ProShare Advisors LLC grew its stake in shares of Carrier Global Co. (NYSE:CARR – Free Report) by 18.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 122,992 shares of the company’s stock after acquiring an additional 19,328 shares during the quarter. ProShare Advisors LLC’s holdings in Carrier Global were worth $5,627,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of CARR. American Century Companies Inc. boosted its position in shares of Carrier Global by 29.2% during the first quarter. American Century Companies Inc. now owns 16,359 shares of the company’s stock valued at $750,000 after buying an additional 3,700 shares during the last quarter. Panagora Asset Management Inc. boosted its position in Carrier Global by 40.1% in the first quarter. Panagora Asset Management Inc. now owns 36,481 shares of the company’s stock worth $1,673,000 after purchasing an additional 10,445 shares during the last quarter. Sequoia Financial Advisors LLC boosted its position in Carrier Global by 23.2% in the first quarter. Sequoia Financial Advisors LLC now owns 7,493 shares of the company’s stock worth $343,000 after purchasing an additional 1,412 shares during the last quarter. Candriam Luxembourg S.C.A. boosted its position in Carrier Global by 22.7% in the first quarter. Candriam Luxembourg S.C.A. now owns 65,241 shares of the company’s stock worth $2,992,000 after purchasing an additional 12,089 shares during the last quarter. Finally, Baird Financial Group Inc. boosted its position in Carrier Global by 10.6% in the first quarter. Baird Financial Group Inc. now owns 786,543 shares of the company’s stock worth $36,078,000 after purchasing an additional 75,622 shares during the last quarter. 91.47% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other Carrier Global news, insider Jurgen Timperman sold 164,450 shares of the company’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $59.25, for a total value of $9,743,662.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Kyle Crockett sold 6,817 shares of the business’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $59.22, for a total value of $403,702.74. Following the completion of the transaction, the vice president now directly owns 42 shares of the company’s stock, valued at approximately $2,487.24. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Jurgen Timperman sold 164,450 shares of the company’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $59.25, for a total value of $9,743,662.50. The disclosure for this sale can be found here. Company insiders own 0.38% of the company’s stock.
Analyst Ratings Changes
Several research analysts have issued reports on CARR shares. Mizuho cut Carrier Global from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $63.00 to $61.00 in a research report on Thursday. UBS Group raised their target price on Carrier Global from $47.00 to $60.00 and gave the stock a “neutral” rating in a research report on Friday, September 8th. Citigroup raised their price objective on Carrier Global from $45.00 to $52.00 in a research note on Monday, July 10th. Argus raised their price objective on Carrier Global from $52.00 to $68.00 and gave the stock a “buy” rating in a research note on Tuesday, August 1st. Finally, Royal Bank of Canada lifted their target price on Carrier Global from $54.00 to $64.00 and gave the company an “outperform” rating in a research note on Friday, July 28th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Carrier Global presently has a consensus rating of “Moderate Buy” and an average target price of $55.41.
View Our Latest Stock Analysis on CARR
Carrier Global Price Performance
Shares of CARR stock opened at $54.46 on Monday. Carrier Global Co. has a twelve month low of $33.10 and a twelve month high of $60.04. The stock has a market capitalization of $45.62 billion, a price-to-earnings ratio of 21.61, a P/E/G ratio of 2.16 and a beta of 1.42. The stock has a fifty day simple moving average of $55.75 and a two-hundred day simple moving average of $48.53. The company has a current ratio of 1.63, a quick ratio of 1.19 and a debt-to-equity ratio of 1.04.
Carrier Global (NYSE:CARR – Get Free Report) last issued its earnings results on Thursday, July 27th. The company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.03. Carrier Global had a return on equity of 25.42% and a net margin of 9.87%. The business had revenue of $6 billion during the quarter, compared to analysts’ expectations of $5.83 billion. During the same period in the prior year, the business earned $0.69 EPS. The business’s revenue for the quarter was up 15.1% compared to the same quarter last year. On average, analysts predict that Carrier Global Co. will post 2.62 EPS for the current fiscal year.
About Carrier Global
Carrier Global Corporation provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies worldwide. It operates through three segments: HVAC, Refrigeration, and Fire & Security. The HVAC segment provides products, controls, services, and solutions to meet the heating, cooling, and ventilation needs of residential and commercial customers.
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