Somerville Kurt F Acquires 5,495 Shares of Carrier Global Corporation $CARR

Key Points

• Somerville Kurt F increased its stake in Carrier Global Corporation by 5,495 shares, bringing its total ownership to 168,632 shares, valued at approximately $12.34 million.
• Carrier Global's stock has a market capitalization of $50.30 billion and reported a quarterly EPS of $0.92, exceeding analysts' expectations of $0.90.
• Recent price targets for Carrier Global have seen downgrades by various analysts, with Barclays reducing their target from $82 to $74 while still maintaining an "overweight" rating.

Somerville Kurt F grew its stake in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 3.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 168,632 shares of the company's stock after buying an additional 5,495 shares during the period. Carrier Global accounts for about 2.1% of Somerville Kurt F's investment portfolio, making the stock its 23rd largest position. Somerville Kurt F's holdings in Carrier Global were worth $12,342,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Accredited Wealth Management LLC bought a new stake in Carrier Global in the 1st quarter valued at $28,000. Investment Research & Advisory Group Inc. bought a new position in shares of Carrier Global during the 1st quarter valued at about $29,000. REAP Financial Group LLC purchased a new position in shares of Carrier Global during the second quarter valued at about $29,000. Graybill Wealth Management LTD. purchased a new position in shares of Carrier Global during the first quarter valued at about $38,000. Finally, Cheviot Value Management LLC bought a new stake in shares of Carrier Global in the first quarter worth about $38,000. Hedge funds and other institutional investors own 91.00% of the company's stock.

Carrier Global Trading Down 1.2%

Shares of NYSE CARR opened at $59.11 on Wednesday. Carrier Global Corporation has a 1-year low of $54.22 and a 1-year high of $83.32. The business has a fifty day moving average price of $63.61 and a 200 day moving average price of $67.39. The stock has a market capitalization of $50.30 billion, a P/E ratio of 12.88, a price-to-earnings-growth ratio of 1.86 and a beta of 1.25. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.17 and a quick ratio of 0.80.

Carrier Global (NYSE:CARR - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported $0.92 EPS for the quarter, topping analysts' consensus estimates of $0.90 by $0.02. The business had revenue of $6.11 billion during the quarter, compared to the consensus estimate of $6.08 billion. Carrier Global had a net margin of 18.33% and a return on equity of 17.83%. Carrier Global has set its FY 2025 guidance at 3.000-3.100 EPS. Equities research analysts expect that Carrier Global Corporation will post 2.99 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CARR has been the subject of a number of research reports. Barclays dropped their price target on Carrier Global from $82.00 to $74.00 and set an "overweight" rating for the company in a research note on Thursday, September 11th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $79.00 price objective on shares of Carrier Global in a report on Tuesday, July 15th. Wells Fargo & Company cut their target price on shares of Carrier Global from $75.00 to $65.00 and set an "equal weight" rating for the company in a report on Monday. Royal Bank Of Canada lowered their target price on Carrier Global from $87.00 to $75.00 and set an "outperform" rating for the company in a report on Friday, September 12th. Finally, Oppenheimer dropped their price target on Carrier Global from $85.00 to $75.00 and set an "outperform" rating on the stock in a research report on Wednesday, September 17th. Twelve equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, Carrier Global currently has an average rating of "Moderate Buy" and an average price target of $78.47.

Carrier Global 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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