WPG Advisers LLC Invests $53,000 in Carrier Global Corporation $CARR

WPG Advisers LLC bought a new stake in Carrier Global Corporation (NYSE:CARR) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 842 shares of the company’s stock, valued at approximately $53,000.

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

Insider Activity

In other news, Director Maximilian Viessmann sold 4,267,425 shares of Carrier Global stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $70.30, for a total value of $299,999,977.50. Following the completion of the sale, the director directly owned 54,341,534 shares in the company, valued at $3,820,209,840.20. The trade was a 7.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 7.20% of the stock is currently owned by insiders.

Carrier Global Stock Performance

Shares of CARR opened at $65.23 on Friday. The company has a market cap of $55.51 billion, a price-to-earnings ratio of 14.21, a P/E/G ratio of 1.79 and a beta of 1.25. The business’s fifty day simple moving average is $71.39 and its two-hundred day simple moving average is $68.25. Carrier Global Corporation has a 12 month low of $54.22 and a 12 month high of $83.32. 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) last posted 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 firm had revenue of $6.11 billion during the quarter, compared to analysts’ expectations 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. Research analysts anticipate 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 paid a dividend of $0.225 per share. The ex-dividend date was Monday, July 21st. This represents a $0.90 annualized dividend and a yield of 1.4%. Carrier Global’s dividend payout ratio is currently 19.61%.

Wall Street Analysts Forecast Growth

CARR has been the subject of a number of analyst reports. Northcoast Research raised shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $85.00 target price for the company in a research note on Friday, May 9th. Morgan Stanley reduced their price objective 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. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $79.00 target price on shares of Carrier Global in a report on Tuesday, July 15th. Citigroup reissued a “buy” rating and issued a $89.00 target price (up from $82.00) on shares of Carrier Global in a research note on Monday, July 14th. Finally, Robert W. Baird lowered their price target 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. Ten 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.com, the company 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.