Carrier Global Corporation $CARR Shares Sold by NorthCrest Asset Manangement LLC

Key Points

• NorthCrest Asset Management LLC reduced its holdings in Carrier Global Corporation by 3.9%, owning 109,220 shares valued at approximately $8.26 million after selling 4,422 shares in Q2.
• Several institutional investors, including Wealth Enhancement Advisory Services LLC and Swedbank AB, increased their positions in Carrier Global during the same period, indicating ongoing interest in the company.
• Carrier Global's stock has a market capitalization of $51.66 billion with recent earnings of $0.92 EPS, surpassing analysts' expectations, and a consensus rating of "Moderate Buy" among analysts.

NorthCrest Asset Manangement LLC lessened its holdings in Carrier Global Corporation (NYSE:CARR - Free Report) by 3.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 109,220 shares of the company's stock after selling 4,422 shares during the quarter. NorthCrest Asset Manangement LLC's holdings in Carrier Global were worth $8,263,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in CARR. Golden State Wealth Management LLC lifted its position in Carrier Global by 51.8% during the 1st quarter. Golden State Wealth Management LLC now owns 1,389 shares of the company's stock worth $88,000 after buying an additional 474 shares in the last quarter. Bessemer Group Inc. grew its stake in shares of 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 buying an additional 3,900 shares in the last quarter. Sowell Financial Services LLC bought a new position in shares of Carrier Global in the first quarter valued at $234,000. Ransom Advisory Ltd acquired a new stake in Carrier Global during the 1st quarter valued at $400,000. Finally, Aberdeen Group plc lifted its holdings in shares of Carrier Global by 1.8% during the first quarter. Aberdeen Group plc now owns 717,658 shares of the company's stock worth $44,854,000 after buying an additional 12,346 shares in the last quarter. Institutional investors own 91.00% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on CARR. Citigroup lowered their target price on Carrier Global from $89.00 to $75.00 and set a "buy" rating for the company in a research note on Friday, September 12th. Wolfe Research lowered their target price on Carrier Global from $91.00 to $77.00 and set an "outperform" rating on the stock in a research report on Friday, September 12th. Mizuho cut their price target on Carrier Global from $88.00 to $80.00 and set an "outperform" rating for the company in a research note on Monday, September 15th. Jefferies Financial Group restated a "buy" rating on shares of Carrier Global in a research note on Thursday, September 11th. Finally, Royal Bank Of Canada lowered their price target on Carrier Global from $87.00 to $75.00 and set an "outperform" rating on the stock in a report on Friday, September 12th. Eleven investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat.com, Carrier Global presently has a consensus rating of "Moderate Buy" and a consensus target price of $80.29.

Carrier Global Stock Up 0.1%

NYSE CARR traded up $0.03 during midday trading on Monday, hitting $60.42. 1,937,746 shares of the company traded hands, compared to its average volume of 5,388,250. Carrier Global Corporation has a 52 week low of $54.22 and a 52 week high of $83.32. The company's 50-day simple moving average is $67.88 and its 200-day simple moving average is $68.00. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.17 and a quick ratio of 0.80. The company has a market cap of $51.42 billion, a PE ratio of 13.15, a price-to-earnings-growth ratio of 1.86 and a beta of 1.25.

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