Carrier Global Corporation $CARR Shares Bought by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments Co. Ltd. increased its stake in Carrier Global Corporation by 7.8%, owning 103,348 shares valued at approximately $7.56 million as of the latest reporting period.
• Carrier Global reported quarterly earnings of $0.92 per share, exceeding analysts' expectations, with revenues hitting $6.11 billion, also above forecasts.
• Analysts have lowered their price targets for Carrier Global, with current consensus ratings showing a "Moderate Buy" and a price target of $79.00, indicating some concerns about the stock's valuation.

Mirae Asset Global Investments Co. Ltd. lifted its position in Carrier Global Corporation (NYSE:CARR - Free Report) by 7.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 103,348 shares of the company's stock after purchasing an additional 7,509 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Carrier Global were worth $7,564,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CARR. Golden State Wealth Management LLC raised its position in shares of Carrier Global by 51.8% during the 1st quarter. Golden State Wealth Management LLC now owns 1,389 shares of the company's stock valued at $88,000 after buying an additional 474 shares during the period. Bessemer Group Inc. raised its position in Carrier Global by 15.7% in the first quarter. Bessemer Group Inc. now owns 28,768 shares of the company's stock valued at $1,823,000 after purchasing an additional 3,900 shares during the period. Sowell Financial Services LLC acquired a new position in shares of Carrier Global in the 1st quarter valued at $234,000. Ransom Advisory Ltd purchased a new position in shares of Carrier Global during the 1st quarter worth $400,000. Finally, Aberdeen Group plc grew its holdings in shares of Carrier Global by 1.8% during the 1st quarter. Aberdeen Group plc now owns 717,658 shares of the company's stock worth $44,854,000 after purchasing an additional 12,346 shares during the period. 91.00% of the stock is owned by hedge funds and other institutional investors.

Carrier Global Price Performance

Carrier Global stock opened at $59.63 on Monday. The company's 50 day moving average is $64.27 and its two-hundred day moving average is $67.50. The firm has a market cap of $50.75 billion, a PE ratio of 12.99, 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 52-week low of $54.22 and a 52-week high of $83.32.

Carrier Global (NYSE:CARR - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $0.92 earnings per share for the quarter, topping analysts' consensus estimates of $0.90 by $0.02. The business had revenue of $6.11 billion for the quarter, compared to analyst estimates 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, research analysts expect that Carrier Global Corporation will post 2.99 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have commented on CARR. Royal Bank Of Canada decreased 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 report on Friday, September 12th. Barclays decreased their price objective on shares of Carrier Global from $82.00 to $74.00 and set an "overweight" rating on the stock in a report on Thursday, September 11th. Morgan Stanley lowered their price objective on shares of Carrier Global from $78.00 to $75.00 and set an "equal weight" rating for the company in a research report on Friday, August 8th. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $79.00 target price on shares of Carrier Global in a research report on Tuesday, July 15th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Carrier Global from $73.00 to $70.00 and set a "hold" rating on the stock in a research note on Tuesday, September 23rd. Twelve analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $79.00.

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.

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