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Invesco Ltd. Raises Stock Position in Carrier Global Corporation (NYSE:CARR)

Carrier Global logo with Construction background

Key Points

  • Invesco Ltd. increased its stake in Carrier Global Corporation by 2.1%, owning over 5 million shares worth approximately $327 million as of its latest SEC filing.
  • Carrier Global's quarterly earnings surpassed expectations, reporting $0.92 EPS compared to the consensus estimate of $0.90, with revenues of $6.11 billion.
  • The company recently declared a quarterly dividend of $0.225 per share, representing an annual yield of 1.4%, with a payout ratio of 19.61%.
  • Want stock alerts on Carrier Global? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Invesco Ltd. boosted its holdings in Carrier Global Corporation (NYSE:CARR - Free Report) by 2.1% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 5,165,203 shares of the company's stock after buying an additional 108,055 shares during the period. Invesco Ltd. owned 0.60% of Carrier Global worth $327,474,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Golden State Wealth Management LLC increased its stake in Carrier Global by 51.8% in the 1st quarter. Golden State Wealth Management LLC now owns 1,389 shares of the company's stock worth $88,000 after buying an additional 474 shares in the last quarter. Bessemer Group Inc. grew its position in shares of Carrier Global by 15.7% during the first quarter. Bessemer Group Inc. now owns 28,768 shares of the company's stock valued at $1,823,000 after purchasing an additional 3,900 shares in the last quarter. Ensign Peak Advisors Inc grew its position in shares of Carrier Global by 27.8% during the fourth quarter. Ensign Peak Advisors Inc now owns 1,314,180 shares of the company's stock valued at $89,706,000 after purchasing an additional 285,803 shares in the last quarter. Sowell Financial Services LLC purchased a new position in shares of Carrier Global during the first quarter valued at about $234,000. Finally, Ritholtz Wealth Management grew its position in shares of Carrier Global by 34.0% during the first quarter. Ritholtz Wealth Management now owns 3,968 shares of the company's stock valued at $252,000 after purchasing an additional 1,007 shares in the last quarter. Hedge funds and other institutional investors own 91.00% of the company's stock.

Carrier Global Stock Down 1.7%

Shares of NYSE:CARR opened at $64.89 on Tuesday. The company has a current ratio of 1.17, a quick ratio of 0.80 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 50-day moving average price of $72.73 and a 200 day moving average price of $68.15. The company has a market cap of $55.22 billion, a price-to-earnings ratio of 14.14, a PEG ratio of 1.81 and a beta of 1.25.

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, topping the consensus estimate of $0.90 by $0.02. The business had revenue of $6.11 billion during the quarter, compared to the consensus estimate of $6.08 billion. Carrier Global had a net margin of 18.33% and a return on equity of 17.83%. As a group, equities research analysts predict that Carrier Global Corporation will post 2.99 earnings per share for the current year.

Carrier Global Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CARR. Morgan Stanley cut their price objective on Carrier Global from $78.00 to $75.00 and set an "equal weight" rating for the company in a research report on Friday. Melius Research upgraded Carrier Global to a "hold" rating and set a $90.00 price objective for the company in a research report on Tuesday, July 1st. The Goldman Sachs Group restated a "buy" rating on shares of Carrier Global in a research report on Wednesday, May 21st. Wells Fargo & Company raised their price objective on Carrier Global from $65.00 to $75.00 and gave the company an "equal weight" rating in a research report on Monday, May 5th. Finally, Melius began coverage on Carrier Global in a research report on Tuesday, July 1st. They set a "hold" rating and a $90.00 price objective for the company. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $84.47.

Get Our Latest Stock Report on CARR

Insider Transactions at Carrier Global

In other Carrier Global news, Director Maximilian Viessmann sold 4,267,425 shares of the firm's stock in a transaction dated 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 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. 7.20% of the stock is currently owned by insiders.

Carrier Global Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Carrier Global (NYSE:CARR)

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.

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