6,144 Shares in Carrier Global Corporation $CARR Bought by SCS Capital Management LLC

Key Points

• SCS Capital Management LLC has acquired 6,144 shares of Carrier Global Corporation, valued at approximately $390,000, during the 1st quarter of the year.
• Notable institutional investors, including JPMorgan Chase & Co. and Brown Advisory Inc., have significantly increased their stakes in Carrier Global, indicating strong interest in the company.
• Carrier Global Corporation reported earnings per share of $0.92 for the last quarter, exceeding analysts' expectations, and has set its FY 2025 guidance at 3.000-3.100 EPS.

SCS Capital Management LLC acquired a new stake in Carrier Global Corporation (NYSE:CARR - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 6,144 shares of the company's stock, valued at approximately $390,000.

Several other large investors have also added to or reduced their stakes in the business. Park Square Financial Group LLC acquired a new stake in Carrier Global in the 4th quarter valued at $28,000. Accredited Wealth Management LLC bought a new position in shares of Carrier Global in the 1st quarter valued at about $28,000. Mattson Financial Services LLC acquired a new stake in shares of Carrier Global in the fourth quarter valued at about $31,000. Investment Research & Advisory Group Inc. bought a new position in Carrier Global in the first quarter valued at approximately $29,000. Finally, Mascagni Wealth Management Inc. bought a new stake in shares of Carrier Global during the 4th quarter worth approximately $35,000. Institutional investors and hedge funds own 91.00% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on CARR. Melius began coverage on shares of Carrier Global in a report on Tuesday, July 1st. They set a "hold" rating and a $90.00 target price on the stock. Barclays cut their target price 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. Robert W. Baird dropped their price objective on Carrier Global from $85.00 to $84.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 30th. Morgan Stanley reduced their target price on Carrier Global from $78.00 to $75.00 and set an "equal weight" rating for the company in a research note on Friday, August 8th. Finally, JPMorgan Chase & Co. reissued a "neutral" rating and set a $79.00 target price on shares of Carrier Global in a report on Tuesday, July 15th. Ten equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, Carrier Global presently has an average rating of "Moderate Buy" and a consensus price target of $82.12.

Carrier Global Stock Performance

NYSE:CARR traded down $0.62 during mid-day trading on Friday, hitting $61.68. 5,224,873 shares of the stock were exchanged, compared to its average volume of 6,058,735. The firm's 50-day simple moving average is $69.37 and its 200 day simple moving average is $68.08. The stock has a market capitalization of $52.49 billion, a price-to-earnings ratio of 20.98, a price-to-earnings-growth ratio of 1.74 and a beta of 1.25. Carrier Global Corporation has a fifty-two week low of $54.22 and a fifty-two week high of $83.32. 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 posted its quarterly earnings data on Tuesday, July 29th. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.02. The firm had revenue of $6.11 billion for the quarter, compared to analysts' expectations 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. As a group, equities analysts anticipate that Carrier Global Corporation will post 2.99 EPS for the current fiscal year.

About Carrier Global

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.