Acadian Asset Management LLC Makes New $903,000 Investment in Carrier Global Co. (NYSE:CARR)

Acadian Asset Management LLC purchased a new position in shares of Carrier Global Co. (NYSE:CARR) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 14,332 shares of the company’s stock, valued at approximately $903,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Olistico Wealth LLC acquired a new stake in Carrier Global during the 2nd quarter worth about $25,000. EdgeRock Capital LLC acquired a new stake in Carrier Global during the 2nd quarter worth about $32,000. United Community Bank acquired a new stake in Carrier Global during the 4th quarter worth about $34,000. Register Financial Advisors LLC acquired a new stake in Carrier Global during the 1st quarter worth about $34,000. Finally, Rise Advisors LLC lifted its position in Carrier Global by 3,668.8% during the 1st quarter. Rise Advisors LLC now owns 603 shares of the company’s stock worth $35,000 after acquiring an additional 587 shares during the period. Institutional investors and hedge funds own 91.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Morgan Stanley assumed coverage on Carrier Global in a research note on Friday, September 6th. They set an “equal weight” rating and a $75.00 price objective for the company. Wells Fargo & Company lifted their price objective on Carrier Global from $66.00 to $73.00 and gave the company an “equal weight” rating in a research note on Friday, September 6th. Oppenheimer lifted their price objective on Carrier Global from $70.00 to $74.00 and gave the company an “outperform” rating in a research note on Friday, August 16th. Baird R W upgraded Carrier Global from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 15th. Finally, Barclays lifted their price objective on Carrier Global from $79.00 to $81.00 and gave the company an “overweight” rating in a research note on Friday, June 14th. One analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Carrier Global currently has a consensus rating of “Moderate Buy” and an average price target of $71.73.

Carrier Global Price Performance

Shares of Carrier Global stock opened at $77.11 on Tuesday. 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 twelve month low of $45.68 and a twelve month high of $77.48. The business has a 50-day moving average price of $68.32 and a 200 day moving average price of $63.43. The firm has a market cap of $69.48 billion, a PE ratio of 53.92, a P/E/G ratio of 2.94 and a beta of 1.32.

Carrier Global (NYSE:CARR) last released its earnings results on Thursday, July 25th. The company reported $0.87 earnings per share 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 business had revenue of $6.70 billion for the quarter, compared to the consensus estimate of $7.05 billion. During the same quarter last year, the business posted $0.79 earnings per share. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. Sell-side analysts predict that Carrier Global Co. will post 2.84 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, VP Ajay Agrawal sold 62,382 shares of the firm’s stock in a transaction dated 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 transaction, the vice president now directly owns 103,066 shares of the company’s stock, valued at $6,652,910.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 6.95% of the stock is currently owned by corporate insiders.

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.