AIA Group Ltd Sells 41,168 Shares of Carrier Global Corporation $CARR

AIA Group Ltd lowered its stake in shares of Carrier Global Corporation (NYSE:CARR) by 37.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 69,221 shares of the company’s stock after selling 41,168 shares during the period. AIA Group Ltd’s holdings in Carrier Global were worth $3,898,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of CARR. Norges Bank bought a new position in shares of Carrier Global in the fourth quarter valued at about $380,299,000. Assenagon Asset Management S.A. boosted its stake in shares of Carrier Global by 461.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,460,321 shares of the company’s stock valued at $130,003,000 after buying an additional 2,022,136 shares during the period. Ontario Teachers Pension Plan Board bought a new stake in shares of Carrier Global during the 4th quarter valued at $99,839,000. PineStone Asset Management Inc. grew its stake in Carrier Global by 34.6% during the fourth quarter. PineStone Asset Management Inc. now owns 7,153,429 shares of the company’s stock worth $377,987,000 after buying an additional 1,837,985 shares in the last quarter. Finally, Voloridge Investment Management LLC boosted its position in shares of Carrier Global by 865.3% during the 4th quarter. Voloridge Investment Management LLC now owns 1,974,350 shares of the company’s stock worth $104,325,000 after acquiring an additional 1,769,813 shares in the last quarter. 91.00% of the stock is owned by institutional investors.

Carrier Global Stock Performance

NYSE:CARR opened at $68.71 on Monday. The company has a quick ratio of 0.75, a current ratio of 1.05 and a debt-to-equity ratio of 0.76. Carrier Global Corporation has a twelve month low of $50.24 and a twelve month high of $81.09. The company has a fifty day moving average of $68.27 and a 200-day moving average of $62.70. The firm has a market capitalization of $57.07 billion, a P/E ratio of 45.20, a P/E/G ratio of 2.75 and a beta of 1.31.

Carrier Global (NYSE:CARR) last issued its earnings results on Thursday, April 30th. The company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.06. The business had revenue of $5.34 billion for the quarter, compared to analyst estimates of $5.01 billion. Carrier Global had a net margin of 5.99% and a return on equity of 14.81%. Carrier Global’s revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.65 earnings per share. Carrier Global has set its FY 2026 guidance at 2.800-2.800 EPS. As a group, sell-side analysts anticipate that Carrier Global Corporation will post 2.79 EPS for the current year.

Carrier Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, July 21st will be issued a $0.24 dividend. The ex-dividend date is Tuesday, July 21st. This represents a $0.96 annualized dividend and a yield of 1.4%. Carrier Global’s dividend payout ratio is presently 63.16%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on CARR shares. Evercore raised their price objective on Carrier Global from $75.00 to $85.00 in a research note on Friday, May 1st. The Goldman Sachs Group lifted their target price on Carrier Global from $74.00 to $80.00 in a report on Friday, May 1st. JPMorgan Chase & Co. raised their price objective on Carrier Global from $63.00 to $67.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Argus upped their target price on Carrier Global from $72.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Finally, Royal Bank Of Canada increased their target price on shares of Carrier Global from $71.00 to $81.00 and gave the company an “outperform” rating in a research report on Friday, May 1st. Twelve analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $73.51.

About Carrier Global

Carrier Global Corporation is a leading global provider of heating, ventilation and air conditioning (HVAC), refrigeration, fire and security, and building automation solutions. The company designs, manufactures and sells a broad portfolio of products that includes air conditioners, furnaces, heat pumps, chillers, rooftop units, commercial refrigeration systems, fire and smoke detection and suppression systems, security sensors and access controls, and a range of building controls and analytics software.