Swiss Life Asset Management Ltd Sells 161,735 Shares of Carrier Global Corporation $CARR

Key Points

• Swiss Life Asset Management cut its Carrier Global stake by 49.9% in the fourth quarter, selling 161,735 shares and leaving it with 162,386 shares valued at about $8.58 million.
• Carrier Global continues to have strong institutional ownership, with big investors such as Capital International Investors and State Street also increasing their positions; institutions now own 91% of the stock.
• Analysts remain generally positive: the stock has a Moderate Buy consensus with a $73.57 price target, while Carrier recently beat earnings estimates and raised its quarterly dividend to $0.24 per share.

Swiss Life Asset Management Ltd decreased its stake in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 49.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 162,386 shares of the company's stock after selling 161,735 shares during the period. Swiss Life Asset Management Ltd's holdings in Carrier Global were worth $8,580,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Capital International Investors boosted its stake in shares of Carrier Global by 6.7% during the 3rd quarter. Capital International Investors now owns 57,982,302 shares of the company's stock valued at $3,461,142,000 after purchasing an additional 3,630,524 shares in the last quarter. State Street Corp boosted its stake in shares of Carrier Global by 1.4% during the 3rd quarter. State Street Corp now owns 33,377,339 shares of the company's stock valued at $1,992,627,000 after purchasing an additional 473,692 shares in the last quarter. Fisher Asset Management LLC boosted its stake in shares of Carrier Global by 0.6% during the 3rd quarter. Fisher Asset Management LLC now owns 15,139,140 shares of the company's stock valued at $903,807,000 after purchasing an additional 90,585 shares in the last quarter. Dodge & Cox boosted its stake in shares of Carrier Global by 5.1% during the 3rd quarter. Dodge & Cox now owns 13,427,697 shares of the company's stock valued at $801,634,000 after purchasing an additional 651,648 shares in the last quarter. Finally, PineStone Asset Management Inc. boosted its stake in shares of Carrier Global by 34.6% during the 4th quarter. PineStone Asset Management Inc. now owns 7,153,429 shares of the company's stock valued at $377,987,000 after purchasing an additional 1,837,985 shares in the last quarter. Institutional investors own 91.00% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CARR. Zacks Research raised shares of Carrier Global from a "strong sell" rating to a "hold" rating in a research note on Tuesday, April 7th. Wolfe Research boosted their price objective on shares of Carrier Global from $75.00 to $76.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 8th. Rothschild & Co Redburn boosted their price objective on shares of Carrier Global from $61.00 to $73.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 5th. Argus boosted their price objective on shares of Carrier Global from $72.00 to $75.00 and gave the stock a "buy" rating in a research note on Tuesday, May 5th. Finally, Weiss Ratings raised shares of Carrier Global from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, April 22nd. Twelve investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $73.57.

Carrier Global Trading Down 0.4%

Shares of NYSE CARR opened at $65.59 on Wednesday. The firm's 50 day moving average price is $60.10 and its 200-day moving average price is $58.10. The company has a market cap of $54.48 billion, a PE ratio of 43.15, a P/E/G ratio of 2.62 and a beta of 1.38. Carrier Global Corporation has a 52-week low of $50.24 and a 52-week high of $81.09. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.75 and a current ratio of 1.05.

Carrier Global (NYSE:CARR - Get Free Report) last issued its earnings results on Thursday, April 30th. The company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.06. The firm had revenue of $5.34 billion for the quarter, compared to the consensus estimate of $5.01 billion. Carrier Global had a net margin of 5.99% and a return on equity of 14.81%. The business's revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.65 earnings per share. Carrier Global has set its FY 2026 guidance at 2.800-2.800 EPS. On average, equities research analysts expect that Carrier Global Corporation will post 2.8 EPS for the current fiscal year.

Carrier Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Monday, May 4th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Monday, May 4th. Carrier Global's dividend payout ratio is currently 63.16%.

About Carrier Global

Carrier Global Corporation is a leading global provider of heating, ventilation and air conditioning (HVAC), refrigeration, fire and security, and building automation solutions. The company designs, manufactures and sells a broad portfolio of products that includes air conditioners, furnaces, heat pumps, chillers, rooftop units, commercial refrigeration systems, fire and smoke detection and suppression systems, security sensors and access controls, and a range of building controls and analytics software.

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