Burgundy Asset Management Ltd. Has $235.95 Million Holdings in Carrier Global Co. (NYSE:CARR)

Burgundy Asset Management Ltd. lowered its position in Carrier Global Co. (NYSE:CARR) by 1.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,740,508 shares of the company’s stock after selling 45,455 shares during the quarter. Carrier Global makes up approximately 2.5% of Burgundy Asset Management Ltd.’s portfolio, making the stock its 8th biggest position. Burgundy Asset Management Ltd. owned about 0.42% of Carrier Global worth $235,951,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of CARR. Olistico Wealth LLC purchased a new stake in shares of Carrier Global in the 2nd quarter valued at $25,000. Meeder Asset Management Inc. lifted its stake in Carrier Global by 675.0% in the second quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock worth $29,000 after purchasing an additional 405 shares during the last quarter. EdgeRock Capital LLC purchased a new stake in Carrier Global during the second quarter valued at about $32,000. United Community Bank bought a new position in shares of Carrier Global during the fourth quarter valued at about $34,000. Finally, Register Financial Advisors LLC purchased a new position in shares of Carrier Global in the first quarter worth about $34,000. 91.00% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, VP Ajay Agrawal sold 62,382 shares of the company’s 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 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 through the SEC website. Insiders own 6.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CARR. Wolfe Research upgraded Carrier Global from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Baird R W raised shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 15th. Barclays boosted their price objective on shares of Carrier Global from $79.00 to $81.00 and gave the company an “overweight” rating in a research report on Friday, June 14th. Citigroup upgraded shares of Carrier Global from a “neutral” rating to a “buy” rating and increased their target price for the stock from $65.00 to $74.00 in a report on Monday, June 24th. Finally, Bank of America raised their target price on Carrier Global from $72.00 to $80.00 and gave the stock a “neutral” rating in a research note on Friday, September 13th. One analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $71.73.

Carrier Global Stock Up 0.3 %

Shares of Carrier Global stock opened at $78.19 on Thursday. The company has a quick ratio of 0.80, a current ratio of 1.08 and a debt-to-equity ratio of 0.80. Carrier Global Co. has a twelve month low of $45.68 and a twelve month high of $79.75. The company has a market cap of $70.45 billion, a price-to-earnings ratio of 54.68, a price-to-earnings-growth ratio of 2.94 and a beta of 1.32. The company’s 50 day moving average is $68.93 and its 200 day moving average is $63.69.

Carrier Global (NYSE:CARR) last released its quarterly earnings results 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. The firm had revenue of $6.70 billion for the quarter, compared to analysts’ expectations of $7.05 billion. Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. The company’s revenue was up 11.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.79 EPS. Research analysts anticipate 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.