Avanza Fonder AB Sells 10,209 Shares of Carrier Global Corporation $CARR

Key Points

• Avanza Fonder AB reduced its stake in Carrier Global Corporation by 15.6%, selling 10,209 shares, and now holds 55,180 shares valued at approximately $4 million.
• Carrier Global's quarterly earnings exceeded expectations, with $0.92 earnings per share, outpacing analysts' estimates of $0.90, and reported revenues of $6.11 billion.
• Major institutional investors such as JPMorgan Chase and Brown Advisory have significantly increased their holdings in Carrier Global, reflecting strong interest in the company.

Avanza Fonder AB lowered its stake in Carrier Global Corporation (NYSE:CARR - Free Report) by 15.6% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 55,180 shares of the company's stock after selling 10,209 shares during the period. Avanza Fonder AB's holdings in Carrier Global were worth $4,039,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its holdings in Carrier Global by 30.3% during the 4th quarter. Brighton Jones LLC now owns 7,958 shares of the company's stock worth $543,000 after acquiring an additional 1,850 shares during the period. Vise Technologies Inc. grew its position in Carrier Global by 29.2% in the fourth quarter. Vise Technologies Inc. now owns 15,497 shares of the company's stock worth $1,058,000 after acquiring an additional 3,502 shares in the last quarter. Forum Financial Management LP lifted its holdings in shares of Carrier Global by 14.5% in the 4th quarter. Forum Financial Management LP now owns 7,388 shares of the company's stock worth $504,000 after acquiring an additional 938 shares during the last quarter. Aurdan Capital Management LLC bought a new stake in Carrier Global in the fourth quarter valued at approximately $201,000. Finally, Challenger Wealth Management bought a new stake in shares of Carrier Global in the 4th quarter worth approximately $273,000. 91.00% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CARR. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $79.00 price target on shares of Carrier Global in a report on Tuesday, July 15th. Royal Bank Of Canada dropped their target price on shares of Carrier Global from $87.00 to $75.00 and set an "outperform" rating on the stock in a research note on Friday, September 12th. The Goldman Sachs Group reduced their price target on Carrier Global from $88.00 to $76.00 and set a "buy" rating on the stock in a research report on Friday, September 12th. Citigroup decreased their price objective on Carrier Global from $89.00 to $75.00 and set a "buy" rating for the company in a report on Friday, September 12th. Finally, Barclays cut their price target on shares of Carrier Global from $82.00 to $74.00 and set an "overweight" rating for the company in a report on Thursday, September 11th. Eleven equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $80.29.

Carrier Global Stock Performance

CARR traded down $0.12 during trading on Monday, reaching $60.28. 4,219,928 shares of the company's stock were exchanged, compared to its average volume of 5,959,551. Carrier Global Corporation has a fifty-two week low of $54.22 and a fifty-two week high of $83.32. The company has a market capitalization of $51.30 billion, a P/E ratio of 13.13, a PEG ratio of 1.86 and a beta of 1.25. The company has a quick ratio of 0.80, a current ratio of 1.17 and a debt-to-equity ratio of 0.76. The business has a 50 day moving average price of $67.55 and a 200 day moving average price of $67.95.

Carrier Global (NYSE:CARR - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $0.92 EPS for the quarter, beating 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 business had revenue of $6.11 billion for the quarter, compared to analysts' expectations of $6.08 billion. Carrier Global has set its FY 2025 guidance at 3.000-3.100 EPS. As a group, analysts predict that Carrier Global Corporation will post 2.99 earnings per share for the current fiscal year.

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.