Amalgamated Bank Sells 3,969 Shares of Carrier Global Co. (NYSE:CARR)

Amalgamated Bank decreased its stake in shares of Carrier Global Co. (NYSE:CARR) by 2.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 169,243 shares of the company’s stock after selling 3,969 shares during the period. Amalgamated Bank’s holdings in Carrier Global were worth $10,676,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Savant Capital LLC boosted its stake in shares of Carrier Global by 0.5% in the 2nd quarter. Savant Capital LLC now owns 32,408 shares of the company’s stock worth $2,044,000 after buying an additional 162 shares during the last quarter. Founders Capital Management LLC grew its stake in shares of Carrier Global by 3.4% during the 2nd quarter. Founders Capital Management LLC now owns 5,250 shares of the company’s stock valued at $331,000 after purchasing an additional 175 shares during the period. Manchester Capital Management LLC grew its stake in shares of Carrier Global by 4.3% during the 1st quarter. Manchester Capital Management LLC now owns 4,385 shares of the company’s stock valued at $255,000 after purchasing an additional 180 shares during the period. Sunbelt Securities Inc. increased its position in shares of Carrier Global by 2.3% during the 1st quarter. Sunbelt Securities Inc. now owns 8,033 shares of the company’s stock valued at $467,000 after purchasing an additional 182 shares during the last quarter. Finally, Checchi Capital Advisers LLC lifted its stake in shares of Carrier Global by 2.3% in the 1st quarter. Checchi Capital Advisers LLC now owns 8,900 shares of the company’s stock worth $517,000 after purchasing an additional 197 shares during the period. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on CARR. Citigroup raised shares of Carrier Global from a “neutral” rating to a “buy” rating and upped their target price for the company from $65.00 to $74.00 in a report on Monday, June 24th. Wolfe Research upgraded Carrier Global from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Morgan Stanley started coverage on Carrier Global in a research report on Friday, September 6th. They set an “equal weight” rating and a $75.00 target price on the stock. Wells Fargo & Company upped their price target on Carrier Global from $66.00 to $73.00 and gave the stock an “equal weight” rating in a research report on Friday, September 6th. Finally, Bank of America lifted their price objective on Carrier Global from $72.00 to $80.00 and gave the company a “neutral” rating in a research report on Friday, September 13th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $71.73.

Carrier Global Trading Up 0.3 %

CARR stock opened at $78.19 on Thursday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.08 and a quick ratio of 0.80. Carrier Global Co. has a 1-year low of $45.68 and a 1-year high of $79.75. The business has a 50 day simple moving average of $68.93 and a two-hundred day simple moving average of $63.69. The company has a market capitalization of $70.45 billion, a price-to-earnings ratio of 54.68, a PEG ratio of 2.94 and a beta of 1.32.

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

Insider Activity

In related news, VP Ajay Agrawal sold 62,382 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $64.55, for a total value of $4,026,758.10. Following the sale, the vice president now directly owns 103,066 shares in the company, valued at $6,652,910.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company 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.