CTC Alternative Strategies Ltd. Buys Shares of 5,000 Carrier Global Corporation $CARR

Key Points

• CTC Alternative Strategies Ltd. acquired a new stake in Carrier Global Corporation, purchasing 5,000 shares valued at approximately $317,000 in the first quarter.
• Carrier Global's recent earnings report showed an EPS of $0.92, exceeding consensus estimates, along with a net margin of 18.33% and revenue of $6.11 billion.
• The company announced a quarterly dividend of $0.225 per share, translating to a 1.4% dividend yield with a payout ratio of 19.61%.

CTC Alternative Strategies Ltd. bought a new position in Carrier Global Corporation (NYSE:CARR - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 5,000 shares of the company's stock, valued at approximately $317,000.

Several other large investors have also made changes to their positions in the company. JPMorgan Chase & Co. raised its position in shares of 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 period. Nuveen LLC purchased a new position in shares of Carrier Global in the 1st quarter worth $649,512,000. Brown Advisory Inc. increased its holdings in Carrier Global by 82.6% in the 1st quarter. Brown Advisory Inc. now owns 9,673,979 shares of the company's stock valued at $613,330,000 after purchasing an additional 4,377,402 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Carrier Global by 15.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,930,061 shares of the company's stock valued at $473,046,000 after purchasing an additional 936,892 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in Carrier Global by 2.1% in the 1st quarter. Invesco Ltd. now owns 5,165,203 shares of the company's stock valued at $327,474,000 after purchasing an additional 108,055 shares in the last quarter. 91.00% of the stock is owned by hedge funds and other institutional investors.

Carrier Global Stock Down 1.0%

NYSE:CARR traded down $0.62 during mid-day trading on Friday, reaching $61.68. The stock had a trading volume of 5,224,873 shares, compared to its average volume of 5,945,904. The company has a market capitalization of $52.49 billion, a price-to-earnings ratio of 13.44, a price-to-earnings-growth ratio of 1.76 and a beta of 1.25. Carrier Global Corporation has a 1-year low of $54.22 and a 1-year high of $83.32. The stock's 50 day simple moving average is $69.37 and its two-hundred day simple moving average is $68.08. 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 results on Tuesday, July 29th. The company reported $0.92 EPS for the quarter, topping analysts' consensus estimates 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. Equities analysts anticipate that Carrier Global Corporation will post 2.99 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CARR. Royal Bank Of Canada lowered their price target on Carrier Global from $87.00 to $75.00 and set an "outperform" rating for the company in a report on Friday. Robert W. Baird dropped their target price on Carrier Global from $85.00 to $84.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 30th. The Goldman Sachs Group dropped their target price on Carrier Global from $88.00 to $76.00 and set a "buy" rating on the stock in a research report on Friday. Melius Research raised Carrier Global to a "hold" rating and set a $90.00 target price on the stock in a research report on Tuesday, July 1st. Finally, JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $79.00 target price on shares of Carrier Global in a research report on Tuesday, July 15th. Ten analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, Carrier Global currently has a consensus rating of "Moderate Buy" and a consensus target price of $82.12.

About Carrier Global

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.