Fortune Financial Advisors LLC Buys 809 Shares of Carrier Global Corporation $CARR

Fortune Financial Advisors LLC lifted its stake in shares of Carrier Global Corporation (NYSE:CARR) by 12.0% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 7,566 shares of the company’s stock after buying an additional 809 shares during the period. Fortune Financial Advisors LLC’s holdings in Carrier Global were worth $554,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of CARR. Nuveen LLC purchased a new position in shares of Carrier Global during the 1st quarter worth approximately $649,512,000. JPMorgan Chase & Co. boosted its position in shares of Carrier Global by 17.6% during the first 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 in the last quarter. Brown Advisory Inc. grew its stake in Carrier Global by 82.6% in the first 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 period. Alliancebernstein L.P. grew its stake in Carrier Global by 61.9% in the first quarter. Alliancebernstein L.P. now owns 4,318,806 shares of the company’s stock worth $273,812,000 after purchasing an additional 1,651,873 shares during the period. Finally, GAMMA Investing LLC raised its holdings in Carrier Global by 7,043.4% in the first quarter. GAMMA Investing LLC now owns 1,058,653 shares of the company’s stock worth $67,119,000 after purchasing an additional 1,043,833 shares in the last quarter. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Carrier Global Trading Down 0.6%

NYSE:CARR opened at $58.67 on Friday. The stock has a market cap of $49.93 billion, a price-to-earnings ratio of 12.78, a PEG ratio of 1.82 and a beta of 1.25. The company has a quick ratio of 0.80, a current ratio of 1.17 and a debt-to-equity ratio of 0.76. The company’s 50 day moving average price is $66.54 and its 200-day moving average price is $67.77. Carrier Global Corporation has a 52 week low of $54.22 and a 52 week high of $83.32.

Carrier Global (NYSE:CARR) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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, equities research analysts forecast that Carrier Global Corporation will post 2.99 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on CARR shares. Melius Research raised shares of Carrier Global to a “hold” rating and set a $90.00 target price on the stock in a research report on Tuesday, July 1st. Barclays cut their price objective 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. Mizuho lowered their target price on shares of Carrier Global from $88.00 to $80.00 and set an “outperform” rating for the company in a report on Monday, September 15th. Deutsche Bank Aktiengesellschaft dropped their price target on Carrier Global from $73.00 to $70.00 and set a “hold” rating on the stock in a research report on Tuesday. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Carrier Global in a research report on Thursday, September 11th. Eleven research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Carrier Global presently has a consensus rating of “Moderate Buy” and a consensus price target of $79.72.

About Carrier Global

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.