Truist Financial Corp Increases Stock Position in Carrier Global Co. (NYSE:CARR)

Truist Financial Corp increased its position in shares of Carrier Global Co. (NYSE:CARR) by 1.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 135,742 shares of the company’s stock after purchasing an additional 2,432 shares during the quarter. Truist Financial Corp’s holdings in Carrier Global were worth $8,563,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. EP Wealth Advisors LLC boosted its holdings in shares of Carrier Global by 29.7% in the 2nd quarter. EP Wealth Advisors LLC now owns 14,589 shares of the company’s stock worth $920,000 after buying an additional 3,344 shares during the last quarter. Gateway Wealth Partners LLC purchased a new stake in Carrier Global in the 2nd quarter worth about $203,000. Northwestern Mutual Wealth Management Co. raised its stake in Carrier Global by 2.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 40,296 shares of the company’s stock valued at $2,542,000 after acquiring an additional 884 shares during the period. NewEdge Advisors LLC lifted its holdings in Carrier Global by 3.1% during the second quarter. NewEdge Advisors LLC now owns 35,001 shares of the company’s stock valued at $2,208,000 after purchasing an additional 1,058 shares during the last quarter. Finally, Creative Planning boosted its position in Carrier Global by 4.3% during the second quarter. Creative Planning now owns 453,571 shares of the company’s stock worth $28,611,000 after purchasing an additional 18,895 shares during the period. 91.00% of the stock is owned by institutional investors.

Analyst Ratings Changes

CARR has been the subject of several analyst reports. Royal Bank of Canada raised their target price on Carrier Global from $72.00 to $79.00 and gave the stock an “outperform” rating in a research note on Thursday, September 5th. Bank of America raised 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. Morgan Stanley initiated coverage on shares of Carrier Global in a report on Friday, September 6th. They issued an “equal weight” rating and a $75.00 price target on the stock. Oppenheimer upped their target price on shares of Carrier Global from $74.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, 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. One research 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. According to data from MarketBeat, Carrier Global has a consensus rating of “Moderate Buy” and a consensus price target of $73.82.

Carrier Global Trading Up 0.9 %

CARR opened at $80.80 on Friday. The business has a 50 day simple moving average of $72.10 and a two-hundred day simple moving average of $65.58. Carrier Global Co. has a one year low of $45.68 and a one year high of $81.64. 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 firm has a market capitalization of $72.80 billion, a price-to-earnings ratio of 56.50, a PEG ratio of 3.23 and a beta of 1.32.

Carrier Global (NYSE:CARR) last announced its quarterly earnings data 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 during 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 company’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.79 earnings per share. Analysts predict that Carrier Global Co. will post 2.84 EPS for the current year.

Insider Transactions at Carrier Global

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of Carrier Global stock in a transaction on 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 completion of the transaction, the vice president now owns 103,066 shares in the company, valued at approximately $6,652,910.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.