Monetary Management Group Inc. Sells 375 Shares of Carrier Global Corporation $CARR

Monetary Management Group Inc. reduced its holdings in shares of Carrier Global Corporation (NYSE:CARR) by 18.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,700 shares of the company’s stock after selling 375 shares during the quarter. Monetary Management Group Inc.’s holdings in Carrier Global were worth $108,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CARR. Nuveen LLC acquired a new position in Carrier Global during the first quarter worth $649,512,000. JPMorgan Chase & Co. lifted its position in Carrier Global by 17.6% during the 1st quarter. JPMorgan Chase & Co. now owns 31,126,869 shares of the company’s stock worth $1,973,444,000 after buying an additional 4,668,929 shares in the last quarter. Brown Advisory Inc. boosted its stake in shares of Carrier Global by 82.6% during the 1st quarter. Brown Advisory Inc. now owns 9,673,979 shares of the company’s stock worth $613,330,000 after buying an additional 4,377,402 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Carrier Global by 16.7% in the 4th quarter. Northern Trust Corp now owns 8,847,377 shares of the company’s stock valued at $603,922,000 after acquiring an additional 1,266,137 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its position in shares of Carrier Global by 2,484.0% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,122,545 shares of the company’s stock valued at $76,625,000 after acquiring an additional 1,079,103 shares during the last quarter. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Wells Fargo & Company upped their target price on Carrier Global from $65.00 to $75.00 and gave the stock an “equal weight” rating in a report on Monday, May 5th. Northcoast Research upgraded Carrier Global from a “neutral” rating to a “buy” rating and set a $85.00 price objective on the stock in a research note on Friday, May 9th. Melius Research raised Carrier Global to a “hold” rating and set a $90.00 price objective for the company in a report on Tuesday, July 1st. Melius began 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. Finally, Robert W. Baird dropped their price target on shares of Carrier Global from $85.00 to $84.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 30th. Ten analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $84.47.

Carrier Global Trading Up 4.1%

CARR stock opened at $67.69 on Friday. Carrier Global Corporation has a one year low of $54.22 and a one year high of $83.32. The stock has a market cap of $57.61 billion, a price-to-earnings ratio of 14.75, a price-to-earnings-growth ratio of 1.79 and a beta of 1.25. The company has a fifty day moving average price of $71.78 and a two-hundred day moving average price of $68.17. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.17 and a quick ratio of 0.80.

Carrier Global (NYSE:CARR) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.02. The company had revenue of $6.11 billion for the quarter, compared to analyst estimates 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. Equities analysts anticipate that Carrier Global Corporation will post 2.99 EPS for the current year.

Carrier Global Announces Dividend

The business also recently disclosed 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 was Monday, July 21st. This represents a $0.90 annualized dividend and a yield of 1.3%. Carrier Global’s dividend payout ratio (DPR) is 19.61%.

Insider Activity

In other news, Director Maximilian Viessmann sold 4,267,425 shares of the company’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $70.30, for a total value of $299,999,977.50. Following the transaction, the director owned 54,341,534 shares of the company’s stock, valued at approximately $3,820,209,840.20. This 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 can be accessed through this link. 7.20% of the stock is currently owned by corporate insiders.

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.