In a significant move within the corporate ranks of Carrier Global Corp (NYSE:CARR), President of Fire & Security, Jurgen Timperman, engaged in substantial trading of company stock, according to a recent filing with the Securities and Exchange Commission.
The transactions, which occurred on April 29, 2024, included both the acquisition and disposal of shares. Notably, Timperman sold a total of 160,773 shares of common stock, resulting in proceeds exceeding $12 million. The sales were executed at weighted average prices ranging from $61.6369 to $62.0162 per share.
In addition to the sales, Timperman also acquired shares through the exercise of stock appreciation rights, commonly referred to as SARs. The executive acquired 267,455 shares at prices between $16.55 and $38.33, totaling approximately $6.65 million. These transactions are part of a routine process where SARs are settled for shares as per the terms of the award.
However, the same day also saw a series of disposals under code "F," which are typically associated with the payment of exercise prices or taxes due upon the vesting of equity. Timperman disposed of shares with a total value close to $6.65 million at prices between $61.65 and $62.15.
For investors and market watchers, these transactions provide insight into the actions of high-ranking executives within Carrier Global. It's important to note that such trades are a regular part of executive compensation and stock ownership strategies and can be influenced by a variety of factors, including portfolio diversification and personal financial planning.
Carrier Global Corp, with its ticker symbol CARR, remains a key player in the air conditioning, heating, and refrigeration industry. As these transactions unfold, stakeholders continue to monitor the movements of company insiders for indications of confidence and strategic positioning within the market.
InvestingPro Insights
Carrier Global Corp (NYSE:CARR) has been demonstrating robust financial metrics and strategic growth, which is reflected in the recent performance of the company's stock. According to InvestingPro data, Carrier Global boasts a market capitalization of $55.07 billion, underscoring its significant presence in the Building Products industry. The company's P/E ratio, a key measure of its earnings valuation, stands at 42.64, with an adjusted figure of 38.12 for the last twelve months as of Q1 2024. This indicates a premium valuation, which may be justified by the company's growth prospects and market position.
The company has also experienced a healthy revenue growth of 9.35% over the last twelve months as of Q1 2024, further solidifying its financial stability. Investors may find Carrier's dividend policy particularly appealing, as the company has raised its dividend for 4 consecutive years, with a dividend yield of 1.24% as of December 2023. This demonstrates Carrier's commitment to returning value to its shareholders.
InvestingPro Tips for Carrier Global Corp highlight the company's expected net income growth this year and the fact that 7 analysts have revised their earnings upwards for the upcoming period. These are optimistic signals for potential investors, suggesting that the company is on a trajectory for continued financial success. Additionally, Carrier has shown a significant return over the last week, with a price total return of 12.27%, indicating strong short-term performance.
For those interested in gaining deeper insights and more InvestingPro Tips on Carrier Global Corp, you can find additional information at https://www.investing.com/pro/CARR. There are 14 additional InvestingPro Tips available, which could be invaluable for making informed investment decisions. To access these tips and a wealth of other financial data, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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