5,944 Shares in Carrier Global Corporation $CARR Purchased by ICONIQ Capital LLC

Key Points

• ICONIQ Capital LLC has purchased a new stake in Carrier Global Corporation, acquiring 5,944 shares valued at approximately $377,000 during the first quarter.
• Carrier Global reported earnings of $0.92 per share, exceeding the consensus estimate of $0.90, and generated $6.11 billion in revenue for the quarter.
• The company recently announced a quarterly dividend of $0.225 per share, representing a 1.3% yield and a payout ratio of 19.61%.

ICONIQ Capital LLC purchased a new position in Carrier Global Corporation (NYSE:CARR - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 5,944 shares of the company's stock, valued at approximately $377,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Brighton Jones LLC grew its stake in shares of Carrier Global by 30.3% during the 4th quarter. Brighton Jones LLC now owns 7,958 shares of the company's stock worth $543,000 after purchasing an additional 1,850 shares during the period. Jump Financial LLC acquired a new stake in shares of Carrier Global during the 4th quarter worth approximately $248,000. MGO One Seven LLC grew its stake in shares of Carrier Global by 9.7% during the 4th quarter. MGO One Seven LLC now owns 3,008 shares of the company's stock worth $205,000 after purchasing an additional 267 shares during the period. Nebula Research & Development LLC acquired a new stake in shares of Carrier Global during the 4th quarter worth approximately $257,000. Finally, Virtus ETF Advisers LLC acquired a new stake in shares of Carrier Global during the 4th quarter worth approximately $1,038,000. Institutional investors and hedge funds own 91.00% of the company's stock.

Insider Activity at Carrier Global

In other news, Director Maximilian Viessmann sold 4,267,425 shares of Carrier Global 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 transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 7.20% of the stock is currently owned by corporate insiders.

Carrier Global Price Performance

CARR stock traded down $1.39 during midday trading on Thursday, reaching $66.21. The stock had a trading volume of 3,615,230 shares, compared to its average volume of 5,307,901. The company's fifty day simple moving average is $71.57 and its 200 day simple moving average is $68.22. The company has a current ratio of 1.17, a quick ratio of 0.80 and a debt-to-equity ratio of 0.76. The company has a market cap of $56.34 billion, a price-to-earnings ratio of 14.42, a price-to-earnings-growth ratio of 1.83 and a beta of 1.25. Carrier Global Corporation has a 52-week low of $54.22 and a 52-week high of $83.32.

Carrier Global (NYSE:CARR - Get Free Report) last posted 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. Carrier Global had a return on equity of 17.83% and a net margin of 18.33%.The business had revenue of $6.11 billion for the quarter, compared to analyst estimates of $6.08 billion. Carrier Global has set its FY 2025 guidance at 3.000-3.100 EPS. As a group, sell-side analysts predict that Carrier Global Corporation will post 2.99 earnings per share for the current fiscal year.

Carrier Global Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Monday, July 21st were issued a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Monday, July 21st. Carrier Global's payout ratio is currently 19.61%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Citigroup reaffirmed a "buy" rating and set a $89.00 price objective (up previously from $82.00) on shares of Carrier Global in a research note on Monday, July 14th. Melius Research upgraded Carrier Global to a "hold" rating and set a $90.00 target price on the stock in a research report on Tuesday, July 1st. Robert W. Baird decreased their target price on Carrier Global from $85.00 to $84.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 30th. Melius began coverage on Carrier Global in a research report on Tuesday, July 1st. They set a "hold" rating and a $90.00 target price on the stock. Finally, Morgan Stanley decreased their target price on Carrier Global from $78.00 to $75.00 and set an "equal weight" rating on the stock in a research report on Friday, August 8th. Ten equities research 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 has an average rating of "Moderate Buy" and a consensus target price of $84.47.

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.