Price T Rowe Associates Inc. MD Decreases Holdings in Carrier Global Corporation $CARR

Key Points

• Price T Rowe Associates Inc. MD reduced its stake in Carrier Global Corporation by 3.4%, selling 105,794 shares and currently holds approximately 2,961,008 shares worth $187.7 million.
• In Q4, several hedge funds have adjusted their positions with Brighton Jones LLC increasing their stake by 30.3%, indicating strong interest from institutional investors who now own 91% of the company's stock.
• Carrier Global recently reported a quarterly EPS of $0.92, exceeding estimates, and announced a dividend of $0.225 per share, signaling continued profitability and shareholder returns.

Price T Rowe Associates Inc. MD trimmed its stake in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 3.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,961,008 shares of the company's stock after selling 105,794 shares during the period. Price T Rowe Associates Inc. MD owned about 0.35% of Carrier Global worth $187,728,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of CARR. Park Square Financial Group LLC purchased a new position in shares of Carrier Global during the 4th quarter worth approximately $28,000. Accredited Wealth Management LLC purchased a new position in shares of Carrier Global during the 1st quarter worth approximately $28,000. Mattson Financial Services LLC purchased a new position in shares of Carrier Global during the 4th quarter worth approximately $31,000. Investment Research & Advisory Group Inc. purchased a new position in shares of Carrier Global during the 1st quarter worth approximately $29,000. Finally, Mascagni Wealth Management Inc. purchased a new position in shares of Carrier Global during the 4th quarter worth approximately $35,000. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Carrier Global Trading Down 2.0%

Shares of NYSE CARR traded down $1.39 during trading on Thursday, hitting $66.21. 3,615,230 shares of the company traded hands, compared to its average volume of 5,307,901. Carrier Global Corporation has a 1 year low of $54.22 and a 1 year high of $83.32. The company has a 50-day moving average price of $71.57 and a 200-day moving average price of $68.22. The firm has a market capitalization of $56.34 billion, a P/E ratio of 14.42, a P/E/G ratio of 1.83 and a beta of 1.25. The company has a quick ratio of 0.80, a current ratio of 1.17 and a debt-to-equity ratio of 0.76.

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

Carrier Global Announces Dividend

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

Insider Activity

In other news, Director Maximilian Viessmann sold 4,267,425 shares of the business's stock in a transaction 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 of the company's stock, valued at $3,820,209,840.20. The trade was a 7.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 7.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Melius Research raised shares of Carrier Global to a "hold" rating and set a $90.00 price objective for the company in a research note on Tuesday, July 1st. Northcoast Research raised shares of Carrier Global from a "neutral" rating to a "buy" rating and set a $85.00 price objective for the company in a research note on Friday, May 9th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Carrier Global in a research note on Wednesday, May 21st. Wells Fargo & Company lifted their target price on shares of Carrier Global from $65.00 to $75.00 and gave the stock an "equal weight" rating in a research note on Monday, May 5th. Finally, JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $79.00 target price on shares of Carrier Global in a research note on Tuesday, July 15th. Ten analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price 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.