Wealth Enhancement Advisory Services LLC Purchases 40,389 Shares of Carrier Global Corporation $CARR

Key Points

• Wealth Enhancement Advisory Services LLC increased its stake in Carrier Global Corporation by 7.3%, now owning 593,102 shares valued at approximately $44.9 million.
• Carrier Global recently reported earnings per share of $0.92, exceeding analysts' expectations, with a revenue of $6.11 billion for the quarter.
• Currently, the stock has a consensus rating of "Moderate Buy" with an average target price of $80.29 as assessed by multiple analysts.

Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 7.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 593,102 shares of the company's stock after purchasing an additional 40,389 shares during the quarter. Wealth Enhancement Advisory Services LLC owned about 0.07% of Carrier Global worth $44,868,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. Park Square Financial Group LLC acquired a new stake in shares of Carrier Global in the 4th quarter valued at about $28,000. Accredited Wealth Management LLC acquired a new stake in Carrier Global in the 1st quarter valued at $28,000. Investment Research & Advisory Group Inc. acquired a new position in shares of Carrier Global in the 1st quarter valued at approximately $29,000. Mattson Financial Services LLC bought a new stake in shares of Carrier Global in the 4th quarter valued at $31,000. Finally, Mascagni Wealth Management Inc. purchased a new stake in shares of Carrier Global in the fourth quarter valued at about $35,000. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on CARR shares. Mizuho decreased their target price on Carrier Global from $88.00 to $80.00 and set an "outperform" rating for the company in a research report on Monday, September 15th. Robert W. Baird cut their price objective on Carrier Global from $84.00 to $75.00 in a research report on Thursday, September 11th. Royal Bank Of Canada decreased their target price on Carrier Global from $87.00 to $75.00 and set an "outperform" rating on the stock in a research note on Friday, September 12th. Wolfe Research dropped their price objective on Carrier Global from $91.00 to $77.00 and set an "outperform" rating on the stock in a report on Friday, September 12th. Finally, Melius Research raised Carrier Global to a "hold" rating and set a $90.00 target price for the company in a research report on Tuesday, July 1st. Eleven analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $80.29.

Carrier Global Stock Down 1.2%

Shares of CARR stock traded down $0.71 during mid-day trading on Friday, hitting $60.39. 5,733,049 shares of the stock traded hands, compared to its average volume of 5,949,629. Carrier Global Corporation has a 52-week low of $54.22 and a 52-week high of $83.32. The stock's fifty day moving average is $67.88 and its two-hundred day moving average is $67.98. 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 stock has a market cap of $51.39 billion, a P/E ratio of 13.16, a P/E/G ratio of 1.86 and a beta of 1.25.

Carrier Global (NYSE:CARR - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $0.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 predict that Carrier Global Corporation will post 2.99 EPS for the current 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.