Carrier Global Corporation $CARR Shares Sold by Jacobs Levy Equity Management Inc.

Key Points

• Jacobs Levy Equity Management Inc. significantly reduced its stake in Carrier Global Corporation by 78.1%, decreasing its holdings to 246,090 shares worth approximately $15.6 million.
• Carrier Global's quarterly earnings report indicated an EPS of $0.92, surpassing analysts' expectations of $0.90, with revenues reaching $6.11 billion.
• The company announced a quarterly dividend of $0.225 per share, reflecting an annualized yield of 1.4% and a payout ratio of 19.61%.

Jacobs Levy Equity Management Inc. decreased its position in Carrier Global Corporation (NYSE:CARR - Free Report) by 78.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 246,090 shares of the company's stock after selling 876,455 shares during the period. Jacobs Levy Equity Management Inc.'s holdings in Carrier Global were worth $15,602,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CARR. Brighton Jones LLC raised its position in Carrier Global by 30.3% in the 4th quarter. Brighton Jones LLC now owns 7,958 shares of the company's stock worth $543,000 after buying an additional 1,850 shares during the last quarter. BOKF NA grew its holdings in Carrier Global by 6.5% during the 4th quarter. BOKF NA now owns 8,098 shares of the company's stock valued at $539,000 after buying an additional 492 shares in the last quarter. Cetera Investment Advisers grew its holdings in Carrier Global by 6.7% during the 4th quarter. Cetera Investment Advisers now owns 166,854 shares of the company's stock valued at $11,389,000 after buying an additional 10,497 shares in the last quarter. Deutsche Bank AG grew its holdings in Carrier Global by 13.2% during the 4th quarter. Deutsche Bank AG now owns 2,400,584 shares of the company's stock valued at $163,864,000 after buying an additional 280,077 shares in the last quarter. Finally, Fiduciary Trust Co boosted its position in shares of Carrier Global by 3.9% during the 4th quarter. Fiduciary Trust Co now owns 88,103 shares of the company's stock valued at $6,014,000 after acquiring an additional 3,267 shares during the last quarter. Institutional investors own 91.00% of the company's stock.

Carrier Global Stock Down 1.4%

NYSE CARR traded down $0.89 during trading on Friday, hitting $61.42. The company's stock had a trading volume of 2,040,719 shares, compared to its average volume of 5,373,959. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.17 and a quick ratio of 0.80. The company has a market cap of $52.27 billion, a PE ratio of 13.39, a P/E/G ratio of 1.76 and a beta of 1.25. The business's 50 day simple moving average is $69.64 and its 200-day simple moving average is $68.11. 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 issued its quarterly earnings results on Tuesday, July 29th. The company reported $0.92 earnings per share 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 during the quarter, compared to the consensus estimate of $6.08 billion. 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 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CARR. JPMorgan Chase & Co. restated a "neutral" rating and set a $79.00 price target on shares of Carrier Global in a report on Tuesday, July 15th. Melius started coverage on Carrier Global in a research note on Tuesday, July 1st. They issued a "hold" rating and a $90.00 target price on the stock. Barclays cut their price target on Carrier Global from $82.00 to $74.00 and set an "overweight" rating on the stock in a research note on Thursday. Morgan Stanley dropped their price objective 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. Finally, Melius Research raised Carrier Global to a "hold" rating and set a $90.00 price objective on the stock in a research report on Tuesday, July 1st. Ten research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $82.12.

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.