Carrier Global Corporation $CARR Position Trimmed by Chemung Canal Trust Co.

Chemung Canal Trust Co. cut its stake in shares of Carrier Global Corporation (NYSE:CARR) by 13.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,022 shares of the company’s stock after selling 924 shares during the quarter. Chemung Canal Trust Co.’s holdings in Carrier Global were worth $441,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of CARR. Nuveen LLC acquired a new stake in Carrier Global during the 1st quarter worth about $649,512,000. JPMorgan Chase & Co. lifted its position in shares of Carrier Global by 17.6% in the 1st quarter. JPMorgan Chase & Co. now owns 31,126,869 shares of the company’s stock valued at $1,973,444,000 after acquiring an additional 4,668,929 shares in the last quarter. Brown Advisory Inc. boosted its stake in Carrier Global by 82.6% in 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 period. Alliancebernstein L.P. grew its position in Carrier Global by 61.9% during the 1st 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 in the last quarter. Finally, Victory Capital Management Inc. raised its stake in Carrier Global by 23.5% during the 1st quarter. Victory Capital Management Inc. now owns 4,512,774 shares of the company’s stock valued at $286,110,000 after purchasing an additional 857,694 shares during the period. 91.00% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CARR has been the topic of a number of research analyst reports. Mizuho lowered their price target on Carrier Global from $88.00 to $80.00 and set an “outperform” rating on the stock in a report on Monday, September 15th. Citigroup lowered their target price on Carrier Global from $89.00 to $75.00 and set a “buy” rating on the stock in a research note on Friday, September 12th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Carrier Global from $73.00 to $70.00 and set a “hold” rating for the company in a research report on Tuesday, September 23rd. Wolfe Research cut their target price on shares of Carrier Global from $91.00 to $77.00 and set an “outperform” rating for the company in a research report on Friday, September 12th. Finally, Royal Bank Of Canada lowered their price target on shares of Carrier Global from $87.00 to $75.00 and set an “outperform” rating on the stock in a report on Friday, September 12th. Twelve investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Carrier Global has a consensus rating of “Moderate Buy” and a consensus price target of $79.00.

Carrier Global Trading Up 1.2%

Shares of NYSE:CARR opened at $59.63 on Friday. 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 stock’s 50-day moving average is $64.27 and its 200-day moving average is $67.49. The company has a market cap of $50.75 billion, a P/E ratio of 12.99, a P/E/G ratio of 1.86 and a beta of 1.25. Carrier Global Corporation has a 52-week low of $54.22 and a 52-week high of $83.32.

Carrier Global (NYSE:CARR) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $0.92 EPS for the quarter, topping 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 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. Equities research analysts predict that Carrier Global Corporation will post 2.99 earnings per share for the current year.

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.