Confluence Investment Management LLC Invests $17.29 Million in 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 purchased a new stake in Carrier Global Corporation (NYSE:CARR - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 236,283 shares of the company's stock, valued at approximately $17,294,000.

A number of other hedge funds and other institutional investors have also modified their holdings of CARR. Brighton Jones LLC increased its holdings in shares of Carrier Global by 30.3% in the fourth 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 in the last quarter. Gotham Asset Management LLC increased its holdings in shares of Carrier Global by 86.6% in the fourth quarter. Gotham Asset Management LLC now owns 8,260 shares of the company's stock valued at $564,000 after purchasing an additional 3,833 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Carrier Global by 4.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 96,127 shares of the company's stock valued at $6,562,000 after purchasing an additional 4,002 shares in the last quarter. Man Group plc increased its holdings in shares of Carrier Global by 298.5% in the fourth quarter. Man Group plc now owns 302,136 shares of the company's stock valued at $20,624,000 after purchasing an additional 226,314 shares in the last quarter. Finally, Pathstone Holdings LLC increased its holdings in shares of Carrier Global by 4.9% in the fourth quarter. Pathstone Holdings LLC now owns 124,055 shares of the company's stock valued at $8,470,000 after purchasing an additional 5,779 shares in the last quarter. Institutional investors and hedge funds own 91.00% of the company's stock.

Wall Street Analyst Weigh In

CARR has been the subject of several recent research reports. Royal Bank Of Canada dropped their target price on shares of Carrier Global from $87.00 to $75.00 and set an "outperform" rating for the company in a research report on Friday. The Goldman Sachs Group dropped their price objective on Carrier Global from $88.00 to $76.00 and set a "buy" rating for the company in a report on Friday. Citigroup reiterated a "buy" rating and issued a $89.00 price objective (up previously from $82.00) on shares of Carrier Global in a report on Monday, July 14th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $79.00 price target on shares of Carrier Global in a research note on Tuesday, July 15th. Finally, Robert W. Baird cut their price target on shares of Carrier Global from $85.00 to $84.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 30th. Ten research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $82.12.

Carrier Global Price Performance

Shares of CARR opened at $61.68 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.80 and a current ratio of 1.17. The stock has a 50 day simple moving average of $69.37 and a 200 day simple moving average of $68.07. Carrier Global Corporation has a 52-week low of $54.22 and a 52-week high of $83.32. The firm has a market capitalization of $52.49 billion, a PE ratio of 13.44, a P/E/G ratio of 1.76 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 earnings per share (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 business 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. Sell-side analysts predict that Carrier Global Corporation will post 2.99 EPS 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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