Country Trust Bank Makes New $40,000 Investment in Carrier Global Co. (NYSE:CARR)

Country Trust Bank acquired a new position in shares of Carrier Global Co. (NYSE:CARR) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 500 shares of the company’s stock, valued at approximately $40,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of CARR. Elo Mutual Pension Insurance Co grew its position in Carrier Global by 4.7% during the 4th quarter. Elo Mutual Pension Insurance Co now owns 73,130 shares of the company’s stock worth $4,201,000 after purchasing an additional 3,257 shares during the last quarter. Cullen Capital Management LLC grew its position in Carrier Global by 4.6% during the 4th quarter. Cullen Capital Management LLC now owns 5,845 shares of the company’s stock worth $336,000 after purchasing an additional 257 shares during the last quarter. LM Advisors LLC purchased a new stake in shares of Carrier Global in the fourth quarter valued at about $279,000. Barden Capital Management Inc. boosted its holdings in shares of Carrier Global by 14.8% in the fourth quarter. Barden Capital Management Inc. now owns 36,876 shares of the company’s stock valued at $2,038,000 after acquiring an additional 4,752 shares in the last quarter. Finally, Firsthand Capital Management Inc. purchased a new stake in shares of Carrier Global in the fourth quarter valued at about $57,000. 91.00% of the stock is owned by hedge funds and other institutional investors.

Carrier Global Stock Performance

Shares of CARR opened at $80.84 on Wednesday. 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 stock has a market cap of $72.84 billion, a P/E ratio of 56.53, a PEG ratio of 3.23 and a beta of 1.32. The company has a 50-day moving average of $72.36 and a two-hundred day moving average of $65.78. Carrier Global Co. has a 12-month low of $45.68 and a 12-month high of $81.64.

Carrier Global (NYSE:CARR) last announced its earnings results on Thursday, July 25th. The company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. The company had revenue of $6.70 billion during the quarter, compared to analysts’ expectations of $7.05 billion. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.79 earnings per share. As a group, research analysts predict that Carrier Global Co. will post 2.84 EPS for the current fiscal year.

Analysts Set New Price Targets

CARR has been the topic of several analyst reports. Oppenheimer lifted their target price on shares of Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Baird R W raised shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a report on Monday, July 15th. Royal Bank of Canada lifted their target price on shares of Carrier Global from $72.00 to $79.00 and gave the company an “outperform” rating in a report on Thursday, September 5th. Robert W. Baird lowered their target price on shares of Carrier Global from $75.00 to $74.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. Finally, Morgan Stanley initiated coverage on shares of Carrier Global in a report on Friday, September 6th. They set an “equal weight” rating and a $75.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Carrier Global has an average rating of “Moderate Buy” and a consensus target price of $76.80.

Insiders Place Their Bets

In other news, VP Ajay Agrawal sold 62,382 shares of the business’s stock in a transaction that occurred 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 transaction, the vice president now owns 103,066 shares of the company’s stock, valued at $6,652,910.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 6.95% of the stock is currently owned by company 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.