PineStone Asset Management Inc. Increases Holdings in Carrier Global Corporation $CARR

Key Points

• PineStone Asset Management Inc. has increased its holdings in Carrier Global Corporation by 12.8%, now owning over 5.3 million shares, making it the firm's 14th biggest position.
• Carrier Global reported $0.92 earnings per share for the last quarter, surpassing analysts' expectations, and has set future guidance for FY 2025 earnings at 3.000-3.100 EPS.
• The stock currently has a market cap of approximately $49.93 billion and a consensus rating of "Moderate Buy" among analysts.

PineStone Asset Management Inc. increased its stake in Carrier Global Corporation (NYSE:CARR - Free Report) by 12.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,300,483 shares of the company's stock after acquiring an additional 601,967 shares during the period. Carrier Global makes up approximately 2.5% of PineStone Asset Management Inc.'s investment portfolio, making the stock its 14th biggest position. PineStone Asset Management Inc. owned 0.62% of Carrier Global worth $387,942,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CARR. Fortune Financial Advisors LLC boosted its holdings in shares of Carrier Global by 12.0% in the 2nd quarter. Fortune Financial Advisors LLC now owns 7,566 shares of the company's stock worth $554,000 after purchasing an additional 809 shares during the period. Dakota Wealth Management boosted its stake in Carrier Global by 4.9% during the second quarter. Dakota Wealth Management now owns 28,082 shares of the company's stock worth $2,055,000 after buying an additional 1,312 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new position in Carrier Global during the second quarter worth $2,520,000. Perigon Wealth Management LLC increased its position in Carrier Global by 1.5% during the second quarter. Perigon Wealth Management LLC now owns 30,809 shares of the company's stock valued at $2,255,000 after acquiring an additional 445 shares during the last quarter. Finally, North Star Investment Management Corp. raised its stake in shares of Carrier Global by 1.5% in the second quarter. North Star Investment Management Corp. now owns 35,823 shares of the company's stock valued at $2,622,000 after acquiring an additional 523 shares during the period. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Carrier Global Stock Down 0.6%

Shares of NYSE:CARR opened at $58.67 on Friday. The business's 50 day moving average is $66.54 and its 200 day moving average is $67.77. The stock has a market cap of $49.93 billion, a P/E ratio of 12.78, a price-to-earnings-growth ratio of 1.82 and a beta of 1.25. Carrier Global Corporation has a 52-week low of $54.22 and a 52-week high of $83.32. 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, beating analysts' consensus estimates 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 analyst estimates of $6.08 billion. Carrier Global has set its FY 2025 guidance at 3.000-3.100 EPS. Sell-side analysts predict that Carrier Global Corporation will post 2.99 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on CARR shares. Jefferies Financial Group reaffirmed a "buy" rating on shares of Carrier Global in a research note on Thursday, September 11th. Oppenheimer dropped their target price on Carrier Global from $85.00 to $75.00 and set an "outperform" rating for the company in a research report on Wednesday, September 17th. The Goldman Sachs Group reduced their price target on Carrier Global from $88.00 to $76.00 and set a "buy" rating on the stock in a report on Friday, September 12th. Wolfe Research decreased their price target on Carrier Global from $91.00 to $77.00 and set an "outperform" rating for the company in a research note on Friday, September 12th. Finally, Melius Research raised Carrier Global to a "hold" rating and set a $90.00 price objective on the stock in a research report on Tuesday, July 1st. Eleven research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $79.72.

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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