Connecticut Wealth Management LLC Buys 3,959 Shares of Carrier Global Co. (NYSE:CARR)

Connecticut Wealth Management LLC raised its stake in Carrier Global Co. (NYSE:CARR) by 3.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 114,392 shares of the company’s stock after acquiring an additional 3,959 shares during the quarter. Connecticut Wealth Management LLC’s holdings in Carrier Global were worth $7,216,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Olistico Wealth LLC bought a new position in shares of Carrier Global in the second quarter worth about $25,000. Meeder Asset Management Inc. raised its holdings in Carrier Global by 675.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock valued at $29,000 after buying an additional 405 shares during the last quarter. EdgeRock Capital LLC bought a new position in Carrier Global in the 2nd quarter valued at approximately $32,000. Hantz Financial Services Inc. bought a new position in Carrier Global in the 2nd quarter valued at approximately $35,000. Finally, Family Firm Inc. bought a new position in Carrier Global in the 2nd quarter valued at approximately $37,000. Institutional investors own 91.00% of the company’s stock.

Insider Activity at Carrier Global

In related news, VP Ajay Agrawal sold 62,382 shares of Carrier Global stock in a transaction 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 sale, the vice president now owns 103,066 shares of the company’s stock, valued at approximately $6,652,910.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 6.95% of the stock is currently owned by insiders.

Carrier Global Stock Performance

Shares of CARR stock opened at $79.93 on Friday. The company has a market cap of $72.02 billion, a price-to-earnings ratio of 55.90, a price-to-earnings-growth ratio of 2.94 and a beta of 1.32. Carrier Global Co. has a 52 week low of $45.68 and a 52 week high of $81.24. The company has a quick ratio of 0.80, a current ratio of 1.08 and a debt-to-equity ratio of 0.80. The firm has a 50 day moving average of $69.49 and a 200-day moving average of $63.96.

Carrier Global (NYSE:CARR) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.85 by $0.02. The company had revenue of $6.70 billion during the quarter, compared to the consensus estimate of $7.05 billion. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. The company’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.79 EPS. On average, equities analysts forecast that Carrier Global Co. will post 2.84 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently issued reports on CARR shares. Baird R W upgraded shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a report on Monday, July 15th. Royal Bank of Canada raised their price objective 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. Oppenheimer raised their price target on shares of Carrier Global from $70.00 to $74.00 and gave the stock an “outperform” rating in a report on Friday, August 16th. Morgan Stanley assumed coverage on shares of Carrier Global in a report on Friday, September 6th. They set an “equal weight” rating and a $75.00 price target for the company. Finally, Wolfe Research upgraded shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $71.73.

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.