Carrier Global Corporation $CARR Shares Purchased by Trexquant Investment LP

Key Points

• Trexquant Investment LP significantly increased its stake in Carrier Global Corporation by 596.4%, acquiring 400,926 shares and raising its total holdings to approximately 468,145 shares worth $29.68 million.
• Major hedge funds have also been active, with 91% of Carrier Global's stock owned by institutional investors, indicating strong confidence in the company.
• Carrier Global reported a Q2 EPS of $0.92, surpassing analyst expectations, and declared a quarterly dividend of $0.225, with a yield of 1.3%.

Trexquant Investment LP lifted its stake in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 596.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 468,145 shares of the company's stock after buying an additional 400,926 shares during the period. Trexquant Investment LP owned approximately 0.05% of Carrier Global worth $29,680,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Park Square Financial Group LLC acquired a new stake in shares of Carrier Global during the fourth quarter worth $28,000. Accredited Wealth Management LLC acquired a new stake in Carrier Global during the 1st quarter worth about $28,000. Investment Research & Advisory Group Inc. purchased a new position in shares of Carrier Global during the 1st quarter valued at about $29,000. Mattson Financial Services LLC acquired a new position in shares of Carrier Global in the 4th quarter valued at about $31,000. Finally, Mascagni Wealth Management Inc. purchased a new stake in shares of Carrier Global in the fourth quarter worth about $35,000. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Carrier Global

In other news, Director Maximilian Viessmann sold 4,267,425 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $70.30, for a total transaction of $299,999,977.50. Following the completion of the transaction, the director directly owned 54,341,534 shares in the company, valued at $3,820,209,840.20. This trade represents a 7.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 7.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Northcoast Research upgraded Carrier Global from a "neutral" rating to a "buy" rating and set a $85.00 price target for the company in a research report on Friday, May 9th. Royal Bank Of Canada reduced their price target on Carrier Global from $89.00 to $87.00 and set an "outperform" rating for the company in a report on Wednesday, July 30th. Citigroup restated a "buy" rating and issued a $89.00 price objective (up from $82.00) on shares of Carrier Global in a research report on Monday, July 14th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $79.00 price target on shares of Carrier Global in a research note on Tuesday, July 15th. Finally, Wells Fargo & Company increased their target price on shares of Carrier Global from $65.00 to $75.00 and gave the company an "equal weight" rating in a research report on Monday, May 5th. Ten equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $84.47.

Carrier Global Trading Down 1.4%

CARR traded down $0.95 on Friday, hitting $65.23. The company had a trading volume of 6,863,604 shares, compared to its average volume of 4,837,555. The firm has a market cap of $55.51 billion, a P/E ratio of 14.21, a PEG ratio of 1.79 and a beta of 1.25. Carrier Global Corporation has a 1 year low of $54.22 and a 1 year high of $83.32. The company's fifty day moving average price is $71.39 and its 200 day moving average price is $68.25. 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 released its quarterly earnings results 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. Carrier Global had a net margin of 18.33% and a return on equity of 17.83%. The business had revenue of $6.11 billion for the quarter, compared to the consensus estimate of $6.08 billion. Carrier Global has set its FY 2025 guidance at 3.000-3.100 EPS. As a group, equities analysts expect that Carrier Global Corporation will post 2.99 earnings per share for the current year.

Carrier Global Dividend Announcement

The company also recently declared 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 (DPR) is currently 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.