Ascent Group LLC Invests $736,000 in Carrier Global Corporation $CARR

Key Points

• Ascent Group LLC invested approximately $736,000 in Carrier Global Corporation, acquiring 11,615 shares during the 1st quarter.
• Carrier Global's latest quarterly earnings showed an EPS of $0.92, surpassing estimates, with revenue of $6.11 billion for the period.
• Wall Street analysts maintain a "Moderate Buy" rating on Carrier Global, with an average target price of $84.47 amidst varying ratings from different firms.

Ascent Group LLC purchased a new position in Carrier Global Corporation (NYSE:CARR - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 11,615 shares of the company's stock, valued at approximately $736,000.

Several other institutional investors have also bought and sold shares of CARR. Park Square Financial Group LLC purchased a new position in shares of Carrier Global in the fourth quarter worth about $28,000. Accredited Wealth Management LLC purchased a new stake in shares of Carrier Global in the first quarter worth $28,000. Investment Research & Advisory Group Inc. purchased a new stake in shares of Carrier Global in the first quarter worth $29,000. Mattson Financial Services LLC bought a new stake in Carrier Global during the fourth quarter valued at $31,000. Finally, Mascagni Wealth Management Inc. purchased a new position in Carrier Global during the fourth quarter worth about $35,000. Hedge funds and other institutional investors own 91.00% of the company's stock.

Carrier Global Trading Down 1.0%

CARR stock traded down $0.62 during midday trading on Friday, hitting $61.68. The company had a trading volume of 5,224,873 shares, compared to its average volume of 5,945,904. The stock has a market cap of $52.49 billion, a price-to-earnings ratio of 13.44, a PEG ratio of 1.76 and a beta of 1.25. Carrier Global Corporation has a 52 week low of $54.22 and a 52 week high of $83.32. The company has a current ratio of 1.17, a quick ratio of 0.80 and a debt-to-equity ratio of 0.76. The stock's 50 day moving average price is $69.37 and its 200 day moving average price is $68.07.

Carrier Global (NYSE:CARR - Get Free Report) last issued its earnings results on Tuesday, July 29th. The company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.90 by $0.02. Carrier Global had a net margin of 18.33% and a return on equity of 17.83%. The company had revenue of $6.11 billion for the quarter, compared to the consensus estimate of $6.08 billion. Carrier Global has set its FY 2025 guidance at 3.000-3.100 EPS. As a group, equities research analysts expect that Carrier Global Corporation will post 2.99 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Melius Research raised shares of Carrier Global to a "hold" rating and set a $90.00 price target for the company in a research note on Tuesday, July 1st. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $79.00 target price on shares of Carrier Global in a research report on Tuesday, July 15th. Robert W. Baird lowered their price target on Carrier Global from $85.00 to $84.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 30th. Citigroup reaffirmed a "buy" rating and set a $89.00 price target (up previously from $82.00) on shares of Carrier Global in a research note on Monday, July 14th. Finally, Morgan Stanley cut their price objective on Carrier Global from $78.00 to $75.00 and set an "equal weight" rating for the company in a report on Friday, August 8th. Ten research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, Carrier Global presently has a consensus rating of "Moderate Buy" and an average target price of $82.12.

About Carrier Global

Carrier Global Corporation provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies in the United States, Europe, the Asia Pacific, and internationally. It operates through three segments: HVAC, Refrigeration, and Fire & Security.