Carrier Global Corp (NYSE:CARR) has reported a recent transaction involving Kyle Crockett, the company's Vice President, Controller, and Chief Accounting Officer, according to a new SEC filing. On May 21, 2024, Crockett engaged in a series of transactions that resulted in the sale of company stock worth over $300,000.
The executive sold a total of 4,611 shares of Carrier Global common stock at an average price of $66.392, netting approximately $306,133 from the sale. This transaction followed the acquisition of 7,500 shares through the exercise of stock appreciation rights (SARs), which were immediately sold back to the company at a price of $25.58 per share, in a combination of transactions valued at $191,850. Additionally, Crockett disposed of 2,889 shares through a transaction priced at $66.39 per share, totaling about $191,800.
Following these transactions, Crockett's direct ownership in the company stands at 2,042 shares of common stock. These filings provide transparency into the trading activities of the company's executives and are routinely disclosed in accordance with SEC regulations.
Investors and the market often monitor such insider transactions for insights into executive sentiment and potential future performance of the company's stock. Carrier Global, known for its air conditioning and refrigeration solutions, continues to be a significant player in the industrial sector, and movements by its top executives are closely watched.
InvestingPro Insights
As Carrier Global Corp (NYSE:CARR) navigates the market, recent insider transactions have drawn attention to the company's financial health and future prospects. The sale of stock by Vice President Kyle Crockett has coincided with a period of notable performance and valuation metrics for Carrier Global. According to InvestingPro, the company boasts a robust market capitalization of $58.01 billion, reflecting its significant presence in the industry.
InvestingPro Data reveals that Carrier Global is trading at an earnings multiple of 44.16, which, while indicating a high valuation, aligns with the company's strong market position. Adjusted for the last twelve months as of Q1 2024, the P/E ratio stands at a slightly lower 40.15. This high P/E ratio may suggest investor confidence in the company's future growth, supported by the InvestingPro Tip that net income is expected to grow this year. Additionally, the company's Price / Book ratio is at 5.02, pointing towards a premium valuation that the market is willing to pay for its assets.
Another InvestingPro Tip highlights that Carrier Global has raised its dividend for four consecutive years, a testament to its commitment to returning value to shareholders. The company's dividend yield is currently 1.16%, with a dividend growth rate of 2.7% over the last twelve months as of Q1 2024, signaling steady income for investors. Furthermore, analysts have shown optimism about Carrier Global's earnings, with 9 analysts revising their earnings estimates upwards for the upcoming period.
For those looking to delve deeper into Carrier Global's financials and performance metrics, InvestingPro offers additional insights. There are 15 more InvestingPro Tips available, which can help investors make more informed decisions. To access these insights and more, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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