Ameritas Advisory Services LLC Invests $1.63 Million in Carrier Global Corporation $CARR

Key Points

• Ameritas Advisory Services initiated a $1.63 million position in Carrier Global by purchasing 22,256 shares during the second quarter. Institutional investors collectively own approximately 91% of CARR’s outstanding stock.
• Carrier reported quarterly EPS of $0.86, exceeding estimates of $0.82, while revenue reached $6.35 billion and increased 3.9% year over year.
• CARR shares opened at $57.98, down 1.9%, while analysts maintained a “Moderate Buy” consensus rating with an average price target of $73.67.

Ameritas Advisory Services LLC bought a new stake in Carrier Global Corporation (NYSE:CARR - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 22,256 shares of the company's stock, valued at approximately $1,632,000.

A number of other institutional investors have also recently added to or reduced their stakes in CARR. Van Hulzen Asset Management LLC acquired a new position in shares of Carrier Global in the 2nd quarter worth approximately $1,992,000. Cardinal Capital Management Inc. raised its position in shares of Carrier Global by 7.1% during the 2nd quarter. Cardinal Capital Management Inc. now owns 575,335 shares of the company's stock valued at $42,201,000 after acquiring an additional 37,934 shares in the last quarter. California Public Employees Retirement System lifted its stake in Carrier Global by 1.5% during the first quarter. California Public Employees Retirement System now owns 1,430,425 shares of the company's stock worth $80,547,000 after purchasing an additional 21,367 shares during the last quarter. Avity Investment Management Inc. lifted its stake in Carrier Global by 33.9% during the second quarter. Avity Investment Management Inc. now owns 194,484 shares of the company's stock worth $14,265,000 after purchasing an additional 49,260 shares during the last quarter. Finally, Mandatum Life Insurance Co Ltd lifted its stake in Carrier Global by 36.1% during the first quarter. Mandatum Life Insurance Co Ltd now owns 111,157 shares of the company's stock worth $6,259,000 after purchasing an additional 29,495 shares during the last quarter. 91.00% of the stock is owned by hedge funds and other institutional investors.

Carrier Global Stock Down 1.9%

CARR stock opened at $57.98 on Thursday. The firm's 50-day moving average is $63.82 and its two-hundred day moving average is $63.59. The company has a market capitalization of $47.79 billion, a price-to-earnings ratio of 40.26, a price-to-earnings-growth ratio of 2.28 and a beta of 1.30. Carrier Global Corporation has a 52 week low of $50.24 and a 52 week high of $76.76. The company has a current ratio of 1.02, a quick ratio of 0.72 and a debt-to-equity ratio of 0.77.

Carrier Global (NYSE:CARR - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.82 by $0.04. The firm had revenue of $6.35 billion for the quarter, compared to analysts' expectations of $6.02 billion. Carrier Global had a net margin of 5.52% and a return on equity of 14.68%. Carrier Global's revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.92 earnings per share. Carrier Global has set its FY 2026 guidance at 2.900-2.900 EPS. On average, analysts forecast that Carrier Global Corporation will post 2.87 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have weighed in on CARR shares. Zacks Research raised shares of Carrier Global from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 30th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Carrier Global in a report on Monday, July 20th. JPMorgan Chase & Co. boosted their price objective on shares of Carrier Global from $63.00 to $67.00 and gave the company a "neutral" rating in a research report on Thursday, May 14th. Citigroup increased their price objective on shares of Carrier Global from $79.00 to $80.00 and gave the stock a "buy" rating in a research note on Monday, July 13th. Finally, Wolfe Research reissued an "outperform" rating and issued a $80.00 target price on shares of Carrier Global in a report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $73.67.

About Carrier Global

Carrier Global Corporation NYSE: CARR is a global provider of intelligent climate and energy solutions. The company develops and manufactures heating, ventilation and air conditioning (HVAC) systems and related controls, building automation technologies, and services designed to improve indoor comfort, energy efficiency and building performance.

Carrier also provides refrigeration equipment and systems for commercial, industrial and transportation applications, supporting food preservation and cold-chain operations.

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