State of New Jersey Common Pension Fund D Sells 30,933 Shares of Carrier Global Corporation $CARR

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in Carrier Global Corporation by 10.5%, selling 30,933 shares, and now holds 264,627 shares valued at $16,777,000.
• In a significant insider transaction, Director Maximilian Viessmann sold 4,267,425 shares of Carrier Global for approximately $300 million, resulting in a 7.28% decrease in his position.
• Carrier Global recently declared a quarterly dividend of $0.225 per share, yielding 1.4% annually, with a payout ratio of 19.61%.

State of New Jersey Common Pension Fund D cut its position in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 10.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 264,627 shares of the company's stock after selling 30,933 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Carrier Global were worth $16,777,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in CARR. Park Square Financial Group LLC bought a new stake in Carrier Global in the fourth quarter worth $28,000. Investment Research & Advisory Group Inc. bought a new stake in Carrier Global in the first quarter worth $29,000. Mattson Financial Services LLC bought a new stake in Carrier Global in the fourth quarter worth $31,000. Mascagni Wealth Management Inc. bought a new stake in Carrier Global in the fourth quarter worth $35,000. Finally, Transce3nd LLC bought a new stake in Carrier Global in the fourth quarter worth $37,000. 91.00% of the stock is currently owned by institutional investors.

Carrier Global Stock Performance

NYSE CARR traded up $2.74 on Friday, hitting $67.75. 1,371,299 shares of the company traded hands, compared to its average volume of 5,278,466. The business's 50 day moving average price is $71.85 and its 200-day moving average price is $68.15. Carrier Global Corporation has a 52-week low of $54.22 and a 52-week high of $83.32. The company has a current ratio of 1.17, a quick ratio of 0.80 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $57.66 billion, a price-to-earnings ratio of 14.78, a P/E/G ratio of 1.84 and a beta of 1.25.

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 the consensus estimate 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 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 analysts expect that Carrier Global Corporation will post 2.99 earnings per share for the current year.

Carrier Global Announces Dividend

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

Wall Street Analyst Weigh In

CARR has been the topic of several analyst reports. Northcoast Research raised Carrier Global from a "neutral" rating to a "buy" rating and set a $85.00 target price on the stock in a report on Friday, May 9th. Morgan Stanley dropped their target price on Carrier Global from $78.00 to $75.00 and set an "equal weight" rating on the stock in a report on Friday, August 8th. Robert W. Baird dropped their target price on Carrier Global from $85.00 to $84.00 and set an "outperform" rating on the stock in a report on Wednesday, July 30th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $79.00 price target on shares of Carrier Global in a report on Tuesday, July 15th. Finally, Royal Bank Of Canada lowered their price target on Carrier Global from $89.00 to $87.00 and set an "outperform" rating on the stock in a report on Wednesday, July 30th. Ten research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, Carrier Global presently has a consensus rating of "Moderate Buy" and an average price target of $84.47.

Insider Buying and Selling

In related news, Director Maximilian Viessmann sold 4,267,425 shares of the company'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. This represents a 7.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 7.20% of the company's stock.

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.