Nordea Investment Management AB Sells 14,181 Shares of Carrier Global Co. (NYSE:CARR)

Posted by Defense World Staff on May 13th, 2023

Nordea Investment Management AB reduced its position in shares of Carrier Global Co. (NYSE:CARR – Get Rating) by 19.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 59,007 shares of the company’s stock after selling 14,181 shares during the period. Nordea Investment Management AB’s holdings in Carrier Global were worth $2,440,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in CARR. Nuveen Asset Management LLC increased its position in Carrier Global by 3.4% in the 3rd quarter. Nuveen Asset Management LLC now owns 17,108,963 shares of the company’s stock valued at $608,395,000 after acquiring an additional 558,801 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Carrier Global by 8.0% in the third quarter. Dimensional Fund Advisors LP now owns 7,394,883 shares of the company’s stock worth $262,974,000 after purchasing an additional 550,548 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Carrier Global by 126.0% in the first quarter. Renaissance Technologies LLC now owns 5,306,931 shares of the company’s stock valued at $243,429,000 after purchasing an additional 2,958,400 shares during the period. Fisher Asset Management LLC raised its position in Carrier Global by 6.5% during the 4th quarter. Fisher Asset Management LLC now owns 5,197,656 shares of the company’s stock worth $214,403,000 after purchasing an additional 315,297 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in Carrier Global by 59.5% during the 1st quarter. Invesco Ltd. now owns 4,948,588 shares of the company’s stock worth $226,992,000 after buying an additional 1,845,419 shares during the period. Institutional investors and hedge funds own 85.21% of the company’s stock.

Insiders Place Their Bets

In other news, VP Nadia Villeneuve sold 20,538 shares of the stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $45.45, for a total transaction of $933,452.10. Following the completion of the transaction, the vice president now directly owns 48,900 shares of the company’s stock, valued at approximately $2,222,505. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.38% of the company’s stock.

Carrier Global Price Performance

Shares of NYSE CARR opened at $42.40 on Friday. The company has a market capitalization of $35.40 billion, a PE ratio of 14.32, a PEG ratio of 1.62 and a beta of 1.32. The company has a quick ratio of 1.23, a current ratio of 1.70 and a debt-to-equity ratio of 1.03. The stock’s 50 day moving average price is $43.84 and its 200-day moving average price is $43.50. Carrier Global Co. has a twelve month low of $33.10 and a twelve month high of $49.17.

Carrier Global (NYSE:CARR – Get Rating) last issued its quarterly earnings results on Tuesday, April 25th. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.03. The business had revenue of $5.27 billion for the quarter, compared to analyst estimates of $5.05 billion. Carrier Global had a return on equity of 25.56% and a net margin of 12.02%. Carrier Global’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period last year, the company posted $0.54 earnings per share. On average, equities analysts anticipate that Carrier Global Co. will post 2.57 EPS for the current year.

Carrier Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 24th. Investors of record on Friday, May 5th will be issued a dividend of $0.185 per share. The ex-dividend date of this dividend is Thursday, May 4th. This represents a $0.74 dividend on an annualized basis and a yield of 1.75%. Carrier Global’s dividend payout ratio (DPR) is presently 25.00%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CARR. Citigroup raised their price objective on Carrier Global from $45.00 to $48.00 and gave the stock a “neutral” rating in a research report on Thursday, February 9th. Mizuho restated a “buy” rating and set a $53.00 price target on shares of Carrier Global in a report on Wednesday, February 8th. 92 Resources restated a “maintains” rating on shares of Carrier Global in a research report on Monday, May 1st. Stephens reiterated an “overweight” rating and set a $55.00 price objective on shares of Carrier Global in a research report on Wednesday, February 8th. Finally, 1-800-FLOWERS.COM restated a “maintains” rating on shares of Carrier Global in a report on Thursday, April 27th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $49.07.

Carrier Global Company Profile

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Carrier Global Corporation provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies worldwide. It operates through three segments: HVAC, Refrigeration, and Fire & Security. The HVAC segment provides products, controls, services, and solutions to meet the heating, cooling, and ventilation needs of residential and commercial customers.