Voya Investment Management LLC Decreases Stock Holdings in Carrier Global Corporation $CARR

Voya Investment Management LLC trimmed its holdings in shares of Carrier Global Corporation (NYSE:CARR) by 87.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 164,437 shares of the company’s stock after selling 1,096,068 shares during the quarter. Voya Investment Management LLC’s holdings in Carrier Global were worth $10,425,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of CARR. Nuveen LLC purchased a new stake in Carrier Global in the first quarter worth $649,512,000. JPMorgan Chase & Co. increased its position in Carrier Global by 17.6% in the first quarter. JPMorgan Chase & Co. now owns 31,126,869 shares of the company’s stock worth $1,973,444,000 after buying an additional 4,668,929 shares during the last quarter. Brown Advisory Inc. increased its position 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 buying an additional 4,377,402 shares during the last quarter. Alliancebernstein L.P. increased its position 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 buying an additional 1,651,873 shares during the last quarter. Finally, GAMMA Investing LLC increased its position 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 buying an additional 1,043,833 shares during the last quarter. 91.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CARR has been the subject of a number of recent research reports. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $79.00 target price on shares of Carrier Global in a research report on Tuesday, July 15th. Robert W. Baird reduced their price target on Carrier Global from $85.00 to $84.00 and set an “outperform” rating for the company in a research report on Wednesday, July 30th. Melius initiated coverage on Carrier Global in a research report on Tuesday, July 1st. They issued a “hold” rating and a $90.00 price target for the company. The Goldman Sachs Group reduced their price target on Carrier Global from $88.00 to $76.00 and set a “buy” rating for the company in a research report on Friday, September 12th. Finally, Melius Research upgraded Carrier Global to a “hold” rating and set a $90.00 price target for the company in a research report on Tuesday, July 1st. Eleven research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $82.12.

Carrier Global Price Performance

NYSE:CARR opened at $60.95 on Wednesday. The firm has a market capitalization of $51.87 billion, a price-to-earnings ratio of 13.28, a P/E/G ratio of 1.73 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. The stock has a fifty day moving average of $68.82 and a 200 day moving average of $68.04. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.80 and a current ratio of 1.17.

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. 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, research analysts expect that Carrier Global Corporation will post 2.99 EPS 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.