Carrier Global Corporation $CARR Shares Sold by Empirical Financial Services LLC d.b.a. Empirical Wealth Management

Key Points

• Empirical Financial Services LLC reduced its stake in Carrier Global Corporation by 13.4%, ending with 57,438 shares valued at approximately $4.2 million.
• Analysts have mixed ratings for Carrier Global, with notable updates including a price target cut from $82.00 to $74.00 by Barclays, and a majority rating of "Moderate Buy" with an average target of $79.00.
• Carrier Global reported better-than-expected earnings with an EPS of $0.92, slightly above the consensus estimate, and set a FY 2025 EPS guidance of 3.000-3.100.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management trimmed its holdings in Carrier Global Corporation (NYSE:CARR - Free Report) by 13.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 57,438 shares of the company's stock after selling 8,875 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management's holdings in Carrier Global were worth $4,204,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its stake in Carrier Global by 17.6% in the 1st quarter. JPMorgan Chase & Co. now owns 31,126,869 shares of the company's stock worth $1,973,444,000 after buying an additional 4,668,929 shares during the last quarter. Nuveen LLC acquired a new stake in Carrier Global in the 1st quarter worth about $649,512,000. Brown Advisory Inc. boosted its stake in Carrier Global by 82.6% in the 1st quarter. Brown Advisory Inc. now owns 9,673,979 shares of the company's stock worth $613,330,000 after buying an additional 4,377,402 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Carrier Global by 0.6% in 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 buying an additional 38,233 shares during the last quarter. Finally, PineStone Asset Management Inc. boosted its stake in Carrier Global by 12.8% in the 2nd quarter. PineStone Asset Management Inc. now owns 5,300,483 shares of the company's stock worth $387,942,000 after buying an additional 601,967 shares during the last quarter. 91.00% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CARR. Melius started coverage on Carrier Global in a research note on Tuesday, July 1st. They issued a "hold" rating and a $90.00 price target on the stock. Barclays cut their price objective on Carrier Global from $82.00 to $74.00 and set an "overweight" rating on the stock in a report on Thursday, September 11th. JPMorgan Chase & Co. restated a "neutral" rating and issued a $79.00 price objective on shares of Carrier Global in a report on Tuesday, July 15th. Oppenheimer cut their price objective on Carrier Global from $85.00 to $75.00 and set an "outperform" rating on the stock in a report on Wednesday, September 17th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Carrier Global in a report on Saturday, September 27th. Twelve equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $79.00.

Carrier Global Stock Performance

Shares of NYSE:CARR opened at $59.63 on Friday. The company has a market cap of $50.75 billion, a P/E ratio of 12.99, a PEG ratio of 1.83 and a beta of 1.25. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.80 and a current ratio of 1.17. Carrier Global Corporation has a one year low of $54.22 and a one year high of $83.32. The business's 50-day simple moving average is $64.27 and its 200 day simple moving average is $67.49.

Carrier Global (NYSE:CARR - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.90 by $0.02. The business had revenue of $6.11 billion for 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, sell-side analysts forecast that Carrier Global Corporation will post 2.99 earnings per share for the current fiscal year.

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.

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