Benjamin F. Edwards & Company Inc. Sells 469,891 Shares of Carrier Global Co. (NYSE:CARR)

Benjamin F. Edwards & Company Inc. reduced its holdings in Carrier Global Co. (NYSE:CARR) by 87.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 64,675 shares of the company’s stock after selling 469,891 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in Carrier Global were worth $4,080,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CARR. Vanguard Group Inc. grew its stake in shares of Carrier Global by 0.5% in the 1st 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 during the period. Capital Research Global Investors grew its stake in Carrier Global by 3.3% in the fourth quarter. Capital Research Global Investors now owns 92,829,907 shares of the company’s stock valued at $5,333,084,000 after acquiring an additional 2,961,923 shares during the period. Capital International Investors increased its holdings 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 valued at $4,931,001,000 after acquiring an additional 3,763,666 shares in the last quarter. JPMorgan Chase & Co. raised 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 during the period. Finally, Fisher Asset Management LLC lifted its holdings in shares of Carrier Global by 2.4% in the 4th 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 institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CARR shares. Wells Fargo & Company upped their price objective 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. Barclays raised their price target on shares of Carrier Global from $79.00 to $81.00 and gave the company an “overweight” rating in a research report on Friday, June 14th. Oppenheimer lifted their price target on Carrier Global from $70.00 to $74.00 and gave the company an “outperform” rating in a research note on Friday, August 16th. Citigroup raised Carrier Global from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $65.00 to $74.00 in a research note on Monday, June 24th. Finally, Bank of America lifted their target price on Carrier Global from $72.00 to $80.00 and gave the company a “neutral” rating in a research report on Friday, September 13th. 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $71.73.

Carrier Global Stock Down 0.8 %

CARR stock opened at $79.92 on Friday. Carrier Global Co. has a fifty-two week low of $45.68 and a fifty-two week high of $81.24. The stock has a fifty day moving average of $69.49 and a 200-day moving average of $64.02. The company has a market capitalization of $72.01 billion, a price-to-earnings ratio of 55.89, a PEG ratio of 2.94 and a beta of 1.32. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.80 and a current ratio of 1.08.

Carrier Global (NYSE:CARR) last posted its earnings results on Thursday, July 25th. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.02. The firm 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 was up 11.7% on a year-over-year basis. During the same quarter last year, the company earned $0.79 earnings per share. As a group, equities research analysts predict that Carrier Global Co. will post 2.84 earnings per share for the current year.

Insider Transactions at Carrier Global

In related news, VP Ajay Agrawal sold 62,382 shares of the stock in a transaction dated 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 sale, the vice president now owns 103,066 shares of the company’s stock, valued at approximately $6,652,910.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 6.95% of the company’s stock.

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.