Massachusetts Financial Services Co. MA Decreases Holdings in Carrier Global Co. (NYSE:CARR)

Massachusetts Financial Services Co. MA trimmed its position in shares of Carrier Global Co. (NYSE:CARR) by 6.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,189,703 shares of the company’s stock after selling 88,300 shares during the period. Massachusetts Financial Services Co. MA owned about 0.13% of Carrier Global worth $75,046,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CARR. Olistico Wealth LLC purchased a new position in shares of Carrier Global during the 2nd quarter valued at about $25,000. Meeder Asset Management Inc. increased its stake in Carrier Global by 675.0% in the 2nd 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 period. EdgeRock Capital LLC purchased a new position in Carrier Global in the 2nd quarter worth approximately $32,000. United Community Bank purchased a new position in Carrier Global in the 4th quarter worth approximately $34,000. Finally, Register Financial Advisors LLC purchased a new position in Carrier Global in the 1st quarter worth approximately $34,000. 91.00% of the stock is owned by hedge funds and other institutional investors.

Carrier Global Stock Up 0.3 %

CARR stock opened at $78.19 on Thursday. Carrier Global Co. has a 1-year low of $45.68 and a 1-year high of $79.75. The business has a fifty day moving average price of $68.93 and a 200-day moving average price of $63.69. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.08 and a quick ratio of 0.80. The stock has a market capitalization of $70.45 billion, a P/E ratio of 54.68, a P/E/G ratio of 2.94 and a beta of 1.32.

Carrier Global (NYSE:CARR) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. The company had revenue of $6.70 billion during 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%. Carrier Global’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.79 earnings per share. Equities analysts forecast that Carrier Global Co. will post 2.84 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have commented on CARR. Wells Fargo & Company lifted their price target on Carrier Global from $66.00 to $73.00 and gave the stock an “equal weight” rating in a research note on Friday, September 6th. Morgan Stanley began coverage on Carrier Global in a research note on Friday, September 6th. They issued an “equal weight” rating and a $75.00 price target on the stock. Robert W. Baird decreased their price target 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. Bank of America boosted their target price on Carrier Global from $72.00 to $80.00 and gave the company a “neutral” rating in a research note on Friday, September 13th. Finally, Wolfe Research raised Carrier Global from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $71.73.

Insider Activity at Carrier Global

In related news, VP Ajay Agrawal sold 62,382 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was 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 in the company, valued at $6,652,910.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.95% of the stock is 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.