Sagefield Capital LP Increases Position in Carrier Global Co. (NYSE:CARR)

Sagefield Capital LP lifted its position in Carrier Global Co. (NYSE:CARR) by 1.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 138,739 shares of the company’s stock after purchasing an additional 1,753 shares during the period. Carrier Global comprises 0.9% of Sagefield Capital LP’s portfolio, making the stock its 29th largest holding. Sagefield Capital LP’s holdings in Carrier Global were worth $8,752,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CARR. JPMorgan Chase & Co. increased its stake in shares of Carrier Global by 280.1% in 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. Capital International Investors increased its stake in shares of Carrier Global by 4.6% in 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. PineStone Asset Management Inc. increased its stake in shares of Carrier Global by 139.7% in the second quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company’s stock worth $404,903,000 after purchasing an additional 3,741,206 shares in the last quarter. Capital Research Global Investors increased its stake in shares of Carrier Global by 3.3% in 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. Finally, Bristol Gate Capital Partners Inc. purchased a new stake in shares of Carrier Global in the fourth quarter worth $92,651,000. 91.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on CARR shares. Bank of America raised their target price on shares of Carrier Global from $72.00 to $80.00 and gave the company a “neutral” rating in a research note on Friday, September 13th. Baird R W raised shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 15th. Robert W. Baird cut their target price on shares of Carrier Global from $75.00 to $74.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. Morgan Stanley started coverage on shares of Carrier Global in a research note on Friday, September 6th. They set an “equal weight” rating and a $75.00 target price for the company. Finally, Citigroup raised shares of Carrier Global from a “neutral” rating to a “buy” rating and raised their target price for the company from $65.00 to $74.00 in a research note on Monday, June 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $71.73.

Carrier Global Price Performance

CARR stock opened at $80.87 on Tuesday. Carrier Global Co. has a 12 month low of $45.68 and a 12 month high of $81.24. 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 company has a 50-day moving average price of $69.76 and a 200 day moving average price of $64.21. The stock has a market cap of $72.86 billion, a PE ratio of 56.55, a P/E/G 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, topping analysts’ consensus estimates of $0.85 by $0.02. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. The firm had revenue of $6.70 billion during the quarter, compared to analysts’ expectations of $7.05 billion. During the same period in the previous year, the company earned $0.79 EPS. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. Equities research analysts anticipate that Carrier Global Co. will post 2.84 earnings per share for the current year.

Insider Buying and Selling

In related news, VP Ajay Agrawal sold 62,382 shares of Carrier Global 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 completion of the transaction, the vice president now directly owns 103,066 shares of the company’s stock, valued at approximately $6,652,910.30. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 6.95% of the stock is owned by corporate insiders.

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.