Raymond James Financial Inc. Boosts Holdings in Carrier Global Corporation $CARR

Key Points

• Raymond James Financial Inc. has increased its holdings in Carrier Global Corporation by 18.6%, owning approximately 1,884,433 shares valued at $119.47 million.
• Several other institutional investors also adjusted their positions in Carrier Global, with 91% of the stock currently owned by institutional investors and hedge funds.
• Carrier Global recently declared a quarterly dividend of $0.225 per share, representing a 1.4% dividend yield and a payout ratio of 19.61%.

Raymond James Financial Inc. grew its holdings in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 18.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,884,433 shares of the company's stock after acquiring an additional 295,905 shares during the quarter. Raymond James Financial Inc. owned about 0.22% of Carrier Global worth $119,473,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Park Square Financial Group LLC bought a new stake in shares of Carrier Global during the 4th quarter valued at about $28,000. Investment Research & Advisory Group Inc. bought a new stake in shares of Carrier Global during the 1st quarter valued at about $29,000. Mattson Financial Services LLC bought a new stake in shares of Carrier Global during the 4th quarter valued at about $31,000. Mascagni Wealth Management Inc. bought a new stake in shares of Carrier Global during the 4th quarter valued at about $35,000. Finally, Transce3nd LLC bought a new stake in Carrier Global in the 4th quarter worth approximately $37,000. Institutional investors own 91.00% of the company's stock.

Insider Transactions at Carrier Global

In other Carrier Global news, Director Maximilian Viessmann sold 4,267,425 shares of the company's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $70.30, for a total value of $299,999,977.50. Following the completion of the transaction, the director directly owned 54,341,534 shares in the company, valued at approximately $3,820,209,840.20. This represents a 7.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 7.20% of the company's stock.

Carrier Global Trading Up 4.1%

Carrier Global stock traded up $2.68 during trading hours on Friday, reaching $67.69. The company had a trading volume of 5,534,971 shares, compared to its average volume of 5,652,787. 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 $71.78 and a 200 day moving average price of $68.22. The firm has a market cap of $57.61 billion, a price-to-earnings ratio of 14.75, a P/E/G ratio of 1.86 and a beta of 1.25. Carrier Global Corporation has a 12-month low of $54.22 and a 12-month high of $83.32.

Carrier Global (NYSE:CARR - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $0.92 EPS for the quarter, topping analysts' consensus estimates of $0.90 by $0.02. The business had revenue of $6.11 billion for the quarter, compared to analysts' expectations 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. Equities analysts forecast that Carrier Global Corporation will post 2.99 earnings per share for the current year.

Carrier Global Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 8th. Investors of record on Monday, July 21st were issued a $0.225 dividend. The ex-dividend date was Monday, July 21st. This represents a $0.90 annualized dividend and a yield of 1.3%. Carrier Global's payout ratio is 19.61%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CARR. Morgan Stanley dropped their target price 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. The Goldman Sachs Group restated a "buy" rating on shares of Carrier Global in a research report on Wednesday, May 21st. Barclays dropped their target price 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. Northcoast Research upgraded Carrier Global from a "neutral" rating to a "buy" rating and set a $85.00 target price for the company in a research report on Friday, May 9th. Finally, JPMorgan Chase & Co. restated a "neutral" rating and issued a $79.00 target price on shares of Carrier Global in a research report on Tuesday, July 15th. Ten investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Carrier Global has an average 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.