Tocqueville Asset Management L.P. Increases Holdings in Carrier Global Corporation $CARR

Key Points

• Tocqueville Asset Management L.P. increased its holdings in Carrier Global Corporation by 5.3%, now owning shares worth approximately $22.75 million.
• Institutional investors and hedge funds own 91% of Carrier Global's stock, reflecting strong interest from major financial institutions.
• Carrier Global recently declared a quarterly dividend of $0.225 per share, which represents an annualized yield of 1.4%.

Tocqueville Asset Management L.P. boosted its stake in Carrier Global Corporation (NYSE:CARR - Free Report) by 5.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 358,813 shares of the company's stock after acquiring an additional 17,973 shares during the period. Tocqueville Asset Management L.P.'s holdings in Carrier Global were worth $22,749,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Golden State Wealth Management LLC lifted its holdings in shares of Carrier Global by 51.8% in the 1st quarter. Golden State Wealth Management LLC now owns 1,389 shares of the company's stock worth $88,000 after purchasing an additional 474 shares in the last quarter. Bessemer Group Inc. lifted its holdings in shares of Carrier Global by 15.7% in the 1st quarter. Bessemer Group Inc. now owns 28,768 shares of the company's stock worth $1,823,000 after purchasing an additional 3,900 shares in the last quarter. Ensign Peak Advisors Inc lifted its holdings in shares of Carrier Global by 27.8% in the 4th quarter. Ensign Peak Advisors Inc now owns 1,314,180 shares of the company's stock worth $89,706,000 after purchasing an additional 285,803 shares in the last quarter. Sowell Financial Services LLC bought a new position in shares of Carrier Global in the 1st quarter worth $234,000. Finally, Aberdeen Group plc lifted its holdings in shares of Carrier Global by 1.8% in the 1st quarter. Aberdeen Group plc now owns 717,658 shares of the company's stock worth $44,854,000 after purchasing an additional 12,346 shares in the last quarter. 91.00% of the stock is currently owned by institutional investors.

Carrier Global Stock Down 2.5%

Shares of NYSE:CARR traded down $1.7040 on Thursday, reaching $65.1360. The company had a trading volume of 4,472,625 shares, compared to its average volume of 5,266,127. Carrier Global Corporation has a 52-week low of $54.22 and a 52-week high of $83.32. The firm's 50 day simple moving average is $72.00 and its 200-day simple moving average is $68.13. The firm has a market capitalization of $55.43 billion, a PE ratio of 14.20, a PEG ratio of 1.84 and a beta of 1.25. The company has a current ratio of 1.17, a quick ratio of 0.80 and a debt-to-equity ratio of 0.76.

Carrier Global (NYSE:CARR - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.02. The firm had revenue of $6.11 billion for the quarter, compared to the consensus estimate 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. As a group, analysts expect 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 issued a $0.225 dividend. The ex-dividend date of this dividend was Monday, July 21st. This represents a $0.90 dividend on an annualized basis and a yield of 1.4%. Carrier Global's dividend payout ratio is presently 19.61%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CARR shares. Morgan Stanley decreased 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. Melius Research raised shares of Carrier Global to a "hold" rating and set a $90.00 target price on the stock in a report on Tuesday, July 1st. Robert W. Baird lowered their price objective on Carrier Global from $85.00 to $84.00 and set an "outperform" rating for the company in a research report on Wednesday, July 30th. Citigroup reiterated a "buy" rating and issued a $89.00 price target (up previously from $82.00) on shares of Carrier Global in a report on Monday, July 14th. Finally, The Goldman Sachs Group reissued a "buy" rating on shares of Carrier Global in a research report on Wednesday, May 21st. Ten investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, Carrier Global presently has an average rating of "Moderate Buy" and a consensus price target of $84.47.

Insiders Place Their Bets

In related news, Director Maximilian Viessmann sold 4,267,425 shares of the company's stock in a transaction dated Thursday, June 5th. The stock was 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 owned 54,341,534 shares of the company's stock, valued at approximately $3,820,209,840.20. This represents a 7.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed 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.