National Pension Service Acquires 262,862 Shares of Carrier Global Corporation (NYSE:CARR)

Key Points

• The National Pension Service increased its stake in Carrier Global Corporation by 12.1%, owning approximately 2.43 million shares valued at $154.32 million.
• Carrier Global reported a quarterly earnings per share (EPS) of $0.92, exceeding analysts' estimates and generating revenue of $6.11 billion.
• The company announced a quarterly dividend of $0.225 per share, reflecting an annualized dividend yield of 1.3% and a payout ratio of 19.61%.

National Pension Service boosted its stake in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 12.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,434,095 shares of the company's stock after purchasing an additional 262,862 shares during the period. National Pension Service owned 0.28% of Carrier Global worth $154,322,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Syon Capital LLC lifted its position in shares of Carrier Global by 2.2% in the fourth quarter. Syon Capital LLC now owns 7,089 shares of the company's stock valued at $484,000 after buying an additional 155 shares during the last quarter. Lindbrook Capital LLC lifted its position in shares of Carrier Global by 1.3% in the first quarter. Lindbrook Capital LLC now owns 12,294 shares of the company's stock valued at $779,000 after buying an additional 156 shares during the last quarter. Code Waechter LLC lifted its position in shares of Carrier Global by 5.1% in the first quarter. Code Waechter LLC now owns 3,383 shares of the company's stock valued at $214,000 after buying an additional 164 shares during the last quarter. Chicago Partners Investment Group LLC lifted its position in shares of Carrier Global by 2.9% in the first quarter. Chicago Partners Investment Group LLC now owns 6,055 shares of the company's stock valued at $424,000 after buying an additional 168 shares during the last quarter. Finally, Essex Financial Services Inc. lifted its position in shares of Carrier Global by 0.4% in the first quarter. Essex Financial Services Inc. now owns 41,778 shares of the company's stock valued at $2,649,000 after buying an additional 173 shares during the last quarter. 91.00% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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 value of $299,999,977.50. Following the transaction, the director owned 54,341,534 shares in the company, valued at approximately $3,820,209,840.20. This trade represents a 7.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 7.20% of the stock is currently owned by company insiders.

Carrier Global Price Performance

Carrier Global stock traded down $0.32 during mid-day trading on Friday, reaching $65.44. 2,968,204 shares of the company were exchanged, compared to its average volume of 5,259,797. The company has a fifty day simple moving average of $72.32 and a 200-day simple moving average of $68.13. Carrier Global Corporation has a 12 month low of $54.22 and a 12 month high of $83.32. 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 firm has a market cap of $55.69 billion, a PE ratio of 14.26, a PEG ratio of 1.80 and a beta of 1.25.

Carrier Global (NYSE:CARR - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $0.92 EPS for the quarter, topping analysts' consensus estimates of $0.90 by $0.02. Carrier Global had a return on equity of 17.83% and a net margin of 18.33%. The firm had revenue of $6.11 billion for the quarter, compared to analyst estimates of $6.08 billion. As a group, equities research analysts expect that Carrier Global Corporation will post 2.99 earnings per share for the current fiscal year.

Carrier Global Announces Dividend

The business 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 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date was Monday, July 21st. Carrier Global's dividend payout ratio (DPR) is 19.61%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Citigroup reaffirmed a "buy" rating and issued a $89.00 price objective (up from $82.00) on shares of Carrier Global in a research report on Monday, July 14th. Melius assumed coverage on Carrier Global in a research report on Tuesday, July 1st. They issued a "hold" rating and a $90.00 price objective for the company. Barclays cut their price objective on Carrier Global from $84.00 to $82.00 and set an "overweight" rating for the company in a research report on Wednesday, July 30th. Melius Research raised Carrier Global to a "hold" rating and set a $90.00 price target for the company in a report on Tuesday, July 1st. Finally, Wells Fargo & Company lifted their price target on Carrier Global from $65.00 to $75.00 and gave the stock an "equal weight" rating in a report on Monday, May 5th. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Carrier Global has a consensus rating of "Moderate Buy" and a consensus target price of $84.47.

Carrier Global 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.