Carrier Global Co. (NYSE:CARR) Stake Boosted by GAMMA Investing LLC

GAMMA Investing LLC grew its position in Carrier Global Co. (NYSE:CARR) by 28.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,456 shares of the company’s stock after buying an additional 3,244 shares during the quarter. GAMMA Investing LLC’s holdings in Carrier Global were worth $1,164,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. JPMorgan Chase & Co. raised its position in Carrier Global by 280.1% during the first quarter. JPMorgan Chase & Co. now owns 23,098,687 shares of the company’s stock valued at $1,342,727,000 after buying an additional 17,021,768 shares during the period. Capital International Investors increased its holdings in shares of Carrier Global by 4.6% in the 1st quarter. Capital International Investors now owns 84,827,130 shares of the company’s stock valued at $4,931,001,000 after purchasing an additional 3,763,666 shares during the period. PineStone Asset Management Inc. lifted its position 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. Point72 Asset Management L.P. acquired a new stake in shares of Carrier Global during the second quarter worth approximately $58,415,000. Finally, Los Angeles Capital Management LLC grew its position in Carrier Global by 62.3% during the first quarter. Los Angeles Capital Management LLC now owns 1,586,408 shares of the company’s stock valued at $92,218,000 after purchasing an additional 609,071 shares in the last quarter. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, VP Ajay Agrawal sold 62,382 shares of the business’s stock in a transaction on 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 owns 103,066 shares of the company’s stock, 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 legal filing with the SEC, which is available through this hyperlink. 6.95% of the stock is owned by company insiders.

Carrier Global Stock Performance

NYSE:CARR opened at $80.41 on Tuesday. The firm has a market capitalization of $72.45 billion, a PE ratio of 56.23, a PEG ratio of 3.23 and a beta of 1.32. The company has a current ratio of 1.08, a quick ratio of 0.80 and a debt-to-equity ratio of 0.80. Carrier Global Co. has a 1 year low of $45.68 and a 1 year high of $81.64. The firm’s fifty day simple moving average is $72.10 and its 200 day simple moving average is $65.63.

Carrier Global (NYSE:CARR) last posted its quarterly earnings data 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 business had revenue of $6.70 billion during the quarter, compared to analysts’ expectations of $7.05 billion. Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. The firm’s revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.79 EPS. On average, sell-side analysts anticipate that Carrier Global Co. will post 2.84 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CARR shares. Oppenheimer increased 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, October 2nd. Morgan Stanley started coverage on Carrier Global in a research note on Friday, September 6th. They issued an “equal weight” rating and a $75.00 target price on the stock. Citigroup raised Carrier Global from a “neutral” rating to a “buy” rating and raised their price target for the stock from $65.00 to $74.00 in a research note on Monday, June 24th. Wolfe Research raised Carrier Global from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Finally, Wells Fargo & Company raised their price objective on shares of Carrier Global from $73.00 to $82.00 and gave the company an “equal weight” rating in a research report on Monday. Four analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $76.80.

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.