Oppenheimer & Co. Inc. Reduces Stock Position in Carrier Global Co. (NYSE:CARR)

Oppenheimer & Co. Inc. lessened its holdings in Carrier Global Co. (NYSE:CARR) by 61.9% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 52,456 shares of the company’s stock after selling 85,114 shares during the period. Oppenheimer & Co. Inc.’s holdings in Carrier Global were worth $3,309,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in CARR. Aveo Capital Partners LLC raised its position in shares of Carrier Global by 3.9% in the fourth quarter. Aveo Capital Partners LLC now owns 5,395 shares of the company’s stock worth $310,000 after buying an additional 205 shares in the last quarter. Jump Financial LLC bought a new position in Carrier Global in the fourth quarter valued at $241,000. Envestnet Portfolio Solutions Inc. increased its stake in Carrier Global by 11.4% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 25,252 shares of the company’s stock valued at $1,451,000 after acquiring an additional 2,576 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in Carrier Global by 6.7% in the fourth quarter. Janney Montgomery Scott LLC now owns 155,048 shares of the company’s stock valued at $8,908,000 after acquiring an additional 9,713 shares during the last quarter. Finally, Beacon Pointe Advisors LLC increased its stake in Carrier Global by 6.9% in the fourth quarter. Beacon Pointe Advisors LLC now owns 46,397 shares of the company’s stock valued at $2,665,000 after acquiring an additional 2,996 shares during the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Performance

Carrier Global stock opened at $76.51 on Monday. The company has a current ratio of 1.08, a quick ratio of 0.80 and a debt-to-equity ratio of 0.80. The firm has a 50-day moving average of $68.05 and a 200-day moving average of $63.28. The firm has a market cap of $68.94 billion, a P/E ratio of 53.50, a P/E/G ratio of 2.94 and a beta of 1.32. Carrier Global Co. has a 1-year low of $45.68 and a 1-year high of $77.48.

Carrier Global (NYSE:CARR) last posted its earnings results on Thursday, July 25th. The company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. The company had revenue of $6.70 billion during the quarter, compared to analyst estimates of $7.05 billion. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. Carrier Global’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.79 earnings per share. Sell-side analysts expect that Carrier Global Co. will post 2.84 EPS for the current year.

Insider Transactions at Carrier Global

In other news, VP Ajay Agrawal sold 62,382 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $64.55, for a total transaction of $4,026,758.10. Following the completion of the sale, the vice president now directly owns 103,066 shares in the company, valued at $6,652,910.30. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 6.95% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CARR. Citigroup raised Carrier Global from a “neutral” rating to a “buy” rating and increased their target price for the company from $65.00 to $74.00 in a research note on Monday, June 24th. Wolfe Research raised Carrier Global from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Robert W. Baird reduced their target price on Carrier Global from $75.00 to $74.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. Barclays increased their target price on Carrier Global from $79.00 to $81.00 and gave the company an “overweight” rating in a research note on Friday, June 14th. Finally, Wells Fargo & Company raised their price objective on Carrier Global from $66.00 to $73.00 and gave the company an “equal weight” rating in a research note on Friday, September 6th. One research analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Carrier Global has a consensus rating of “Moderate Buy” and an average price target of $71.73.

About Carrier Global

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.