Confluence Investment Management LLC Buys Shares of 236,283 Carrier Global Corporation $CARR

Key Points

• Confluence Investment Management LLC invested $17.29 million in Carrier Global Corporation by purchasing 236,283 shares in the second quarter, according to their Form 13F filing.
• A majority of shares in Carrier Global are held by institutional investors, with 91% ownership among these entities.
• Carrier Global has received mixed analyst ratings, with ten analysts rating it a "Buy" and a target price averaging around $82.12 per share.

Confluence Investment Management LLC acquired a new stake in Carrier Global Corporation (NYSE:CARR - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 236,283 shares of the company's stock, valued at approximately $17,294,000.

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

Analyst Ratings Changes

A number of brokerages have recently commented on CARR. Morgan Stanley lowered their price target on shares of Carrier Global from $78.00 to $75.00 and set an "equal weight" rating for the company in a report on Friday, August 8th. Melius Research upgraded shares of Carrier Global to a "hold" rating and set a $90.00 price target for the company in a report on Tuesday, July 1st. Oppenheimer lowered their target price on shares of Carrier Global from $85.00 to $75.00 and set an "outperform" rating for the company in a report on Wednesday. Wolfe Research lowered their target price on shares of Carrier Global from $91.00 to $77.00 and set an "outperform" rating for the company in a report on Friday, September 12th. Finally, Citigroup lowered their target price on shares of Carrier Global from $89.00 to $75.00 and set a "buy" rating for the company in a report on Friday, September 12th. Eleven equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, Carrier Global presently has an average rating of "Moderate Buy" and a consensus price target of $80.29.

Carrier Global Price Performance

CARR traded up $0.62 on Thursday, reaching $61.34. The company had a trading volume of 2,471,099 shares, compared to its average volume of 5,393,042. The company has a market capitalization of $52.20 billion, a P/E ratio of 13.36, a PEG ratio of 1.84 and a beta of 1.25. Carrier Global Corporation has a one year low of $54.22 and a one year high of $83.32. The company has a fifty day moving average of $68.52 and a 200-day moving average of $67.98. The company has a current ratio of 1.17, a quick ratio of 0.80 and a debt-to-equity ratio of 0.76.

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

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.