Carrier Global Corporation $CARR Shares Bought by Merit Financial Group LLC

Merit Financial Group LLC increased its position in shares of Carrier Global Corporation (NYSE:CARR) by 21.3% in the 2nd quarter, Holdings Channel reports. The firm owned 46,113 shares of the company’s stock after purchasing an additional 8,103 shares during the period. Merit Financial Group LLC’s holdings in Carrier Global were worth $3,375,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its stake in Carrier Global by 17.6% during the 1st quarter. JPMorgan Chase & Co. now owns 31,126,869 shares of the company’s stock worth $1,973,444,000 after purchasing an additional 4,668,929 shares during the last quarter. Nuveen LLC acquired a new stake in Carrier Global during the 1st quarter worth $649,512,000. Brown Advisory Inc. boosted its stake in Carrier Global by 82.6% during the 1st quarter. Brown Advisory Inc. now owns 9,673,979 shares of the company’s stock worth $613,330,000 after purchasing an additional 4,377,402 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in 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 worth $441,790,000 after purchasing an additional 38,233 shares during the last quarter. Finally, PineStone Asset Management Inc. boosted its stake in Carrier Global by 12.8% during the 2nd quarter. PineStone Asset Management Inc. now owns 5,300,483 shares of the company’s stock worth $387,942,000 after purchasing an additional 601,967 shares during the last quarter. 91.00% of the stock is owned by institutional investors and hedge funds.

Carrier Global Price Performance

CARR stock opened at $59.11 on Wednesday. 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 $50.30 billion, a PE ratio of 12.88, a P/E/G ratio of 1.86 and a beta of 1.25. Carrier Global Corporation has a 12-month low of $54.22 and a 12-month high of $83.32. The business’s fifty day moving average price is $63.61 and its 200 day moving average price is $67.39.

Carrier Global (NYSE:CARR) 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. Carrier Global had a return on equity of 17.83% and a net margin of 18.33%.The firm had revenue of $6.11 billion for the quarter, compared to the consensus estimate of $6.08 billion. Carrier Global has set its FY 2025 guidance at 3.000-3.100 EPS. On average, sell-side analysts anticipate that Carrier Global Corporation will post 2.99 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Rothschild & Co Redburn lowered their target price on shares of Carrier Global from $76.00 to $66.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 1st. Wolfe Research lowered their price objective on Carrier Global from $91.00 to $77.00 and set an “outperform” rating on the stock in a research note on Friday, September 12th. Mizuho lowered their price objective on Carrier Global from $88.00 to $80.00 and set an “outperform” rating on the stock in a research note on Monday, September 15th. Robert W. Baird lowered their price objective on Carrier Global from $84.00 to $75.00 in a research note on Thursday, September 11th. Finally, Morgan Stanley lowered their price objective on Carrier Global from $78.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Friday, August 8th. Twelve research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.