Thoroughbred Financial Services LLC Purchases New Position in Carrier Global Co. (NYSE:CARR)

Thoroughbred Financial Services LLC purchased a new stake in Carrier Global Co. (NYSE:CARR) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 4,242 shares of the company’s stock, valued at approximately $267,000.

Several other hedge funds have also recently bought and sold shares of the stock. Olistico Wealth LLC acquired a new stake in shares of Carrier Global during the 2nd quarter worth about $25,000. Meeder Asset Management Inc. increased its holdings in shares of Carrier Global by 675.0% during the second quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock worth $29,000 after buying an additional 405 shares in the last quarter. EdgeRock Capital LLC bought a new position in shares of Carrier Global in the second quarter valued at approximately $32,000. Hantz Financial Services Inc. bought a new stake in Carrier Global during the 2nd quarter worth approximately $35,000. Finally, Family Firm Inc. acquired a new stake in Carrier Global during the 2nd quarter valued at $37,000. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, VP Ajay Agrawal sold 62,382 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $64.55, for a total value of $4,026,758.10. Following the sale, the vice president now directly owns 103,066 shares of the company’s stock, valued at approximately $6,652,910.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 6.95% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the company. Royal Bank of Canada increased their target price on Carrier Global from $72.00 to $79.00 and gave the stock an “outperform” rating in a report on Thursday, September 5th. Robert W. Baird lowered their price objective on shares of Carrier Global from $75.00 to $74.00 and set an “outperform” rating for the company in a research report on Friday, July 26th. Citigroup upgraded shares of Carrier Global from a “neutral” rating to a “buy” rating and upped their target price for the stock from $65.00 to $74.00 in a research report on Monday, June 24th. Wells Fargo & Company raised their price target on shares of Carrier Global from $66.00 to $73.00 and gave the company an “equal weight” rating in a report on Friday, September 6th. Finally, Wolfe Research raised Carrier Global from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $71.73.

Carrier Global Stock Performance

Shares of Carrier Global stock opened at $78.00 on Wednesday. The stock’s fifty day simple moving average is $68.64 and its 200 day simple moving average is $63.59. 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 company has a market capitalization of $70.28 billion, a PE ratio of 54.55, a PEG ratio of 2.94 and a beta of 1.32. Carrier Global Co. has a 12 month low of $45.68 and a 12 month high of $78.00.

Carrier Global (NYSE:CARR) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.02. Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. The business had revenue of $6.70 billion for the quarter, compared to analysts’ expectations of $7.05 billion. During the same quarter in the previous year, the business posted $0.79 EPS. Carrier Global’s revenue for the quarter was up 11.7% on a year-over-year basis. On average, research analysts predict that Carrier Global Co. will post 2.84 EPS 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.