Sumitomo Mitsui DS Asset Management Company Ltd Acquires 5,593 Shares of Carrier Global Corporation $CARR

Key Points

• Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Carrier Global Corporation by 6.0% in Q2, holding 98,085 shares valued at approximately $7.18 million.
• JPMorgan Chase & Co. as well as other institutional investors have significantly boosted their holdings in Carrier Global, with institutional ownership now at 91.00%.
• Wall Street analysts have lowered their price targets for Carrier Global, with an average price target of $80.29 and a consensus rating of "Moderate Buy."

Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Carrier Global Corporation (NYSE:CARR - Free Report) by 6.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 98,085 shares of the company's stock after acquiring an additional 5,593 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Carrier Global were worth $7,179,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of CARR. JPMorgan Chase & Co. increased its stake in Carrier Global by 17.6% during the 1st quarter. JPMorgan Chase & Co. now owns 31,126,869 shares of the company's stock worth $1,973,444,000 after purchasing an additional 4,668,929 shares in the last quarter. Nuveen LLC bought a new stake in Carrier Global during the 1st quarter worth approximately $649,512,000. Brown Advisory Inc. increased its stake in Carrier Global by 82.6% during the 1st quarter. Brown Advisory Inc. now owns 9,673,979 shares of the company's stock worth $613,330,000 after purchasing an additional 4,377,402 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Carrier Global by 0.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 6,968,294 shares of the company's stock worth $441,790,000 after purchasing an additional 38,233 shares in the last quarter. Finally, Invesco Ltd. increased its stake in Carrier Global by 2.1% during the 1st quarter. Invesco Ltd. now owns 5,165,203 shares of the company's stock worth $327,474,000 after purchasing an additional 108,055 shares in the last quarter. 91.00% of the stock is owned by institutional investors.

Carrier Global Stock Down 0.1%

Shares of NYSE CARR traded down $0.06 during trading hours on Monday, hitting $60.33. The company had a trading volume of 2,527,811 shares, compared to its average volume of 5,391,266. The stock has a market capitalization of $51.34 billion, a P/E ratio of 13.13, a price-to-earnings-growth 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. Carrier Global Corporation has a 1-year low of $54.22 and a 1-year high of $83.32. The firm's 50 day moving average is $67.88 and its 200-day moving average is $68.00.

Carrier Global (NYSE:CARR - Get Free Report) last released 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. The company had revenue of $6.11 billion during the quarter, compared to the consensus estimate of $6.08 billion. Carrier Global had a return on equity of 17.83% and a net margin of 18.33%. Carrier Global has set its FY 2025 guidance at 3.000-3.100 EPS. On average, analysts expect that Carrier Global Corporation will post 2.99 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Royal Bank Of Canada lowered their target price on Carrier Global from $87.00 to $75.00 and set an "outperform" rating for the company in a research note on Friday, September 12th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $79.00 price target on shares of Carrier Global in a research report on Tuesday, July 15th. Mizuho reduced their price target on Carrier Global from $88.00 to $80.00 and set an "outperform" rating for the company in a research report on Monday, September 15th. Melius started coverage on Carrier Global in a research report on Tuesday, July 1st. They set a "hold" rating and a $90.00 price target for the company. Finally, Citigroup reduced their price target on Carrier Global from $89.00 to $75.00 and set a "buy" rating for the company in a research report on Friday, September 12th. Eleven analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, Carrier Global currently has an average rating of "Moderate Buy" and a consensus target price of $80.29.

Carrier Global Profile

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.