a report on Friday, August 8th. Finally, Barclays lowered their price target on shares of Carrier Global from $84.00 to $82.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 30th. Ten research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $84.47.

Insider Buying and Selling

In other news, Director Maximilian Viessmann sold 4,267,425 shares of the business's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $70.30, for a total transaction 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. The trade was a 7.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 7.20% of the stock is currently owned by corporate insiders.

Carrier Global Price Performance

Carrier Global stock traded down $1.09 during midday trading on Wednesday, reaching $62.41. 6,627,384 shares of the company were exchanged, compared to its average volume of 4,666,465. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.80 and a current ratio of 1.17. The company has a market capitalization of $53.11 billion, a price-to-earnings ratio of 22.18, a P/E/G ratio of 1.79 and a beta of 1.25. The firm's 50-day simple moving average is $71.08 and its 200-day simple moving average is $68.25. Carrier Global Corporation has a 1 year low of $54.22 and a 1 year high of $83.32.

Carrier Global (NYSE:CARR - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.02. The company had revenue of $6.11 billion for the quarter, compared to the consensus estimate 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, analysts anticipate that Carrier Global Corporation will post 2.99 EPS for the current year.

Carrier Global Dividend Announcement

The firm also recently announced 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 of this dividend was Monday, July 21st. This represents a $0.90 dividend on an annualized basis and a yield of 1.4%. 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.