Avity Investment Management Inc. Buys 96,857 Shares of Carrier Global Corporation $CARR

Key Points

• Avity Investment Management Inc. increased its stake in Carrier Global Corporation by 29.5%, owning 425,672 shares valued at approximately $31 million.
• Analysts have mixed views on Carrier Global, with a consensus rating of "Moderate Buy" and an average price target of $82.12, as some firms adjust their price objectives following earnings reports.
• Carrier Global reported an EPS of $0.92 for the last quarter, surpassing estimates, and set FY 2025 guidance at between $3.000 and $3.100 EPS.

Avity Investment Management Inc. increased its stake in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 29.5% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 425,672 shares of the company's stock after acquiring an additional 96,857 shares during the period. Carrier Global accounts for about 2.3% of Avity Investment Management Inc.'s holdings, making the stock its 22nd largest position. Avity Investment Management Inc.'s holdings in Carrier Global were worth $31,155,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CARR. Park Square Financial Group LLC acquired a new stake in shares of Carrier Global in the fourth quarter valued at about $28,000. Accredited Wealth Management LLC acquired a new stake in shares of Carrier Global in the first quarter worth $28,000. Investment Research & Advisory Group Inc. acquired a new stake in shares of Carrier Global in the first quarter worth $29,000. Mattson Financial Services LLC acquired a new stake in shares of Carrier Global in the fourth quarter worth $31,000. Finally, Mascagni Wealth Management Inc. acquired a new stake in Carrier Global in the 4th quarter worth $35,000. Institutional investors and hedge funds own 91.00% of the company's stock.

Carrier Global Price Performance

Shares of NYSE:CARR traded down $0.48 on Friday, hitting $60.63. The stock had a trading volume of 1,506,515 shares, compared to its average volume of 5,384,084. Carrier Global Corporation has a twelve month low of $54.22 and a twelve month high of $83.32. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.80 and a current ratio of 1.17. The firm's 50 day moving average price is $68.20 and its 200-day moving average price is $67.97. The company has a market capitalization of $51.59 billion, a price-to-earnings ratio of 13.20, a price-to-earnings-growth ratio of 1.84 and a beta of 1.25.

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

Analyst Upgrades and Downgrades

CARR has been the topic of several recent research reports. Morgan Stanley decreased their price objective on Carrier Global from $78.00 to $75.00 and set an "equal weight" rating on the stock in a report on Friday, August 8th. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $79.00 price target on shares of Carrier Global in a research note on Tuesday, July 15th. Citigroup decreased their price target on shares of Carrier Global from $89.00 to $75.00 and set a "buy" rating on the stock in a research note on Friday, September 12th. Mizuho decreased their target price on shares of Carrier Global from $88.00 to $80.00 and set an "outperform" rating on the stock in a research report on Monday. Finally, Wolfe Research decreased their target price on shares of Carrier Global from $91.00 to $77.00 and set an "outperform" rating on the stock in a research report on Friday, September 12th. Eleven research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Carrier Global has an average rating of "Moderate Buy" and an average price target of $80.29.

Carrier Global Company 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.