KG&L Capital Management LLC Raises Position in Carrier Global Corporation $CARR

Key Points

• KG&L Capital Management LLC increased its holdings in Carrier Global Corporation by 129.9% during the second quarter, amounting to a total of 8,820 shares valued at $595,000.
• Several institutional investors, including JPMorgan Chase & Co. and Brown Advisory Inc., have also boosted their stakes in Carrier Global, indicating strong institutional interest with 91% of the stock owned by hedge funds and institutions.
• Wall Street analysts have lowered their price targets for Carrier Global, with the consensus price target currently at $79.72, and the stock holding a "Moderate Buy" rating among analysts.

KG&L Capital Management LLC increased its position in Carrier Global Corporation (NYSE:CARR - Free Report) by 129.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,820 shares of the company's stock after purchasing an additional 4,984 shares during the quarter. KG&L Capital Management LLC's holdings in Carrier Global were worth $595,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. boosted its holdings in Carrier Global by 17.6% in the first quarter. JPMorgan Chase & Co. now owns 31,126,869 shares of the company's stock valued at $1,973,444,000 after purchasing an additional 4,668,929 shares during the last quarter. Nuveen LLC purchased a new position in Carrier Global in the first quarter valued at about $649,512,000. Brown Advisory Inc. boosted its holdings in Carrier Global by 82.6% in the first 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 during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Carrier Global by 0.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 6,968,294 shares of the company's stock valued at $441,790,000 after purchasing an additional 38,233 shares during the last quarter. Finally, PineStone Asset Management Inc. boosted its holdings in Carrier Global by 12.8% in the second quarter. PineStone Asset Management Inc. now owns 5,300,483 shares of the company's stock valued at $387,942,000 after purchasing an additional 601,967 shares during the last quarter. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on CARR shares. The Goldman Sachs Group reduced their price target on Carrier Global from $88.00 to $76.00 and set a "buy" rating for the company in a report on Friday, September 12th. Mizuho cut their price objective on Carrier Global from $88.00 to $80.00 and set an "outperform" rating on the stock in a research note on Monday, September 15th. Citigroup cut their price objective on Carrier Global from $89.00 to $75.00 and set a "buy" rating on the stock in a research note on Friday, September 12th. JPMorgan Chase & Co. restated a "neutral" rating and set a $79.00 price objective on shares of Carrier Global in a research note on Tuesday, July 15th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Carrier Global from $73.00 to $70.00 and set a "hold" rating on the stock in a research note on Tuesday, September 23rd. Eleven investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $79.72.

Carrier Global Stock Performance

Shares of NYSE CARR opened at $58.82 on Friday. The stock has a fifty day moving average price of $66.18 and a two-hundred day moving average price of $67.74. 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 cap of $50.06 billion, a P/E ratio of 12.81, a PEG ratio of 1.82 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.

Carrier Global (NYSE:CARR - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.90 by $0.02. The firm had revenue of $6.11 billion during the quarter, compared to analyst estimates 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. Research analysts forecast that Carrier Global Corporation will post 2.99 EPS for the current fiscal 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.

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