Raub Brock Capital Management LP Cuts Position in Carrier Global Corporation $CARR

Key Points

• Raub Brock Capital Management LP reduced its position in Carrier Global Corporation by 2.8%, selling 7,000 shares during the 2nd quarter, bringing their total holdings to 245,356 shares valued at approximately $17.96 million.
• Institutional investors collectively own 91% of Carrier Global's stock, with significant increases in stakes from firms like JPMorgan Chase & Co. and Brown Advisory Inc. during the 1st quarter.
• Carrier Global reported earnings of $0.92 EPS for the last quarter, exceeding expectations, and analysts project a consensus target price of $78.47 with a "Moderate Buy" rating.

Raub Brock Capital Management LP decreased its holdings in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 2.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 245,356 shares of the company's stock after selling 7,000 shares during the period. Carrier Global accounts for about 3.9% of Raub Brock Capital Management LP's portfolio, making the stock its 9th biggest position. Raub Brock Capital Management LP's holdings in Carrier Global were worth $17,958,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. JPMorgan Chase & Co. raised its stake in Carrier Global by 17.6% during the 1st quarter. JPMorgan Chase & Co. now owns 31,126,869 shares of the company's stock worth $1,973,444,000 after buying an additional 4,668,929 shares during the period. Nuveen LLC acquired a new position in Carrier Global during the 1st quarter worth approximately $649,512,000. Brown Advisory Inc. raised its stake in Carrier Global by 82.6% during the 1st quarter. Brown Advisory Inc. now owns 9,673,979 shares of the company's stock worth $613,330,000 after buying an additional 4,377,402 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Carrier Global by 0.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 6,968,294 shares of the company's stock worth $441,790,000 after buying an additional 38,233 shares during the period. Finally, PineStone Asset Management Inc. raised its stake in Carrier Global by 12.8% during the 2nd quarter. PineStone Asset Management Inc. now owns 5,300,483 shares of the company's stock worth $387,942,000 after buying an additional 601,967 shares during the period. Institutional investors own 91.00% of the company's stock.

Carrier Global Stock Performance

Shares of Carrier Global stock opened at $59.11 on Wednesday. The company has a market cap of $50.30 billion, a PE ratio of 12.88, a price-to-earnings-growth ratio of 1.86 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 business has a 50 day moving average price of $63.61 and a 200-day moving average price of $67.39. 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 quarterly earnings data on Tuesday, July 29th. The company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.90 by $0.02. The firm had revenue of $6.11 billion during the quarter, compared to the consensus estimate 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. Equities analysts anticipate that Carrier Global Corporation will post 2.99 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CARR. Robert W. Baird dropped their price target on Carrier Global from $84.00 to $75.00 in a research note on Thursday, September 11th. Jefferies Financial Group reaffirmed a "buy" rating on shares of Carrier Global in a research note on Thursday, September 11th. Mizuho dropped their price target on Carrier Global from $88.00 to $80.00 and set an "outperform" rating on the stock in a research note on Monday, September 15th. Melius began coverage on Carrier Global in a research note on Tuesday, July 1st. They set a "hold" rating and a $90.00 price target on the stock. Finally, Wells Fargo & Company dropped their price target on Carrier Global from $75.00 to $65.00 and set an "equal weight" rating on the stock in a research note on Monday. Twelve research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $78.47.

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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