Park Avenue Securities LLC Buys 14,710 Shares of Carrier Global Corporation $CARR

Key Points

• Park Avenue Securities LLC increased its stake in Carrier Global Corporation by 35.7%, acquiring an additional 14,710 shares, bringing their total holdings to 55,880 shares valued at $4,090,000.
• Carrier Global reported $0.92 earnings per share for the last quarter, exceeding estimates of $0.90, with revenues reaching $6.11 billion.
• Institutional investors own 91% of Carrier Global's stock, indicating strong institutional confidence in the company.

Park Avenue Securities LLC lifted its stake in Carrier Global Corporation (NYSE:CARR - Free Report) by 35.7% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 55,880 shares of the company's stock after acquiring an additional 14,710 shares during the period. Park Avenue Securities LLC's holdings in Carrier Global were worth $4,090,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Park Square Financial Group LLC bought a new position in Carrier Global in the 4th quarter worth approximately $28,000. Accredited Wealth Management LLC bought a new position in Carrier Global in the 1st quarter worth approximately $28,000. Investment Research & Advisory Group Inc. bought a new position in Carrier Global in the 1st quarter worth approximately $29,000. Mattson Financial Services LLC bought a new position in Carrier Global in the 4th quarter worth approximately $31,000. Finally, Mascagni Wealth Management Inc. bought a new position in Carrier Global in the 4th quarter worth approximately $35,000. 91.00% of the stock is owned by institutional investors.

Carrier Global Stock Down 0.2%

Shares of Carrier Global stock opened at $60.28 on Tuesday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.17 and a quick ratio of 0.80. The company has a market capitalization of $51.30 billion, a P/E ratio of 13.13, a price-to-earnings-growth ratio of 1.86 and a beta of 1.25. The business has a 50-day moving average of $67.55 and a two-hundred day moving average of $67.95. 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 posted its quarterly earnings data 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. 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, equities analysts predict that Carrier Global Corporation will post 2.99 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Melius assumed coverage on Carrier Global in a research report on Tuesday, July 1st. They issued a "hold" rating and a $90.00 price target on the stock. Oppenheimer decreased their price objective on Carrier Global from $85.00 to $75.00 and set an "outperform" rating on the stock in a report on Wednesday, September 17th. Jefferies Financial Group reissued a "buy" rating on shares of Carrier Global in a report on Thursday, September 11th. Melius Research raised Carrier Global to a "hold" rating and set a $90.00 price objective on the stock in a report on Tuesday, July 1st. Finally, Robert W. Baird decreased their price objective on Carrier Global from $84.00 to $75.00 in a report on Thursday, September 11th. Eleven equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, Carrier Global presently has an average rating of "Moderate Buy" and a consensus target price of $80.29.

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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