Grove Bank & Trust Sells 2,738 Shares of Carrier Global Corporation $CARR

Grove Bank & Trust cut its holdings in Carrier Global Corporation (NYSE:CARR) by 59.8% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,842 shares of the company’s stock after selling 2,738 shares during the period. Grove Bank & Trust’s holdings in Carrier Global were worth $135,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Golden State Wealth Management LLC lifted its stake in Carrier Global by 51.8% in the first quarter. Golden State Wealth Management LLC now owns 1,389 shares of the company’s stock worth $88,000 after purchasing an additional 474 shares during the last quarter. Bessemer Group Inc. lifted its position in Carrier Global by 15.7% during the first quarter. Bessemer Group Inc. now owns 28,768 shares of the company’s stock valued at $1,823,000 after purchasing an additional 3,900 shares during the last quarter. Sowell Financial Services LLC bought a new position in Carrier Global during the first quarter valued at $234,000. Ransom Advisory Ltd bought a new position in Carrier Global during the first quarter valued at $400,000. Finally, Aberdeen Group plc lifted its holdings in shares of Carrier Global by 1.8% in the 1st quarter. Aberdeen Group plc now owns 717,658 shares of the company’s stock worth $44,854,000 after acquiring an additional 12,346 shares during the last quarter. 91.00% of the stock is owned by institutional investors.

Carrier Global Stock Down 1.2%

CARR stock opened at $60.39 on Friday. 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 stock has a market cap of $51.39 billion, a P/E ratio of 13.16, a PEG ratio of 1.88 and a beta of 1.25. The company’s 50 day moving average is $67.88 and its two-hundred day moving average is $67.96. Carrier Global Corporation has a twelve month low of $54.22 and a twelve month high of $83.32.

Carrier Global (NYSE:CARR) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02. Carrier Global had a net margin of 18.33% and a return on equity of 17.83%. The firm had revenue of $6.11 billion for the quarter, compared to analyst estimates of $6.08 billion. Carrier Global has set its FY 2025 guidance at 3.000-3.100 EPS. Research analysts expect that Carrier Global Corporation will post 2.99 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have commented on CARR. Mizuho cut their target price on shares of Carrier Global from $88.00 to $80.00 and set an “outperform” rating on the stock in a research report on Monday, September 15th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $79.00 target price on shares of Carrier Global in a research report on Tuesday, July 15th. Oppenheimer cut their target price on shares of Carrier Global from $85.00 to $75.00 and set an “outperform” rating on the stock in a research report on Wednesday. Jefferies Financial Group reissued a “buy” rating on shares of Carrier Global in a research report on Thursday, September 11th. Finally, Morgan Stanley cut their price objective on shares of Carrier Global from $78.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Friday, August 8th. Eleven investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, Carrier Global has an average rating of “Moderate Buy” and an average target price of $80.29.

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.