Axxcess Wealth Management LLC Has $885,000 Stock Position in Carrier Global Co. (NYSE:CARR)

Axxcess Wealth Management LLC lessened its holdings in Carrier Global Co. (NYSE:CARR) by 4.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,034 shares of the company’s stock after selling 583 shares during the period. Axxcess Wealth Management LLC’s holdings in Carrier Global were worth $885,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in CARR. JPMorgan Chase & Co. increased its stake in Carrier Global by 280.1% in the 1st 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 last quarter. Capital International Investors grew its holdings in shares of Carrier Global by 4.6% in the first quarter. Capital International Investors now owns 84,827,130 shares of the company’s stock valued at $4,931,001,000 after acquiring an additional 3,763,666 shares in the last quarter. PineStone Asset Management Inc. increased its position in shares of Carrier Global by 139.7% during the second quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company’s stock valued at $404,903,000 after acquiring an additional 3,741,206 shares during the last quarter. Capital Research Global Investors boosted its holdings in shares of Carrier Global by 3.3% in the 4th quarter. Capital Research Global Investors now owns 92,829,907 shares of the company’s stock worth $5,333,084,000 after buying an additional 2,961,923 shares during the last quarter. Finally, Bristol Gate Capital Partners Inc. bought a new position in Carrier Global during the fourth quarter valued at about $92,651,000. Institutional investors own 91.00% of the company’s stock.

Carrier Global Trading Up 3.0 %

Shares of Carrier Global stock opened at $80.57 on Friday. The company has a 50 day simple moving average of $69.21 and a two-hundred day simple moving average of $63.81. The firm has a market cap of $72.59 billion, a PE ratio of 56.34, a PEG ratio of 2.94 and a beta of 1.32. Carrier Global Co. has a 1 year low of $45.68 and a 1 year high of $81.24. 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 (NYSE:CARR) last announced its earnings results on Thursday, July 25th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.02. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. The company had revenue of $6.70 billion during the quarter, compared to analyst estimates of $7.05 billion. During the same period in the previous year, the business earned $0.79 earnings per share. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. Analysts expect that Carrier Global Co. will post 2.84 earnings per share for the current fiscal year.

Insider Activity

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the vice president now owns 103,066 shares of the company’s stock, valued at $6,652,910.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 6.95% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on CARR shares. Royal Bank of Canada boosted their target price on Carrier Global from $72.00 to $79.00 and gave the company an “outperform” rating in a research note on Thursday, September 5th. Baird R W upgraded Carrier Global from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 15th. Bank of America increased their price objective on Carrier Global from $72.00 to $80.00 and gave the stock a “neutral” rating in a report on Friday, September 13th. Robert W. Baird reduced their target price on Carrier Global from $75.00 to $74.00 and set an “outperform” rating for the company in a report on Friday, July 26th. Finally, Barclays increased their price target on shares of Carrier Global from $79.00 to $81.00 and gave the stock an “overweight” rating in a report on Friday, June 14th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $71.73.

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.