Frank Rimerman Advisors LLC Raises Position in Carrier Global Co. (NYSE:CARR)

Frank Rimerman Advisors LLC increased its position in shares of Carrier Global Co. (NYSE:CARR) by 54,708.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,702 shares of the company’s stock after purchasing an additional 13,677 shares during the period. Frank Rimerman Advisors LLC’s holdings in Carrier Global were worth $864,000 as of its most recent SEC filing.

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

Carrier Global Price Performance

CARR stock opened at $80.87 on Tuesday. The stock has a market capitalization of $72.86 billion, a price-to-earnings ratio of 56.55, a price-to-earnings-growth ratio of 2.94 and a beta of 1.32. The company has a quick ratio of 0.80, a current ratio of 1.08 and a debt-to-equity ratio of 0.80. Carrier Global Co. has a 52-week low of $45.68 and a 52-week high of $81.24. The stock’s fifty day simple moving average is $69.76 and its 200-day simple moving average is $64.21.

Carrier Global (NYSE:CARR) last posted 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. Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. 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 earned $0.79 EPS. The firm’s revenue was up 11.7% on a year-over-year basis. Equities research analysts expect that Carrier Global Co. will post 2.84 EPS for the current year.

Insider Activity at Carrier Global

In other news, VP Ajay Agrawal sold 62,382 shares of the stock in a transaction 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 owns 103,066 shares of the company’s stock, valued at $6,652,910.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 6.95% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on CARR shares. Citigroup raised Carrier Global from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $65.00 to $74.00 in a report on Monday, June 24th. Bank of America boosted their price objective on shares of Carrier Global from $72.00 to $80.00 and gave the stock a “neutral” rating in a research report on Friday, September 13th. Wells Fargo & Company raised their target price on shares of Carrier Global from $66.00 to $73.00 and gave the company an “equal weight” rating in a report on Friday, September 6th. Barclays upped their price target on shares of Carrier Global from $79.00 to $81.00 and gave the company an “overweight” rating in a report on Friday, June 14th. Finally, Wolfe Research raised shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $71.73.

Carrier Global 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.