Kentucky Retirement Systems Has $3.98 Million Position in Carrier Global Co. (NYSE:CARR)

Kentucky Retirement Systems reduced its stake in Carrier Global Co. (NYSE:CARR) by 0.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 63,144 shares of the company’s stock after selling 305 shares during the period. Kentucky Retirement Systems’ holdings in Carrier Global were worth $3,983,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Carrier Global by 0.5% in the first quarter. Vanguard Group Inc. now owns 94,289,980 shares of the company’s stock valued at $5,481,077,000 after acquiring an additional 466,829 shares in the last quarter. Capital Research Global Investors grew its stake in Carrier Global by 3.3% during the fourth quarter. Capital Research Global Investors now owns 92,829,907 shares of the company’s stock worth $5,333,084,000 after buying an additional 2,961,923 shares in the last quarter. Capital International Investors grew its stake in Carrier Global by 4.6% during the first quarter. Capital International Investors now owns 84,827,130 shares of the company’s stock worth $4,931,001,000 after buying an additional 3,763,666 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Carrier Global by 280.1% during the first quarter. JPMorgan Chase & Co. now owns 23,098,687 shares of the company’s stock worth $1,342,727,000 after buying an additional 17,021,768 shares in the last quarter. Finally, Fisher Asset Management LLC grew its stake in Carrier Global by 2.4% during the fourth quarter. Fisher Asset Management LLC now owns 13,307,231 shares of the company’s stock worth $764,500,000 after buying an additional 310,453 shares in the last quarter. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on CARR. Bank of America increased their price objective on shares of Carrier Global from $72.00 to $80.00 and gave the stock a “neutral” rating in a research note on Friday, September 13th. Royal Bank of Canada increased their price objective on shares of Carrier Global from $72.00 to $79.00 and gave the stock an “outperform” rating in a research note on Thursday, September 5th. Wells Fargo & Company increased their price objective on shares of Carrier Global from $66.00 to $73.00 and gave the stock an “equal weight” rating in a research note on Friday, September 6th. Wolfe Research upgraded shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Finally, Barclays increased their target price on shares of Carrier Global from $79.00 to $81.00 and gave the stock an “overweight” rating in a report on Friday, June 14th. 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 MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $71.73.

Insider Buying and Selling at Carrier Global

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

Carrier Global Stock Up 3.0 %

Shares of NYSE CARR opened at $80.57 on Friday. The company has a 50 day simple moving average of $69.21 and a 200 day simple moving average of $63.81. The firm has a market cap of $72.59 billion, a PE ratio of 56.34, a price-to-earnings-growth ratio of 2.94 and a beta of 1.32. Carrier Global Co. has a 1 year low of $45.68 and a 1 year high of $81.24. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.08 and a quick ratio of 0.80.

Carrier Global (NYSE:CARR) last released its earnings results on Thursday, July 25th. The company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. The business had revenue of $6.70 billion during the quarter, compared to the consensus estimate of $7.05 billion. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. The company’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 firm posted $0.79 EPS. On average, research analysts forecast that Carrier Global Co. will post 2.84 EPS for the current year.

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.