QRG Capital Management Inc. Raises Stake in Carrier Global Corporation $CARR

Key Points

• QRG Capital Management increased its Carrier Global stake by 15.5% in the second quarter, adding 20,372 shares to reach 152,176 shares valued at approximately $11.2 million. Institutional investors and hedge funds collectively own 91% of the stock.
• Analyst sentiment is generally positive: Carrier Global has a consensus rating of “Moderate Buy” and an average price target of $73.60, with ratings including one Strong Buy, 11 Buys, and nine Holds.
• Carrier Global’s latest quarterly results exceeded expectations, with adjusted EPS of $0.86 versus the $0.82 consensus and revenue of $6.35 billion versus estimates of $6.02 billion; revenue increased 3.9% year over year.

QRG Capital Management Inc. raised its position in Carrier Global Corporation (NYSE:CARR - Free Report) by 15.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 152,176 shares of the company's stock after purchasing an additional 20,372 shares during the period. QRG Capital Management Inc.'s holdings in Carrier Global were worth $11,162,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of CARR. Johnson Financial Group Inc. purchased a new position in Carrier Global in the second quarter valued at $25,000. Meeder Asset Management Inc. purchased a new position in shares of Carrier Global in the 2nd quarter valued at about $26,000. Financial Management Professionals Inc. raised its position in shares of Carrier Global by 142.4% during the 2nd quarter. Financial Management Professionals Inc. now owns 383 shares of the company's stock worth $28,000 after acquiring an additional 225 shares in the last quarter. Burnham & Co LLC acquired a new position in Carrier Global in the second quarter valued at approximately $37,000. Finally, Signature Equity Partners LLC boosted its holdings in Carrier Global by 449.2% in the first quarter. Signature Equity Partners LLC now owns 648 shares of the company's stock valued at $36,000 after purchasing an additional 530 shares in the last quarter. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Zacks Research raised shares of Carrier Global from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 30th. Wolfe Research reaffirmed an "outperform" rating and issued a $80.00 target price on shares of Carrier Global in a research report on Thursday, July 9th. Citigroup lifted their target price on Carrier Global from $79.00 to $80.00 and gave the stock a "buy" rating in a research report on Monday, July 13th. Morgan Stanley boosted their price objective on Carrier Global from $55.00 to $60.00 and gave the company an "equal weight" rating in a research note on Thursday, May 28th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Carrier Global in a report on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and nine have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $73.60.

Carrier Global Trading Down 0.2%

Shares of CARR stock opened at $55.14 on Thursday. The business's fifty day moving average price is $61.11 and its 200 day moving average price is $63.09. Carrier Global Corporation has a 1-year low of $50.24 and a 1-year high of $76.76. The firm has a market capitalization of $45.46 billion, a PE ratio of 38.29, a P/E/G ratio of 2.13 and a beta of 1.30. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.02 and a quick ratio of 0.72.

Carrier Global (NYSE:CARR - Get Free Report) last issued its earnings results on Tuesday, July 28th. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.82 by $0.04. Carrier Global had a net margin of 5.52% and a return on equity of 14.68%. The company had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.02 billion. During the same period in the previous year, the firm earned $0.92 EPS. The business's revenue was up 3.9% on a year-over-year basis. Carrier Global has set its FY 2026 guidance at 2.900-2.900 EPS. As a group, sell-side analysts forecast that Carrier Global Corporation will post 2.87 EPS for the current fiscal year.

Carrier Global Profile

Carrier Global Corporation NYSE: CARR is a global provider of intelligent climate and energy solutions. The company develops and manufactures heating, ventilation and air conditioning (HVAC) systems and related controls, building automation technologies, and services designed to improve indoor comfort, energy efficiency and building performance.

Carrier also provides refrigeration equipment and systems for commercial, industrial and transportation applications, supporting food preservation and cold-chain operations.

Want to see what other hedge funds are holding CARR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Carrier Global Corporation (NYSE:CARR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.