Vestmark Advisory Solutions Inc. Takes Position in Carrier Global Corporation $CARR

Key Points

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Vestmark Advisory Solutions Inc. acquired a new position in shares of Carrier Global Corporation (NYSE:CARR - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 6,530 shares of the company's stock, valued at approximately $414,000.

A number of other large investors also recently made changes to their positions in CARR. Syon Capital LLC grew its holdings in shares of Carrier Global by 2.2% during the fourth quarter. Syon Capital LLC now owns 7,089 shares of the company's stock worth $484,000 after purchasing an additional 155 shares during the last quarter. Lindbrook Capital LLC grew its holdings in shares of Carrier Global by 1.3% during the first quarter. Lindbrook Capital LLC now owns 12,294 shares of the company's stock worth $779,000 after purchasing an additional 156 shares during the last quarter. Code Waechter LLC grew its holdings in shares of Carrier Global by 5.1% during the first quarter. Code Waechter LLC now owns 3,383 shares of the company's stock worth $214,000 after purchasing an additional 164 shares during the last quarter. Chicago Partners Investment Group LLC grew its holdings in shares of Carrier Global by 2.9% during the first quarter. Chicago Partners Investment Group LLC now owns 6,055 shares of the company's stock worth $424,000 after purchasing an additional 168 shares during the last quarter. Finally, Essex Financial Services Inc. grew its holdings in shares of Carrier Global by 0.4% during the first quarter. Essex Financial Services Inc. now owns 41,778 shares of the company's stock worth $2,649,000 after purchasing an additional 173 shares during the last quarter. Institutional investors and hedge funds own 91.00% of the company's stock.

Carrier Global Trading Up 4.1%

CARR traded up $2.68 during midday trading on Friday, reaching $67.69. 5,534,971 shares of the company were exchanged, compared to its average volume of 5,652,787. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.80 and a current ratio of 1.17. Carrier Global Corporation has a one year low of $54.22 and a one year high of $83.32. The stock has a market capitalization of $57.61 billion, a P/E ratio of 14.75, a PEG ratio of 1.86 and a beta of 1.25. The stock's 50-day simple moving average is $71.78 and its 200 day simple moving average is $68.22.

Carrier Global (NYSE:CARR - Get Free Report) last issued its earnings results on Tuesday, July 29th. The company reported $0.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.90 by $0.02. Carrier Global had a return on equity of 17.83% and a net margin of 18.33%.The firm had revenue of $6.11 billion for the quarter, compared to analysts' expectations of $6.08 billion. Carrier Global has set its FY 2025 guidance at 3.000-3.100 EPS. As a group, analysts forecast that Carrier Global Corporation will post 2.99 earnings per share for the current fiscal year.

Carrier Global Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Monday, July 21st were issued a dividend of $0.225 per share. The ex-dividend date was Monday, July 21st. This represents a $0.90 dividend on an annualized basis and a yield of 1.3%. Carrier Global's dividend payout ratio (DPR) is 19.61%.

Insider Transactions at Carrier Global

In other Carrier Global news, Director Maximilian Viessmann sold 4,267,425 shares of the firm's stock in a transaction dated 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 transaction, the director owned 54,341,534 shares in the company, valued at approximately $3,820,209,840.20. This trade represents a 7.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 7.20% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CARR. Robert W. Baird decreased 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. Barclays lowered their price objective on Carrier Global from $84.00 to $82.00 and set an "overweight" rating for the company in a research report on Wednesday, July 30th. Northcoast Research upgraded Carrier Global from a "neutral" rating to a "buy" rating and set a $85.00 price objective for the company in a research report on Friday, May 9th. Melius Research upgraded Carrier Global to a "hold" rating and set a $90.00 price objective for the company in a research report on Tuesday, July 1st. Finally, JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $79.00 price objective on shares of Carrier Global in a research report on Tuesday, July 15th. Ten research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $84.47.

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.