Holderness Investments Co. Sells 250 Shares of Carrier Global Co. (NYSE:CARR)

Holderness Investments Co. trimmed its holdings in shares of Carrier Global Co. (NYSE:CARR) by 0.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,302 shares of the company’s stock after selling 250 shares during the period. Holderness Investments Co.’s holdings in Carrier Global were worth $1,848,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CARR. Nordea Investment Management AB raised its position in shares of Carrier Global by 5.5% in the 1st quarter. Nordea Investment Management AB now owns 822,954 shares of the company’s stock valued at $47,633,000 after acquiring an additional 43,002 shares during the period. Nomura Holdings Inc. acquired a new stake in Carrier Global in the fourth quarter worth $973,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of Carrier Global by 50.1% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 390,272 shares of the company’s stock worth $22,687,000 after purchasing an additional 130,192 shares in the last quarter. GLOBALT Investments LLC GA acquired a new position in shares of Carrier Global in the 4th quarter valued at $859,000. Finally, United Services Automobile Association raised its stake in Carrier Global by 9.2% during the 4th quarter. United Services Automobile Association now owns 26,758 shares of the company’s stock worth $1,537,000 after buying an additional 2,244 shares during the period. 91.00% of the stock is owned by institutional investors.

Carrier Global Price Performance

Shares of NYSE CARR 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 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 current ratio of 1.08 and a quick ratio of 0.80. The business has a 50-day moving average of $69.49 and a 200-day moving average of $64.02.

Carrier Global (NYSE:CARR) last posted its quarterly 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 for the quarter, compared to analyst estimates of $7.05 billion. Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. The business’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.79 EPS. As a group, sell-side analysts predict that Carrier Global Co. will post 2.84 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on CARR shares. Royal Bank of Canada increased their price target on Carrier Global from $72.00 to $79.00 and gave the stock an “outperform” rating in a report on Thursday, September 5th. Wolfe Research raised shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Robert W. Baird cut their price objective on shares of Carrier Global from $75.00 to $74.00 and set an “outperform” rating on the stock in a research report on Friday, July 26th. Oppenheimer increased their target price on Carrier Global from $70.00 to $74.00 and gave the stock an “outperform” rating in a report on Friday, August 16th. Finally, Bank of America boosted their price target on Carrier Global from $72.00 to $80.00 and gave the company a “neutral” rating in a report on Friday, September 13th. 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 issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $71.73.

Insiders Place Their Bets

In other news, VP Ajay Agrawal sold 62,382 shares of the business’s stock in a transaction dated 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 directly owns 103,066 shares in the company, valued at approximately $6,652,910.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.