Voya Investment Management LLC Reduces Holdings in Carrier Global Corporation $CARR

Key Points

• Voya Investment Management LLC has significantly reduced its holdings in Carrier Global Corporation by 87.0%, selling over 1 million shares in the first quarter, leaving them with approximately 164,437 shares valued at $10.4 million.
• Despite Voya's divestment, several other large investors, including JPMorgan Chase & Co. and Brown Advisory Inc., have increased their stakes in Carrier Global during the same quarter.
• Carrier Global's latest earnings report shows an EPS of $0.92, beating expectations, while analysts maintain a consensus rating of "Moderate Buy" with an average price target of $82.12.

Voya Investment Management LLC lowered its stake in Carrier Global Corporation (NYSE:CARR - Free Report) by 87.0% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 164,437 shares of the company's stock after selling 1,096,068 shares during the period. Voya Investment Management LLC's holdings in Carrier Global were worth $10,425,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of CARR. Golden State Wealth Management LLC increased its position in Carrier Global by 51.8% during the 1st quarter. Golden State Wealth Management LLC now owns 1,389 shares of the company's stock worth $88,000 after purchasing an additional 474 shares in the last quarter. Bessemer Group Inc. increased its position in Carrier Global by 15.7% in the 1st quarter. Bessemer Group Inc. now owns 28,768 shares of the company's stock valued at $1,823,000 after acquiring an additional 3,900 shares during the period. Sowell Financial Services LLC acquired a new position in Carrier Global in the 1st quarter valued at approximately $234,000. Ransom Advisory Ltd acquired a new position in Carrier Global in the 1st quarter valued at approximately $400,000. Finally, Aberdeen Group plc increased its position in Carrier Global by 1.8% in the 1st quarter. Aberdeen Group plc now owns 717,658 shares of the company's stock valued at $44,854,000 after acquiring an additional 12,346 shares during the period. Institutional investors own 91.00% of the company's stock.

Carrier Global Stock Performance

Shares of CARR traded down $0.71 during trading hours on Friday, hitting $60.39. The company's stock had a trading volume of 5,733,049 shares, compared to its average volume of 5,949,629. The company has a market cap of $51.39 billion, a price-to-earnings ratio of 13.16, a PEG ratio of 1.88 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. The business has a 50 day simple moving average of $67.88 and a two-hundred day simple moving average of $67.96. Carrier Global Corporation has a 52-week low of $54.22 and a 52-week high of $83.32.

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on CARR shares. The Goldman Sachs Group decreased their price objective on shares of Carrier Global from $88.00 to $76.00 and set a "buy" rating for the company in a research report on Friday, September 12th. Barclays decreased their price objective on shares of Carrier Global from $82.00 to $74.00 and set an "overweight" rating for the company in a research report on Thursday, September 11th. Oppenheimer decreased their price objective on shares of Carrier Global from $85.00 to $75.00 and set an "outperform" rating for the company in a research report on Wednesday. Melius began coverage on shares of Carrier Global in a research note on Tuesday, July 1st. They set a "hold" rating and a $90.00 target price on the stock. Finally, Jefferies Financial Group reissued a "buy" rating on shares of Carrier Global in a research note on Thursday, September 11th. Eleven 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, Carrier Global currently has an average rating of "Moderate Buy" and an average price target of $80.29.

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.