Carrier Global Corporation $CARR Shares Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management S.A. reduced its holdings in Carrier Global Corporation by 84.8%, selling 628,186 shares and now owning 112,991 shares, valued at approximately $8.27 million.
• Carrier Global's stock has seen significant analyst activity, with Barclays and Citigroup recently lowering their price targets, bringing average analyst forecasts to around $79.72.
• The company reported earnings of $0.92 per share for the last quarter, exceeding estimates, and has set its FY 2025 guidance at 3.000-3.100 EPS.

Assenagon Asset Management S.A. reduced its holdings in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 84.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 112,991 shares of the company's stock after selling 628,186 shares during the period. Assenagon Asset Management S.A.'s holdings in Carrier Global were worth $8,270,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Brighton Jones LLC raised its position in shares of Carrier Global by 30.3% in the 4th quarter. Brighton Jones LLC now owns 7,958 shares of the company's stock valued at $543,000 after purchasing an additional 1,850 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Carrier Global during the 4th quarter valued at approximately $56,629,000. Park Square Financial Group LLC purchased a new position in shares of Carrier Global in the fourth quarter worth $28,000. Wood Tarver Financial Group LLC acquired a new stake in shares of Carrier Global during the fourth quarter worth $37,000. Finally, Alpha Wealth Funds LLC acquired a new stake in shares of Carrier Global during the fourth quarter worth $341,000. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Carrier Global Stock Down 1.0%

Shares of CARR opened at $59.72 on Wednesday. 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 stock has a fifty day simple moving average of $67.24 and a two-hundred day simple moving average of $67.89. Carrier Global Corporation has a 52-week low of $54.22 and a 52-week high of $83.32. The company has a market capitalization of $50.82 billion, a PE ratio of 13.01, a price-to-earnings-growth ratio of 1.86 and a beta of 1.25.

Carrier Global (NYSE:CARR - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.02. The business had revenue of $6.11 billion during the quarter, compared to analysts' expectations 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. As a group, equities analysts forecast that Carrier Global Corporation will post 2.99 EPS for the current year.

Analysts Set New Price Targets

CARR has been the topic of several research reports. Barclays cut their target price on Carrier Global from $82.00 to $74.00 and set an "overweight" rating on the stock in a research report on Thursday, September 11th. Robert W. Baird reduced their price objective on Carrier Global from $84.00 to $75.00 in a research note on Thursday, September 11th. Melius initiated coverage on Carrier Global in a report on Tuesday, July 1st. They set a "hold" rating and a $90.00 target price for the company. Citigroup cut their price target on shares of Carrier Global from $89.00 to $75.00 and set a "buy" rating on the stock in a report on Friday, September 12th. Finally, The Goldman Sachs Group decreased their price objective on shares of Carrier Global from $88.00 to $76.00 and set a "buy" rating for the company in a research note on Friday, September 12th. Eleven research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $79.72.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.