Norinchukin Bank The Has $2.75 Million Position in Carrier Global Corporation $CARR

Key Points

• Norinchukin Bank increased its position in Carrier Global Corporation by 13.0% in Q1, acquiring an additional 4,987 shares to reach a total of 43,346 shares valued at approximately $2.75 million.
• Carrier Global reported earnings of $0.92 per share, exceeding analysts’ expectations, and had a revenue of $6.11 billion for the quarter.
• The company recently announced a quarterly dividend of $0.225 per share, with a 1.3% yield, and a payout ratio of 19.61%.

Norinchukin Bank The boosted its stake in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 13.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 43,346 shares of the company's stock after purchasing an additional 4,987 shares during the quarter. Norinchukin Bank The's holdings in Carrier Global were worth $2,748,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its position in Carrier Global by 17.6% during the first quarter. JPMorgan Chase & Co. now owns 31,126,869 shares of the company's stock worth $1,973,444,000 after purchasing an additional 4,668,929 shares during the period. Nuveen LLC bought a new stake in Carrier Global during the first quarter worth approximately $649,512,000. Brown Advisory Inc. boosted its position in Carrier Global by 82.6% during the first quarter. Brown Advisory Inc. now owns 9,673,979 shares of the company's stock worth $613,330,000 after purchasing an additional 4,377,402 shares during the period. Northern Trust Corp boosted its position in Carrier Global by 16.7% during the fourth quarter. Northern Trust Corp now owns 8,847,377 shares of the company's stock worth $603,922,000 after purchasing an additional 1,266,137 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Carrier Global by 15.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,930,061 shares of the company's stock worth $473,046,000 after purchasing an additional 936,892 shares during the period. Institutional investors own 91.00% of the company's stock.

Carrier Global Stock Performance

Shares of NYSE CARR traded down $1.74 during trading hours on Monday, reaching $66.01. The stock had a trading volume of 4,914,031 shares, compared to its average volume of 5,652,787. The business's fifty day moving average is $71.68 and its two-hundred day moving average is $68.23. 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 $56.18 billion, a price-to-earnings ratio of 14.38, a PEG ratio of 1.86 and a beta of 1.25. Carrier Global Corporation has a twelve month low of $54.22 and a twelve month high of $83.32.

Carrier Global (NYSE:CARR - Get Free Report) last issued its earnings results on Tuesday, July 29th. The company reported $0.92 EPS for the quarter, beating analysts' consensus estimates of $0.90 by $0.02. The business had revenue of $6.11 billion during the quarter, compared to analyst estimates of $6.08 billion. Carrier Global had a return on equity of 17.83% and a net margin of 18.33%. 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 year.

Carrier Global Dividend Announcement

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

Insider Transactions at Carrier Global

In other Carrier Global news, Director Maximilian Viessmann sold 4,267,425 shares of the 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 completion of the transaction, the director directly owned 54,341,534 shares in the company, valued at $3,820,209,840.20. This represents a 7.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 7.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

CARR has been the subject of several research reports. Barclays reduced 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. Morgan Stanley reduced 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, August 8th. Wells Fargo & Company increased 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. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $79.00 price objective on shares of Carrier Global in a research report on Tuesday, July 15th. Finally, Northcoast Research raised Carrier Global from a "neutral" rating to a "buy" rating and set a $85.00 price objective for the company in a research report on Friday, May 9th. Ten equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, Carrier Global presently has an average rating of "Moderate Buy" and a consensus price target 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.