Carrier Global Corporation $CARR Shares Purchased by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP increased its stake in Carrier Global Corporation by 11.1%, acquiring an additional 20,120 shares, bringing its total holdings to 201,781 shares valued at approximately $12.79 million.
• Carrier Global reported earnings of $0.92 per share for the last quarter, surpassing analysts' expectations, with revenues of $6.11 billion.
• The company announced a quarterly dividend of $0.225 per share, translating to an annualized yield of 1.3%, with a current payout ratio of 19.61%.

Wellington Management Group LLP grew its position in Carrier Global Corporation (NYSE:CARR - Free Report) by 11.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 201,781 shares of the company's stock after acquiring an additional 20,120 shares during the quarter. Wellington Management Group LLP's holdings in Carrier Global were worth $12,793,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CARR. Park Square Financial Group LLC bought a new position in shares of Carrier Global in the fourth quarter worth about $28,000. Mattson Financial Services LLC bought a new position in shares of Carrier Global in the fourth quarter worth about $31,000. Investment Research & Advisory Group Inc. bought a new position in shares of Carrier Global in the first quarter worth about $29,000. Mascagni Wealth Management Inc. bought a new position in shares of Carrier Global in the fourth quarter worth about $35,000. Finally, Wood Tarver Financial Group LLC bought a new position in shares of Carrier Global in the fourth quarter worth about $37,000. Hedge funds and other institutional investors own 91.00% of the company's stock.

Carrier Global Stock Performance

CARR stock traded down $1.87 during trading on Tuesday, reaching $63.33. The company had a trading volume of 6,414,682 shares, compared to its average volume of 4,666,465. The firm has a 50-day simple moving average of $71.08 and a 200-day simple moving average of $68.25. The company has a market cap of $53.90 billion, a price-to-earnings ratio of 13.80, a price-to-earnings-growth ratio of 1.79 and a beta of 1.25. 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 twelve month low of $54.22 and a twelve month high of $83.32.

Carrier Global (NYSE:CARR - Get Free Report) last released its earnings results on Tuesday, July 29th. The company reported $0.92 EPS for the quarter, topping analysts' consensus estimates of $0.90 by $0.02. The company had revenue of $6.11 billion during the quarter, compared to analysts' expectations 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. As a group, sell-side analysts expect that Carrier Global Corporation will post 2.99 earnings per share for the current year.

Carrier Global Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Monday, July 21st were given a dividend of $0.225 per share. 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 (DPR) is currently 19.61%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Melius assumed coverage on shares of Carrier Global in a report on Tuesday, July 1st. They set a "hold" rating and a $90.00 target price on the stock. Morgan Stanley dropped their target price on shares of Carrier Global from $78.00 to $75.00 and set an "equal weight" rating on the stock in a report on Friday, August 8th. Barclays dropped their target price on shares of Carrier Global from $84.00 to $82.00 and set an "overweight" rating on the stock in a report on Wednesday, July 30th. Robert W. Baird lowered their price target on shares of Carrier Global from $85.00 to $84.00 and set an "outperform" rating on the stock in a report on Wednesday, July 30th. Finally, Northcoast Research upgraded shares of Carrier Global from a "neutral" rating to a "buy" rating and set a $85.00 price target on the stock in a report on Friday, May 9th. Ten investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $84.47.

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 that occurred on Thursday, June 5th. The shares were 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 of the company's stock, valued at approximately $3,820,209,840.20. This trade represents a 7.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 7.20% of the company's stock.

Carrier Global 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.