Korea Investment CORP Cuts Holdings in Carrier Global Corporation $CARR

Key Points

• Korea Investment CORP has reduced its stake in Carrier Global Corporation by **23.3%**, now holding **382,041 shares** worth approximately **$24.22 million**.
• Carrier Global reported **$0.92 earnings per share** for the last quarter, exceeding analysts' estimates, while its revenue was **$6.11 billion**, also above expectations.
• The company has set its fiscal year 2025 guidance at **3.000-3.100 EPS**, with an average analyst rating of **"Moderate Buy"** and a consensus price target of **$84.47**.

Korea Investment CORP decreased its stake in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 23.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 382,041 shares of the company's stock after selling 116,344 shares during the quarter. Korea Investment CORP's holdings in Carrier Global were worth $24,221,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CARR. Park Square Financial Group LLC purchased a new stake in Carrier Global during the fourth quarter valued at $28,000. Investment Research & Advisory Group Inc. purchased a new stake in Carrier Global during the first quarter valued at $29,000. Mattson Financial Services LLC purchased a new stake in Carrier Global during the fourth quarter valued at $31,000. Mascagni Wealth Management Inc. purchased a new stake in Carrier Global during the fourth quarter valued at $35,000. Finally, Transce3nd LLC purchased a new stake in Carrier Global during the fourth quarter valued at $37,000. Institutional investors own 91.00% of the company's stock.

Carrier Global Stock Down 2.4%

Shares of NYSE:CARR traded down $1.6550 during trading on Monday, reaching $66.0950. The stock had a trading volume of 2,501,350 shares, compared to its average volume of 5,287,464. Carrier Global Corporation has a one year low of $54.22 and a one year high of $83.32. The company has a market capitalization of $56.25 billion, a P/E ratio of 14.40, a PEG ratio of 1.86 and a beta of 1.25. 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 firm's 50-day simple moving average is $71.78 and its 200 day simple moving average is $68.22.

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

Carrier Global Announces Dividend

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

Insider Buying and Selling

In other Carrier Global news, Director Maximilian Viessmann sold 4,267,425 shares of Carrier Global stock in a transaction that occurred on Thursday, June 5th. The shares were 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 directly owned 54,341,534 shares in the company, valued at approximately $3,820,209,840.20. The trade was a 7.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 7.20% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on CARR shares. Wells Fargo & Company increased their target price on shares of Carrier Global from $65.00 to $75.00 and gave the company an "equal weight" rating in a research note on Monday, May 5th. The Goldman Sachs Group reissued 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 on the stock in a research note on Tuesday, July 1st. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $79.00 target price on shares of Carrier Global in a research note on Tuesday, July 15th. Finally, Northcoast Research raised shares of Carrier Global from a "neutral" rating to a "buy" rating and set a $85.00 target price on the stock in a research note on Friday, May 9th. Ten research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $84.47.

Carrier Global Company Profile

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.