Meitav Investment House Ltd. Sells 200,700 Shares of Carrier Global Corporation $CARR

Key Points

• Meitav Investment House Ltd. has reduced its stake in Carrier Global Corporation by 49.7%, selling 200,700 shares, leaving it with approximately 203,140 shares valued at $14.87 million as of its latest SEC filing.
• Several analysts have lowered their price targets for Carrier Global, with Goldman Sachs reducing its target from $88.00 to $76.00, while Citigroup and Royal Bank Of Canada also revised their targets to $75.00.
• Carrier Global's stock has shown modest growth of 0.2%, with a current trading price around $59.77 and a market capitalization of $50.87 billion, alongside a consensus rating of "Moderate Buy" among analysts.

Meitav Investment House Ltd. cut its position in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 49.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 203,140 shares of the company's stock after selling 200,700 shares during the period. Meitav Investment House Ltd.'s holdings in Carrier Global were worth $14,868,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CARR. Accredited Wealth Management LLC bought a new position in Carrier Global during the first quarter valued at approximately $28,000. Investment Research & Advisory Group Inc. purchased a new stake in Carrier Global during the first quarter valued at approximately $29,000. Graybill Wealth Management LTD. purchased a new stake in Carrier Global during the first quarter valued at approximately $38,000. Cheviot Value Management LLC purchased a new stake in Carrier Global during the first quarter valued at approximately $38,000. Finally, Rossby Financial LCC purchased a new stake in Carrier Global during the first quarter valued at approximately $51,000. 91.00% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CARR shares. The Goldman Sachs Group decreased their price objective on Carrier Global from $88.00 to $76.00 and set a "buy" rating on the stock in a research report on Friday, September 12th. Citigroup decreased their price objective on Carrier Global from $89.00 to $75.00 and set a "buy" rating on the stock in a research report on Friday, September 12th. Royal Bank Of Canada decreased their price objective on Carrier Global from $87.00 to $75.00 and set an "outperform" rating on the stock in a research report on Friday, September 12th. Rothschild & Co Redburn decreased their price objective on Carrier Global from $76.00 to $66.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 1st. Finally, JPMorgan Chase & Co. restated a "neutral" rating and set a $79.00 price objective on shares of Carrier Global in a research report on Tuesday, July 15th. Twelve analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $78.47.

Carrier Global Stock Up 0.2%

NYSE CARR opened at $59.77 on Tuesday. 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 $50.87 billion, a price-to-earnings ratio of 13.02, a PEG ratio of 1.86 and a beta of 1.25. The company has a fifty day moving average of $63.86 and a two-hundred day moving average of $67.45. The company has a quick ratio of 0.80, a current ratio of 1.17 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 earnings per share for the quarter, topping 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 analysts' expectations of $6.08 billion. Carrier Global has set its FY 2025 guidance at 3.000-3.100 EPS. On average, analysts predict 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.

Want to see what other hedge funds are holding CARR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Carrier Global Corporation (NYSE:CARR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.