Ilmarinen Mutual Pension Insurance Co Raises Stake in Carrier Global Corporation $CARR

Key Points

• Ilmarinen Mutual Pension Insurance Co increased its stake in Carrier Global Corporation by 31.5%, owning 188,000 shares worth approximately $11.9 million.
• Carrier Global reported quarterly earnings of $0.92 EPS, beating analysts' expectations, and had a revenue of $6.11 billion during the same period.
• The company declared a quarterly dividend of $0.225 per share, which translates to an annualized dividend yield of 1.4%.

Ilmarinen Mutual Pension Insurance Co raised its position in Carrier Global Corporation (NYSE:CARR - Free Report) by 31.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 188,000 shares of the company's stock after acquiring an additional 45,000 shares during the quarter. Ilmarinen Mutual Pension Insurance Co's holdings in Carrier Global were worth $11,919,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. Park Square Financial Group LLC purchased a new stake in shares of Carrier Global during the 4th quarter worth approximately $28,000. Accredited Wealth Management LLC purchased a new stake in shares of Carrier Global during the 1st quarter worth approximately $28,000. Investment Research & Advisory Group Inc. purchased a new stake in shares of Carrier Global during the 1st quarter worth approximately $29,000. Mattson Financial Services LLC purchased a new stake in shares of Carrier Global during the 4th quarter worth approximately $31,000. Finally, Mascagni Wealth Management Inc. purchased a new stake in shares of Carrier Global during the 4th quarter worth approximately $35,000. Hedge funds and other institutional investors own 91.00% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on CARR shares. Melius started coverage on shares of Carrier Global in a research report on Tuesday, July 1st. They set a "hold" rating and a $90.00 price objective for the company. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $79.00 target price on shares of Carrier Global in a report on Tuesday, July 15th. The Goldman Sachs Group cut their target price on shares of Carrier Global from $88.00 to $76.00 and set a "buy" rating on the stock in a report on Friday. Citigroup reaffirmed a "buy" rating and issued a $89.00 target price (up from $82.00) on shares of Carrier Global in a report on Monday, July 14th. Finally, Robert W. Baird cut their target price on shares of Carrier Global from $85.00 to $84.00 and set an "outperform" rating on the stock in a report on Wednesday, July 30th. Ten investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $82.12.

Carrier Global Stock Performance

CARR traded down $0.71 during trading on Monday, hitting $60.97. The stock had a trading volume of 2,876,237 shares, compared to its average volume of 5,377,574. 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 firm has a market capitalization of $51.88 billion, a P/E ratio of 13.29, a PEG ratio of 1.74 and a beta of 1.25. The company's 50-day moving average price is $69.37 and its 200 day moving average price is $68.11. Carrier Global Corporation has a twelve month low of $54.22 and a twelve month high of $83.32.

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 company had revenue of $6.11 billion for the quarter, compared to analyst estimates of $6.08 billion. Carrier Global had a net margin of 18.33% and a return on equity of 17.83%. Carrier Global has set its FY 2025 guidance at 3.000-3.100 EPS. On average, equities research analysts forecast that Carrier Global Corporation will post 2.99 EPS for the current fiscal year.

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.