Parsons Capital Management Inc. RI Sells 20,300 Shares of Carrier Global Corporation $CARR

Key Points

• Parsons Capital Management Inc. RI reduced its stake in Carrier Global Corporation by 22.8%, selling 20,300 shares and leaving them with 68,822 shares valued at approximately $5.04 million.
• Brokerages have mixed ratings on Carrier Global, with Melius Research raising its rating to "hold" and various analysts adjusting price targets downward, now averaging $79.00 with an overall rating of "Moderate Buy."
• The company's stock opened at $59.46 and has a market capitalization of $50.60 billion, with significant performance metrics including a net margin of 18.33% and a return on equity of 17.83%.

Parsons Capital Management Inc. RI reduced its stake in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 22.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 68,822 shares of the company's stock after selling 20,300 shares during the quarter. Parsons Capital Management Inc. RI's holdings in Carrier Global were worth $5,037,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Accredited Wealth Management LLC purchased a new position in Carrier Global during the 1st quarter valued at $28,000. Investment Research & Advisory Group Inc. purchased a new position in Carrier Global during the 1st quarter valued at $29,000. Graybill Wealth Management LTD. purchased a new position in Carrier Global during the 1st quarter valued at $38,000. Cheviot Value Management LLC purchased a new position in Carrier Global during the 1st quarter valued at $38,000. Finally, ORG Partners LLC increased its position in Carrier Global by 192.2% during the 2nd quarter. ORG Partners LLC now owns 754 shares of the company's stock valued at $56,000 after purchasing an additional 496 shares during the period. 91.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CARR. Melius Research raised shares of Carrier Global to a "hold" rating and set a $90.00 price objective on the stock in a research report on Tuesday, July 1st. Wolfe Research decreased their price target on shares of Carrier Global from $91.00 to $77.00 and set an "outperform" rating for the company in a research note on Friday, September 12th. Citigroup decreased their price target on shares of Carrier Global from $89.00 to $75.00 and set a "buy" rating for the company in a research note on Friday, September 12th. Royal Bank Of Canada decreased their price target on shares of Carrier Global from $87.00 to $75.00 and set an "outperform" rating for the company in a research note on Friday, September 12th. Finally, Barclays decreased their price target on shares of Carrier Global from $82.00 to $74.00 and set an "overweight" rating for the company in a research note on Thursday, September 11th. Eleven investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, Carrier Global has an average rating of "Moderate Buy" and an average target price of $79.00.

Carrier Global Stock Performance

Shares of CARR stock opened at $59.46 on Thursday. Carrier Global Corporation has a one year low of $54.22 and a one year high of $83.32. The company's 50-day moving average is $65.11 and its 200 day moving average is $67.60. The company has a market capitalization of $50.60 billion, a price-to-earnings ratio of 12.95, a price-to-earnings-growth ratio of 1.84 and a beta of 1.25. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.80 and a current ratio of 1.17.

Carrier Global (NYSE:CARR - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.90 by $0.02. Carrier Global had a net margin of 18.33% and a return on equity of 17.83%. The company had revenue of $6.11 billion for the quarter, compared to the consensus estimate of $6.08 billion. Carrier Global has set its FY 2025 guidance at 3.000-3.100 EPS. Sell-side analysts expect 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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