USS Investment Management Ltd Cuts Stock Position in Carrier Global Corporation $CARR

Key Points

• USS Investment Management Ltd reduced its stake in Carrier Global Corporation (NYSE:CARR) by 36.8% in the first quarter, now holding 65,378 shares valued at $4.15 million.
• Carrier Global reported a quarterly earnings of $0.92 per share, exceeding analyst expectations, with a revenue of $6.11 billion for the latest quarter.
• The company's quarterly dividend of $0.225 was recently paid, representing a 1.4% yield with a 19.61% payout ratio.

USS Investment Management Ltd trimmed its position in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 36.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 65,378 shares of the company's stock after selling 38,099 shares during the period. USS Investment Management Ltd's holdings in Carrier Global were worth $4,145,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in CARR. Nuveen LLC purchased a new stake in shares of Carrier Global during the first quarter worth approximately $649,512,000. JPMorgan Chase & Co. increased its stake in shares of Carrier Global by 17.6% during the first 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 period. Brown Advisory Inc. increased its stake in shares of Carrier Global by 82.6% during the first 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 period. Alliancebernstein L.P. increased its stake in shares of Carrier Global by 61.9% during the first quarter. Alliancebernstein L.P. now owns 4,318,806 shares of the company's stock worth $273,812,000 after buying an additional 1,651,873 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of Carrier Global by 7,043.4% during the first quarter. GAMMA Investing LLC now owns 1,058,653 shares of the company's stock worth $67,119,000 after buying an additional 1,043,833 shares during the period. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CARR. Barclays lowered their price target on Carrier Global from $82.00 to $74.00 and set an "overweight" rating for the company in a report on Thursday. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $79.00 price target on shares of Carrier Global in a report on Tuesday, July 15th. Citigroup reaffirmed a "buy" rating and issued a $89.00 price target (up from $82.00) on shares of Carrier Global in a report on Monday, July 14th. Melius began coverage on Carrier Global in a report on Tuesday, July 1st. They issued a "hold" rating and a $90.00 price target for the company. Finally, Morgan Stanley lowered their price target on Carrier Global from $78.00 to $75.00 and set an "equal weight" rating for the company in a report on Friday, August 8th. Ten investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $82.12.

Carrier Global Stock Performance

Shares of CARR stock traded down $0.62 during trading hours on Friday, hitting $61.68. The stock had a trading volume of 5,224,873 shares, compared to its average volume of 6,058,735. The firm has a market capitalization of $52.49 billion, a PE ratio of 13.44, a PEG ratio of 1.74 and a beta of 1.25. Carrier Global Corporation has a twelve month low of $54.22 and a twelve month high of $83.32. The stock's 50 day moving average is $69.37 and its 200 day moving average is $68.11. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.17 and a quick ratio of 0.80.

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, beating the consensus estimate of $0.90 by $0.02. The business 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. As a group, research 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.