Temasek Holdings Private Ltd Trims Stake in Carrier Global Corporation $CARR

Key Points

• Temasek Holdings has reduced its stake in Carrier Global Corporation by 6.0%, selling 8,359 shares to hold 131,078 shares valued at $8,310,000.
• Carrier Global reported $0.92 EPS for the latest quarter, exceeding analyst expectations, and announced a quarterly dividend of $0.225 per share.
• The company is largely held by institutional investors, who own 91.00% of its shares, with JPMorgan Chase recently increasing its stake by 17.6%.

Temasek Holdings Private Ltd trimmed its position in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 6.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 131,078 shares of the company's stock after selling 8,359 shares during the quarter. Temasek Holdings Private Ltd's holdings in Carrier Global were worth $8,310,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of CARR. Nuveen LLC bought a new stake in Carrier Global during the 1st quarter valued at approximately $649,512,000. JPMorgan Chase & Co. lifted its holdings in shares of Carrier Global by 17.6% during the first quarter. JPMorgan Chase & Co. now owns 31,126,869 shares of the company's stock valued at $1,973,444,000 after purchasing an additional 4,668,929 shares during the last quarter. Brown Advisory Inc. lifted its holdings in shares of Carrier Global by 82.6% during the first quarter. Brown Advisory Inc. now owns 9,673,979 shares of the company's stock valued at $613,330,000 after purchasing an additional 4,377,402 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Carrier Global by 61.9% during the first quarter. Alliancebernstein L.P. now owns 4,318,806 shares of the company's stock valued at $273,812,000 after purchasing an additional 1,651,873 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in shares of Carrier Global by 2,484.0% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,122,545 shares of the company's stock valued at $76,625,000 after purchasing an additional 1,079,103 shares during the last quarter. 91.00% of the stock is owned by institutional investors.

Carrier Global Stock Performance

NYSE:CARR traded down $2.17 during trading hours on Tuesday, reaching $63.44. The company had a trading volume of 5,694,759 shares, compared to its average volume of 5,108,389. Carrier Global Corporation has a 52 week low of $54.22 and a 52 week high of $83.32. The firm's 50 day moving average price is $70.16 and its 200-day moving average price is $68.17. 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 firm has a market cap of $53.99 billion, a price-to-earnings ratio of 13.82, a PEG ratio of 1.85 and a beta of 1.25.

Carrier Global (NYSE:CARR - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.90 by $0.02. The firm had revenue of $6.11 billion during the quarter, compared to the consensus estimate 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. On average, analysts forecast that Carrier Global Corporation will post 2.99 EPS for the current year.

Carrier Global Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on CARR shares. Barclays lowered their target price on shares of Carrier Global from $84.00 to $82.00 and set an "overweight" rating for the company in a report on Wednesday, July 30th. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $79.00 target price on shares of Carrier Global in a report on Tuesday, July 15th. Citigroup reiterated a "buy" rating and set a $89.00 target price (up from $82.00) on shares of Carrier Global in a report on Monday, July 14th. Melius Research upgraded shares of Carrier Global to a "hold" rating and set a $90.00 target price for the company in a report on Tuesday, July 1st. Finally, Robert W. Baird decreased 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 investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Carrier Global presently has a consensus rating of "Moderate Buy" and an average price target of $84.47.

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.