Redwood Investment Management LLC Buys Shares of 20,754 Carrier Global Corporation $CARR

Key Points

• Redwood Investment Management LLC has invested approximately $1.32 million in Carrier Global Corporation, acquiring 20,754 shares of the company during the first quarter.
• Director Maximilian Viessmann sold over 4.2 million shares of Carrier Global stock, valued at nearly $300 million, resulting in a 7.28% decrease in his ownership stake.
• Analysts maintain a mixed outlook on Carrier Global, with ten analysts rating the stock as a "Buy" and a target price range from $75.00 to $90.00, indicating a largely positive sentiment despite some price adjustments.

Redwood Investment Management LLC bought a new position in shares of Carrier Global Corporation (NYSE:CARR - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 20,754 shares of the company's stock, valued at approximately $1,316,000.

Several other institutional investors have also recently made changes to their positions in the business. Lindbrook Capital LLC raised its holdings in shares of Carrier Global by 1.3% during the first quarter. Lindbrook Capital LLC now owns 12,294 shares of the company's stock worth $779,000 after purchasing an additional 156 shares during the last quarter. Code Waechter LLC raised its holdings in shares of Carrier Global by 5.1% during the first quarter. Code Waechter LLC now owns 3,383 shares of the company's stock worth $214,000 after purchasing an additional 164 shares during the last quarter. Chicago Partners Investment Group LLC raised its holdings in shares of Carrier Global by 2.9% during the first quarter. Chicago Partners Investment Group LLC now owns 6,055 shares of the company's stock worth $424,000 after purchasing an additional 168 shares during the last quarter. Essex Financial Services Inc. raised its holdings in shares of Carrier Global by 0.4% during the first quarter. Essex Financial Services Inc. now owns 41,778 shares of the company's stock worth $2,649,000 after purchasing an additional 173 shares during the last quarter. Finally, Motco raised its holdings in shares of Carrier Global by 22.2% during the first quarter. Motco now owns 975 shares of the company's stock worth $62,000 after purchasing an additional 177 shares during the last quarter. Hedge funds and other institutional investors own 91.00% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have 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 report 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 report on Friday, May 9th. Wells Fargo & Company lifted their price objective on shares of Carrier Global from $65.00 to $75.00 and gave the company an "equal weight" rating in a report on Monday, May 5th. Citigroup reaffirmed a "buy" rating and issued a $89.00 price objective (up previously from $82.00) on shares of Carrier Global in a report on Monday, July 14th. Finally, Robert W. Baird cut their price objective on shares of Carrier Global from $85.00 to $84.00 and set an "outperform" rating for the company in a report on Wednesday, July 30th. Ten analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $84.47.

Insiders Place Their Bets

In related news, Director Maximilian Viessmann sold 4,267,425 shares of the business's stock in a transaction dated 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 transaction, the director directly owned 54,341,534 shares in the company, valued at approximately $3,820,209,840.20. The trade was 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 the SEC website. Insiders own 7.20% of the company's stock.

Carrier Global Price Performance

Shares of CARR stock traded down $0.95 on Friday, reaching $65.23. 6,863,604 shares of the company were exchanged, compared to its average volume of 4,837,555. The company has a market cap of $55.51 billion, a price-to-earnings ratio of 14.21, a P/E/G ratio of 1.79 and a beta of 1.25. The business has a 50-day moving average price of $71.39 and a 200 day moving average price of $68.25. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.80 and a current ratio of 1.17. Carrier Global Corporation has a 1 year low of $54.22 and a 1 year high of $83.32.

Carrier Global (NYSE:CARR - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $0.92 earnings per share for the quarter, topping analysts' consensus estimates of $0.90 by $0.02. The firm had revenue of $6.11 billion for the quarter, compared to analyst estimates of $6.08 billion. Carrier Global had a net margin of 18.33% and a return on equity of 17.83%. Carrier Global has set its FY 2025 guidance at 3.000-3.100 EPS. Equities research analysts forecast that Carrier Global Corporation will post 2.99 earnings per share for the current fiscal year.

Carrier Global Dividend Announcement

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

Carrier Global Company 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.