Carrier Global Corporation $CARR Shares Purchased by Vident Advisory LLC

Key Points

• Vident Advisory LLC increased its stake in Carrier Global Corporation by 13.2%, acquiring an additional 29,543 shares and holding a total of 254,180 shares valued at $16.1 million.
• Director Maximilian Viessmann sold a significant portion of his shares, amounting to over 4.26 million shares, resulting in a 7.28% decrease in his ownership, while he still holds around $3.82 billion in shares.
• Carrier Global reported earnings of $0.92 per share for the last quarter, surpassing estimates, and has set a FY 2025 guidance range of 3.000 to 3.100 EPS, indicating positive performance prospects.

Vident Advisory LLC boosted its position in Carrier Global Corporation (NYSE:CARR - Free Report) by 13.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 254,180 shares of the company's stock after purchasing an additional 29,543 shares during the quarter. Vident Advisory LLC's holdings in Carrier Global were worth $16,115,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC lifted its position in Carrier Global by 51.8% during the first quarter. Golden State Wealth Management LLC now owns 1,389 shares of the company's stock worth $88,000 after buying an additional 474 shares in the last quarter. Bessemer Group Inc. grew its stake in shares of Carrier Global by 15.7% in the first quarter. Bessemer Group Inc. now owns 28,768 shares of the company's stock valued at $1,823,000 after buying an additional 3,900 shares in the last quarter. Ensign Peak Advisors Inc boosted its holdings in Carrier Global by 27.8% in the fourth quarter. Ensign Peak Advisors Inc now owns 1,314,180 shares of the company's stock valued at $89,706,000 after purchasing an additional 285,803 shares during the period. Sowell Financial Services LLC purchased a new position in Carrier Global in the first quarter valued at $234,000. Finally, Aberdeen Group plc boosted its holdings in Carrier Global by 1.8% in the first quarter. Aberdeen Group plc now owns 717,658 shares of the company's stock valued at $44,854,000 after purchasing an additional 12,346 shares during the period. Hedge funds and other institutional investors own 91.00% of the company's stock.

Insider Activity

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 sale, the director 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 document filed with the Securities & Exchange Commission, which is available through this link. 7.20% of the stock is owned by company insiders.

Carrier Global Price Performance

Carrier Global stock traded down $1.45 during mid-day trading on Wednesday, hitting $62.06. 2,940,495 shares of the company were exchanged, compared to its average volume of 5,308,707. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.17 and a quick ratio of 0.80. The business's 50 day simple moving average is $71.08 and its two-hundred day simple moving average is $68.25. The company has a market capitalization of $52.81 billion, a P/E ratio of 13.55, a PEG ratio of 1.79 and a beta of 1.25. Carrier Global Corporation has a 12-month low of $54.22 and a 12-month high of $83.32.

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 for the quarter, topping the consensus estimate of $0.90 by $0.02. The company had revenue of $6.11 billion during 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. Analysts forecast that Carrier Global Corporation will post 2.99 earnings per share for the current fiscal year.

Carrier Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 8th. Stockholders 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 annualized dividend and a dividend yield of 1.5%. Carrier Global's dividend payout ratio (DPR) is 19.61%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $79.00 price target on shares of Carrier Global in a report on Tuesday, July 15th. Morgan Stanley reduced their target price on Carrier Global from $78.00 to $75.00 and set an "equal weight" rating for the company in a report on Friday, August 8th. Citigroup reaffirmed a "buy" rating and set a $89.00 price objective (up from $82.00) on shares of Carrier Global in a research note on Monday, July 14th. The Goldman Sachs Group reissued a "buy" rating on shares of Carrier Global in a research note on Wednesday, May 21st. Finally, Robert W. Baird cut their target price on Carrier Global from $85.00 to $84.00 and set an "outperform" rating for the company in a research note on Wednesday, July 30th. Ten analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price 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.