Merit Financial Group LLC Raises Stock Holdings in Carrier Global Corporation $CARR

Merit Financial Group LLC increased its stake in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 21.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,113 shares of the company's stock after purchasing an additional 8,103 shares during the quarter. Merit Financial Group LLC's holdings in Carrier Global were worth $3,375,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in CARR. Brighton Jones LLC raised its stake in 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 buying an additional 1,850 shares during the last quarter. NBC Securities Inc. raised its stake in Carrier Global by 166,400.0% in the first quarter. NBC Securities Inc. now owns 1,665 shares of the company's stock valued at $105,000 after buying an additional 1,664 shares during the last quarter. Patriot Financial Group Insurance Agency LLC raised its stake in Carrier Global by 4.1% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 6,898 shares of the company's stock valued at $437,000 after buying an additional 273 shares during the last quarter. OLD National Bancorp IN raised its stake in Carrier Global by 3.4% in the first quarter. OLD National Bancorp IN now owns 8,204 shares of the company's stock valued at $520,000 after buying an additional 272 shares during the last quarter. Finally, Park Avenue Securities LLC raised its stake in Carrier Global by 35.3% in the first quarter. Park Avenue Securities LLC now owns 41,170 shares of the company's stock valued at $2,610,000 after buying an additional 10,750 shares during the last quarter. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Carrier Global Stock Down 1.2%

Shares of CARR stock opened at $59.11 on Wednesday. The stock has a 50 day moving average of $63.61 and a 200 day moving average of $67.39. The company has a current ratio of 1.17, a quick ratio of 0.80 and a debt-to-equity ratio of 0.76. The stock has a market cap of $50.30 billion, a P/E ratio of 12.88, a P/E/G ratio of 1.86 and a beta of 1.25. 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 announced its quarterly earnings results on Tuesday, July 29th. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.02. The company had revenue of $6.11 billion during the quarter, compared to analysts' expectations 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. As a group, sell-side analysts expect that Carrier Global Corporation will post 2.99 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have commented on CARR. Mizuho decreased their price target on Carrier Global from $88.00 to $80.00 and set an "outperform" rating for the company in a research note on Monday, September 15th. Weiss Ratings restated a "buy (b-)" rating on shares of Carrier Global in a research note on Saturday, September 27th. Melius initiated coverage on Carrier Global in a research note on Tuesday, July 1st. They issued a "hold" rating and a $90.00 price objective for the company. JPMorgan Chase & Co. restated a "neutral" rating and issued a $79.00 price objective on shares of Carrier Global in a research note on Tuesday, July 15th. Finally, Citigroup reduced their price objective on Carrier Global from $89.00 to $75.00 and set a "buy" rating for the company in a research note on Friday, September 12th. Twelve investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $78.47.

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.

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