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% in the first quarter, Holdings Channel.com reports. The firm 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 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Carrier Global in the fourth quarter valued at approximately $380,299,000. Assenagon Asset Management S.A. boosted its position in shares of Carrier Global by 461.5% during 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 last quarter. Ontario Teachers Pension Plan Board bought a new stake in Carrier Global during the fourth quarter worth $99,839,000. PineStone Asset Management Inc. grew its holdings 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 raised its position in Carrier Global by 865.3% in the 4th quarter. Voloridge Investment Management LLC now owns 1,974,350 shares of the company’s stock valued at $104,325,000 after buying an additional 1,769,813 shares during the last quarter. 91.00% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Royal Bank Of Canada raised their price objective on Carrier Global from $71.00 to $81.00 and gave the company an “outperform” rating in a research note on Friday, May 1st. Rothschild & Co Redburn upped their target price on shares of Carrier Global from $61.00 to $73.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 5th. Argus increased their target price on shares of Carrier Global from $72.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Evercore raised their price target on shares of Carrier Global from $75.00 to $85.00 in a research report on Friday, May 1st. Finally, Weiss Ratings upgraded shares of Carrier Global from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, April 22nd. Twelve investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, Carrier Global currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.51.

Carrier Global Stock Performance

Shares of Carrier Global stock opened at $68.71 on Monday. The business’s fifty day simple moving average is $68.27 and its 200 day simple moving average is $62.70. The company has a current ratio of 1.05, a quick ratio of 0.75 and a debt-to-equity ratio of 0.76. Carrier Global Corporation has a 12 month low of $50.24 and a 12 month high of $81.09. The firm has a market capitalization of $57.07 billion, a P/E ratio of 45.20, a price-to-earnings-growth ratio of 2.75 and a beta of 1.31.

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

Carrier Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Tuesday, July 21st will be given a dividend of $0.24 per share. 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%.

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.