Swedbank AB Boosts Holdings in Carrier Global Corporation $CARR

Key Points

• Swedbank AB increased its stake in Carrier Global Corporation by 6.9% by acquiring an additional 27,900 shares, bringing its total holdings to approximately 431,698 shares valued at $31.6 million.
• Several institutional investors have adjusted their positions in Carrier Global, with 91% of the stock currently owned by institutional investors.
• Carrier Global's shares have a current market cap of $51.39 billion and reported earnings of $0.92 per share, surpassing analyst expectations of $0.90.

Swedbank AB raised its holdings in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 6.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 431,698 shares of the company's stock after acquiring an additional 27,900 shares during the quarter. Swedbank AB owned approximately 0.05% of Carrier Global worth $31,596,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. JPMorgan Chase & Co. raised its position in shares of Carrier Global by 17.6% during the 1st quarter. JPMorgan Chase & Co. now owns 31,126,869 shares of the company's stock valued at $1,973,444,000 after purchasing an additional 4,668,929 shares during the period. Nuveen LLC bought a new stake in shares of Carrier Global during the 1st quarter valued at $649,512,000. Brown Advisory Inc. raised its position in shares of Carrier Global by 82.6% during the 1st quarter. Brown Advisory Inc. now owns 9,673,979 shares of the company's stock valued at $613,330,000 after purchasing an additional 4,377,402 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of 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 valued at $441,790,000 after purchasing an additional 38,233 shares during the period. Finally, Invesco Ltd. raised its position in shares of Carrier Global by 2.1% during the 1st quarter. Invesco Ltd. now owns 5,165,203 shares of the company's stock valued at $327,474,000 after purchasing an additional 108,055 shares during the period. Hedge funds and other institutional investors own 91.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on CARR shares. Robert W. Baird decreased their price objective on shares of Carrier Global from $84.00 to $75.00 in a research report on Thursday, September 11th. Melius assumed coverage on shares of Carrier Global in a research report on Tuesday, July 1st. They set a "hold" rating and a $90.00 price objective on the stock. The Goldman Sachs Group reduced their price target on shares of Carrier Global from $88.00 to $76.00 and set a "buy" rating on the stock in a report on Friday, September 12th. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $79.00 price target on shares of Carrier Global in a report on Tuesday, July 15th. Finally, Barclays reduced their price target on shares of Carrier Global from $82.00 to $74.00 and set an "overweight" rating on the stock in a report on Thursday, September 11th. Eleven research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $80.29.

Carrier Global Price Performance

CARR traded down $0.71 during midday trading on Friday, hitting $60.39. 5,733,049 shares of the company traded hands, compared to its average volume of 5,949,629. The company has a current ratio of 1.17, a quick ratio of 0.80 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $51.39 billion, a price-to-earnings ratio of 13.16, a PEG 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 simple moving average of $67.88 and a two-hundred day simple moving average of $67.98.

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 (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.02. The business had revenue of $6.11 billion for 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. On average, equities analysts forecast that Carrier Global Corporation will post 2.99 earnings per share for the current fiscal year.

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.