OMERS ADMINISTRATION Corp Sells 4,751 Shares of Carrier Global Corporation $CARR

Key Points

• OMERS ADMINISTRATION Corp reduced its stake in Carrier Global Corporation (NYSE:CARR) by 14.2%, owning 28,799 shares valued at approximately $1.83 million after selling shares in the first quarter.
• Carrier Global announced a quarterly dividend of $0.225 per share, with a total annualized dividend of $0.90, representing a 1.4% dividend yield and a payout ratio of 19.61%.
• Carrier Global's stock received a consensus rating of "Moderate Buy" from analysts, with an average target price of $84.47, while its recent earnings report showed an EPS of $0.92 against an expectation of $0.90.

OMERS ADMINISTRATION Corp lessened its position in Carrier Global Corporation (NYSE:CARR - Free Report) by 14.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,799 shares of the company's stock after selling 4,751 shares during the period. OMERS ADMINISTRATION Corp's holdings in Carrier Global were worth $1,826,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of CARR. Nuveen LLC acquired a new position in Carrier Global in the 1st quarter worth about $649,512,000. JPMorgan Chase & Co. increased its stake in shares of Carrier Global by 17.6% in the first quarter. JPMorgan Chase & Co. now owns 31,126,869 shares of the company's stock valued at $1,973,444,000 after buying an additional 4,668,929 shares during the period. Brown Advisory Inc. increased its stake in shares of Carrier Global by 82.6% in the first quarter. Brown Advisory Inc. now owns 9,673,979 shares of the company's stock valued at $613,330,000 after buying an additional 4,377,402 shares during the period. Jacobs Levy Equity Management Inc. increased its stake in shares of Carrier Global by 2,484.0% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,122,545 shares of the company's stock valued at $76,625,000 after buying an additional 1,079,103 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of Carrier Global by 7,043.4% in the first quarter. GAMMA Investing LLC now owns 1,058,653 shares of the company's stock valued at $67,119,000 after buying an additional 1,043,833 shares during the period. Institutional investors and hedge funds own 91.00% of the company's stock.

Carrier Global Trading Up 1.4%

NYSE:CARR traded up $0.86 during mid-day trading on Thursday, reaching $63.33. 1,926,887 shares of the company's stock traded hands, compared to its average volume of 5,312,215. Carrier Global Corporation has a 12-month low of $54.22 and a 12-month high of $83.32. The firm has a market capitalization of $53.90 billion, a price-to-earnings ratio of 13.78, a PEG ratio of 1.79 and a beta of 1.25. 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 50 day moving average price of $70.88 and a 200-day moving average price of $68.21.

Carrier Global (NYSE:CARR - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $0.92 earnings per share (EPS) for the quarter, beating 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 company had revenue of $6.11 billion for 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, sell-side analysts predict that Carrier Global Corporation will post 2.99 earnings per share for the current year.

Carrier Global Dividend Announcement

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

Analyst Ratings Changes

Several brokerages recently commented on CARR. JPMorgan Chase & Co. restated a "neutral" rating and set a $79.00 target price on shares of Carrier Global in a research report on Tuesday, July 15th. The Goldman Sachs Group reissued a "buy" rating on shares of Carrier Global in a research note on Wednesday, May 21st. Citigroup reissued a "buy" rating and issued a $89.00 target price (up from $82.00) on shares of Carrier Global in a research report on Monday, July 14th. Melius initiated coverage on Carrier Global in a research note on Tuesday, July 1st. They set a "hold" rating and a $90.00 price objective for the company. Finally, Robert W. Baird lowered their price target on Carrier Global from $85.00 to $84.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 30th. Ten investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, Carrier Global has a consensus rating of "Moderate Buy" and a consensus price target of $84.47.

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.