Cambridge Advisors Inc. Sells 500 Shares of Carrier Global Corporation $CARR

Cambridge Advisors Inc. lessened its stake in shares of Carrier Global Corporation (NYSE:CARR) by 9.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,586 shares of the company’s stock after selling 500 shares during the quarter. Cambridge Advisors Inc.’s holdings in Carrier Global were worth $336,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Bank Pictet & Cie Europe AG acquired a new position in Carrier Global during the 2nd quarter worth approximately $1,237,000. PineStone Asset Management Inc. grew its stake in Carrier Global by 12.8% in the second quarter. PineStone Asset Management Inc. now owns 5,300,483 shares of the company’s stock valued at $387,942,000 after acquiring an additional 601,967 shares during the period. Fortune Financial Advisors LLC increased its holdings in shares of Carrier Global by 12.0% during the second quarter. Fortune Financial Advisors LLC now owns 7,566 shares of the company’s stock valued at $554,000 after acquiring an additional 809 shares in the last quarter. Dakota Wealth Management raised its position in shares of Carrier Global by 4.9% during the second quarter. Dakota Wealth Management now owns 28,082 shares of the company’s stock worth $2,055,000 after purchasing an additional 1,312 shares during the period. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new position in shares of Carrier Global in the 2nd quarter worth $2,520,000. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Citigroup dropped their price objective on shares of Carrier Global from $89.00 to $75.00 and set a “buy” rating on the stock in a research note on Friday, September 12th. Royal Bank Of Canada dropped their price target on shares of Carrier Global from $87.00 to $75.00 and set an “outperform” rating on the stock in a research report on Friday, September 12th. The Goldman Sachs Group decreased their price objective on Carrier Global from $88.00 to $76.00 and set a “buy” rating for the company in a report on Friday, September 12th. Jefferies Financial Group reissued a “buy” rating on shares of Carrier Global in a research note on Thursday, September 11th. Finally, Mizuho dropped their target price on Carrier Global from $88.00 to $80.00 and set an “outperform” rating on the stock in a report on Monday, September 15th. Eleven equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $79.72.

Carrier Global Trading Down 0.6%

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

Carrier Global (NYSE:CARR) last released its earnings results 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 company had revenue of $6.11 billion during the quarter, compared to analyst estimates 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. On average, equities analysts expect 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.