Vanguard Personalized Indexing Management LLC Acquires 8,475 Shares of Carrier Global Co. (NYSE:CARR)

Vanguard Personalized Indexing Management LLC boosted its holdings in Carrier Global Co. (NYSE:CARR) by 10.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 86,604 shares of the company’s stock after purchasing an additional 8,475 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Carrier Global were worth $5,445,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Olistico Wealth LLC acquired a new position in shares of Carrier Global during the 2nd quarter worth approximately $25,000. Meeder Asset Management Inc. grew its stake in shares of Carrier Global by 675.0% in the second quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock valued at $29,000 after buying an additional 405 shares in the last quarter. EdgeRock Capital LLC acquired a new position in Carrier Global during the second quarter worth $32,000. United Community Bank bought a new stake in Carrier Global during the fourth quarter worth $34,000. Finally, Register Financial Advisors LLC acquired a new stake in Carrier Global in the first quarter valued at $34,000. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Carrier Global Stock Performance

CARR opened at $78.19 on Thursday. 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 company has a market capitalization of $70.45 billion, a PE ratio of 54.68, a price-to-earnings-growth ratio of 2.94 and a beta of 1.32. The business has a fifty day simple moving average of $68.93 and a 200 day simple moving average of $63.69. Carrier Global Co. has a 1 year low of $45.68 and a 1 year high of $79.75.

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

Insiders Place Their Bets

In other news, VP Ajay Agrawal sold 62,382 shares of Carrier Global stock in a transaction that occurred 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 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 can be accessed through this link. Company insiders own 6.95% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on CARR shares. Barclays boosted their price objective on shares of Carrier Global from $79.00 to $81.00 and gave the stock an “overweight” rating in a research note on Friday, June 14th. Bank of America boosted their price target on Carrier Global from $72.00 to $80.00 and gave the stock a “neutral” rating in a research report on Friday, September 13th. Morgan Stanley initiated coverage on Carrier Global in a research report on Friday, September 6th. They issued an “equal weight” rating and a $75.00 price objective for the company. Royal Bank of Canada boosted 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. Finally, Baird R W upgraded Carrier Global from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 15th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.