Hartford Investment Management Co. recently made waves in the stock market analysis community by significantly adjusting its Carrier Global Stock holdings. This move, detailed in its latest SEC filings, saw the firm trim its stake in the multinational conglomerate, sparking discussions among institutional investors about broader market strategies.
According to its most recent disclosure, Hartford Investment Management Co. reduced its position in Carrier Global Corporation (CARR) by 4.6% during the first quarter. This adjustment resulted in the sale of 2,361 shares, leaving the institutional investor with a substantial 49,279 shares of the company’s stock, valued at $3,124,000 as per the filing.
Hartford’s actions are not isolated, as various other hedge funds and large institutional investors have also recalibrated their CARR stakes. Notably, Ritter Daniher Financial Advisory LLC DE dramatically increased its position by 90.0% in Q4, while others like Park Square Financial Group LLC, Investment Research & Advisory Group Inc., Mattson Financial Services LLC, and Mascagni Wealth Management Inc. established new positions, underscoring varied investment perspectives within the financial news landscape. Overall, a commanding 91.00% of Carrier Global’s stock is now owned by hedge funds and other institutional entities.
Beyond portfolio adjustments, significant insider trading activity has also shaped the Carrier Global Stock narrative. A director recently divested a considerable 4,267,425 shares on June 5th at an average price of $70.30, totaling nearly $300 million. This transaction, also documented in an SEC Filing, reduced the director’s direct ownership to 54,341,534 shares, valued at over $3.8 billion, representing a 7.28% decrease in their overall stake.
On the open market, CARR shares commenced trading at $66.90 on a recent Friday, reflecting ongoing stock market analysis. The company boasts a robust market capitalization of $56.93 billion, coupled with a price-to-earnings ratio of 14.58, a price-to-earnings-growth ratio of 1.88, and a beta of 1.26, indicating its market volatility relative to the broader market.
Further examination of Carrier Global’s financial health reveals a current ratio of 1.17, a quick ratio of 0.83, and a debt-to-equity ratio of 0.76, providing a snapshot for institutional investors evaluating liquidity and leverage. The Carrier Global Stock has traded within a 12-month range of $54.22 to $83.32, with recent moving averages showing a 50-day average price of $73.35 and a 200-day average of $68.33.
In terms of earnings, Carrier Global exceeded expectations in its quarterly report issued on July 29th, posting $0.92 EPS against a consensus estimate of $0.90. The firm’s revenue reached $6.11 billion, slightly above the $6.08 billion forecast. These strong results contributed to a healthy net margin of 18.33% and a return on equity of 17.83%, reinforcing positive financial news for shareholders. Equity analysts are projecting an impressive 2.99 EPS for the company’s current fiscal year.
The company also recently announced a quarterly dividend of $0.225 per share, payable on August 8th to stockholders of record by July 21st. This translates to an annualized dividend of $0.90 and a dividend yield of 1.3%, with a payout ratio of 19.61%. Such dividend actions are keenly observed by institutional investors as indicators of a company’s financial stability and commitment to shareholder returns.
Carrier Global Corporation operates globally, providing essential heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies across the United States, Europe, and Asia Pacific. Its operations are strategically segmented into HVAC, Refrigeration, and Fire & Security, showcasing a diversified business model that underpins its presence in global stock market analysis.
