Carrier Global Corp 's (NYSE:CARR) Senior Vice President and Chief Human Resources Officer, Nadia Villeneuve, has sold shares worth over $6.4 million, according to the company's latest SEC filing. The transactions occurred on May 10, with the sale prices for the shares ranging from $65.27 to $65.53.
Villeneuve executed multiple transactions on the same day, which included acquiring and disposing of shares. The executive acquired a total of 107,797 shares of Carrier Global common stock through the exercise of stock appreciation rights, with exercise prices ranging from $15.98 to $21.43, amounting to a total of approximately $2.18 million. Following these acquisitions, Villeneuve's ownership in the company increased significantly.
However, on the same day, Villeneuve also sold 98,428 shares at a weighted average price of $65.4048, netting a total of approximately $6.44 million. This sale reduced her total holdings in Carrier Global to 85,028 shares.
In addition to the sale, Villeneuve also reported a transaction coded as "F," representing the payment of exercise price or tax liability by delivering or withholding securities incident to the receipt, exercise, or vesting of a security issued in accordance with Rule 16b-3. This transaction involved the disposition of 33,369 shares at a price of $65.43 per share, equating to a total value of approximately $2.18 million.
Investors often monitor insider transactions as they provide insights into executives' perspectives on the company's current valuation and future prospects. Such transactions are required to be reported to the SEC and are publicly disclosed to ensure transparency in the financial markets.
Carrier Global, known for its air conditioning and refrigeration solutions, has been a key player in the industrial sector, with its stock performance being closely watched by investors.
For those interested in the detailed transactions, the full information is available on the SEC's website under the Form 4 filing for Carrier Global Corp.
InvestingPro Insights
As Carrier Global Corp's (NYSE:CARR) Senior Vice President and Chief Human Resources Officer, Nadia Villeneuve, engages in significant stock transactions, investors are keen to understand the broader financial context in which these moves occur. Carrier Global, a prominent player in the Building Products industry, has shown strong financial performance with several positive indicators highlighted by InvestingPro.
The company's market capitalization stands at a robust 58.49 billion USD, reflecting investor confidence and a substantial size within its sector. With a Price/Earnings (P/E) ratio of 44.42, Carrier Global is trading at a high earnings multiple, which suggests that investors are willing to pay a premium for its earnings potential. This is further substantiated by the adjusted P/E ratio for the last twelve months as of Q1 2024, which is slightly lower at 40.49, indicating a slight adjustment in valuation.
InvestingPro Tips for Carrier Global highlight the company's consistent performance and growth prospects. Carrier has raised its dividend for four consecutive years, signaling a commitment to returning value to shareholders. Additionally, net income is expected to grow this year, and 9 analysts have revised their earnings upwards for the upcoming period, indicating a positive outlook on the company's profitability.
Investors considering Carrier Global's stock can also explore the full range of 16 InvestingPro Tips available on the platform, which provide deeper insights into the company's financial health and market position. To access these insights, investors can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro.
With the next earnings date set for July 25, 2024, and a strong return over the last year of 55.4%, Carrier Global remains a key stock to watch in the industrial sector. The company's performance, coupled with strategic insights from InvestingPro, can help investors make informed decisions.
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