Carrier Global VP sells $1.23 million in stock

Kyle Crockett, Vice President, Controller, and Chief Accounting Officer at Carrier Global Corp (NYSE:CARR), recently sold 18,945 shares of the company’s common stock. The sale, conducted on February 14, 2025, was executed at an average price of $65.1826 per share, totaling approximately $1.23 million. The transaction occurred near the stock’s current trading price of $65.98, with the company commanding a market capitalization of $57.27 billion. According to InvestingPro analysis, CARR currently trades at a P/E ratio of 10.58 and shows signs of being slightly overvalued relative to its Fair Value.

In addition to the sale, Crockett exercised stock appreciation rights, acquiring 24,545 shares at $38.33 per share and 21,075 shares at $47.51 per share. These transactions were valued at approximately $1.94 million. Following these transactions, Crockett holds 4,573 shares of Carrier Global common stock directly. InvestingPro subscribers can access 12 additional key insights about CARR, including detailed insider trading patterns and comprehensive valuation metrics in the Pro Research Report, available for over 1,400 US stocks.

In other recent news, Carrier Global Corporation reported strong fourth-quarter earnings, with adjusted earnings per share at $0.54, exceeding analyst estimates of $0.49. The company’s revenue reached $5.15 billion, slightly below the consensus of $5.27 billion, but marked a 19% year-over-year increase, including 6% organic growth. Carrier’s HVAC segment experienced an 11% organic growth, while its Refrigeration segment saw a 6% decline, mainly due to reduced sales in North America truck and trailer markets. Looking ahead to 2025, Carrier projects adjusted EPS between $2.95 and $3.05, aligning closely with analyst expectations, and anticipates revenue between $22.5 billion and $23 billion.

In another development, Carrier has made a significant investment in ZutaCore, a company specializing in liquid cooling technology for data centers, to address the growing cooling demands of high-density computing. This partnership aims to provide sustainable cooling solutions for next-generation AI and data processing workloads. Additionally, Mizuho (NYSE:MFG) Securities recently upgraded Carrier’s stock rating from Neutral to Outperform, citing the company’s strong free cash flow and undervaluation compared to its HVAC peers. The analysts at Mizuho maintain a positive outlook for Carrier, noting the company’s transformative actions and anticipated growth in its Data Center business.

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