Skandinaviska Enskilda Banken AB publ Boosts Stock Position in Carrier Global Co. (NYSE:CARR)

Skandinaviska Enskilda Banken AB publ grew its holdings in Carrier Global Co. (NYSE:CARR) by 0.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 619,433 shares of the company’s stock after buying an additional 1,700 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned 0.07% of Carrier Global worth $39,074,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. increased its position 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 buying an additional 466,829 shares in the last quarter. Capital Research Global Investors increased its position in shares of 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 purchasing an additional 2,961,923 shares in the last quarter. Capital International Investors increased its position in shares of 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 purchasing an additional 3,763,666 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of 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 purchasing an additional 17,021,768 shares in the last quarter. Finally, Fisher Asset Management LLC increased its position in shares of 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 purchasing an additional 310,453 shares in the last quarter. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CARR has been the subject of several research reports. Wolfe Research upgraded Carrier Global from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Bank of America boosted their price objective on Carrier Global from $72.00 to $80.00 and gave the stock a “neutral” rating in a research note on Friday, September 13th. Baird R W raised Carrier Global from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 15th. Royal Bank of Canada boosted their price objective on Carrier Global from $72.00 to $79.00 and gave the stock an “outperform” rating in a research note on Thursday, September 5th. Finally, Citigroup raised Carrier Global from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $65.00 to $74.00 in a research note on Monday, June 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.73.

Insider Activity 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 transaction, the vice president now owns 103,066 shares of the company’s stock, valued at $6,652,910.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 6.95% of the company’s stock.

Carrier Global Trading Up 3.0 %

Shares of CARR opened at $80.57 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.80 and a debt-to-equity ratio of 0.80. The firm’s 50-day moving average is $69.21 and its two-hundred day moving average is $63.81. Carrier Global Co. has a twelve month low of $45.68 and a twelve month high of $81.24. The firm has a market capitalization of $72.59 billion, a P/E ratio of 56.34, a PEG ratio of 2.94 and a beta of 1.32.

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