Professional Advisory Services Inc. Sells 36,008 Shares of Carrier Global Corporation $CARR

Key Points

• Professional Advisory Services Inc. decreased its stake in Carrier Global Corporation by 11.2%, selling 36,008 shares, and now holds 284,265 shares, representing 2.8% of its investment portfolio.
• Carrier Global's stock has seen recent analyst activity, with Melius Research and Jefferies assigning a "hold" and "buy" rating respectively, while the consensus rating is classified as a "Moderate Buy" with a price target of $80.29.
• As of the latest earnings report, Carrier Global achieved an EPS of $0.92, slightly above analysts' expectations, and set its FY 2025 guidance between 3.000-3.100 EPS.

Professional Advisory Services Inc. trimmed its position in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 11.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 284,265 shares of the company's stock after selling 36,008 shares during the period. Carrier Global comprises 2.8% of Professional Advisory Services Inc.'s portfolio, making the stock its 16th largest position. Professional Advisory Services Inc.'s holdings in Carrier Global were worth $20,805,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Park Square Financial Group LLC purchased a new position in shares of Carrier Global during the fourth quarter valued at about $28,000. Accredited Wealth Management LLC purchased a new stake in Carrier Global in the first quarter worth about $28,000. Investment Research & Advisory Group Inc. bought a new position in shares of Carrier Global in the first quarter worth approximately $29,000. Mattson Financial Services LLC bought a new position in shares of Carrier Global in the fourth quarter worth approximately $31,000. Finally, Mascagni Wealth Management Inc. bought a new position in shares of Carrier Global in the fourth quarter worth approximately $35,000. 91.00% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CARR. Mizuho dropped their target price on shares of Carrier Global from $88.00 to $80.00 and set an "outperform" rating on the stock in a research note on Monday, September 15th. Barclays dropped their target price on shares of Carrier Global from $82.00 to $74.00 and set an "overweight" rating on the stock in a research note on Thursday, September 11th. Jefferies Financial Group reiterated a "buy" rating on shares of Carrier Global in a research note on Thursday, September 11th. Melius Research upgraded 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. Finally, Wolfe Research lowered their price objective on shares of Carrier Global from $91.00 to $77.00 and set an "outperform" rating on the stock in a research report on Friday, September 12th. Eleven equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, Carrier Global presently has a consensus rating of "Moderate Buy" and a consensus price target of $79.72.

Carrier Global Price Performance

Shares of NYSE:CARR traded down $0.79 on Tuesday, reaching $59.52. The company's stock had a trading volume of 2,851,803 shares, compared to its average volume of 5,386,821. Carrier Global Corporation has a 52-week low of $54.22 and a 52-week high of $83.32. The company has a market cap of $50.65 billion, a P/E ratio of 12.95, a PEG ratio of 1.86 and a beta of 1.25. The company has a 50-day simple moving average of $67.55 and a 200 day simple moving average of $67.95. 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 issued its quarterly earnings data on Tuesday, July 29th. The company reported $0.92 EPS for the quarter, topping analysts' consensus estimates of $0.90 by $0.02. Carrier Global had a net margin of 18.33% and a return on equity of 17.83%. 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. As a group, equities research analysts anticipate 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.