Carolinas Wealth Consulting LLC Raises Stake in Carrier Global Co. (NYSE:CARR)

Carolinas Wealth Consulting LLC boosted its holdings in shares of Carrier Global Co. (NYSE:CARR) by 141.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,843 shares of the company’s stock after acquiring an additional 2,251 shares during the period. Carolinas Wealth Consulting LLC’s holdings in Carrier Global were worth $242,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Olistico Wealth LLC purchased a new position in Carrier Global during the 2nd quarter valued at about $25,000. Meeder Asset Management Inc. lifted its position in Carrier Global by 675.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock valued at $29,000 after acquiring an additional 405 shares during the period. EdgeRock Capital LLC purchased a new position in Carrier Global during the 2nd quarter valued at about $32,000. Hantz Financial Services Inc. purchased a new position in Carrier Global during the 2nd quarter valued at about $35,000. Finally, Family Firm Inc. purchased a new position in Carrier Global during the 2nd quarter valued at about $37,000. 91.00% of the stock is owned by hedge funds and other institutional investors.

Carrier Global Stock Up 0.3 %

CARR 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. The firm has a 50 day moving average price of $68.93 and a 200-day moving average price of $63.69. Carrier Global Co. has a twelve month low of $45.68 and a twelve month high of $79.75. The stock has a market capitalization of $70.45 billion, a price-to-earnings ratio of 54.68, a PEG ratio of 2.94 and a beta of 1.32.

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. The firm had revenue of $6.70 billion during the quarter, compared to analysts’ expectations of $7.05 billion. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.79 earnings per share. Equities research analysts forecast that Carrier Global Co. will post 2.84 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CARR. Robert W. Baird lowered their price target 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 raised shares of Carrier Global from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $65.00 to $74.00 in a report on Monday, June 24th. Wolfe Research raised shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Wells Fargo & Company lifted their target price on shares of Carrier Global from $66.00 to $73.00 and gave the stock an “equal weight” rating in a report on Friday, September 6th. Finally, Oppenheimer lifted their target price on shares of Carrier Global from $70.00 to $74.00 and gave the stock an “outperform” rating in a report on Friday, August 16th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Carrier Global presently has an average rating of “Moderate Buy” and an average target price of $71.73.

Insider Activity at Carrier Global

In related news, VP Ajay Agrawal sold 62,382 shares of the business’s stock in a transaction that occurred on 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 6.95% of the stock is currently owned by company insiders.

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.