XTX Topco Ltd Grows Stock Holdings in Carrier Global Co. (NYSE:CARR)

XTX Topco Ltd raised its stake in shares of Carrier Global Co. (NYSE:CARR) by 27.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 21,754 shares of the company’s stock after acquiring an additional 4,747 shares during the period. XTX Topco Ltd’s holdings in Carrier Global were worth $1,372,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Olistico Wealth LLC acquired a new position in shares of Carrier Global during the second quarter worth about $25,000. Meeder Asset Management Inc. increased its position in Carrier Global by 675.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock worth $29,000 after purchasing an additional 405 shares during the period. EdgeRock Capital LLC acquired a new position in Carrier Global during the 2nd quarter worth approximately $32,000. Hantz Financial Services Inc. purchased a new position in shares of Carrier Global during the 2nd quarter worth approximately $35,000. Finally, Family Firm Inc. acquired a new stake in shares of Carrier Global in the 2nd quarter valued at approximately $37,000. 91.00% of the stock is owned by institutional investors and hedge funds.

Carrier Global Stock Down 0.8 %

Shares of NYSE:CARR opened at $79.93 on Friday. 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 company has a market capitalization of $72.02 billion, a P/E ratio of 55.90, a P/E/G 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 stock’s fifty day simple moving average is $69.49 and its 200-day simple moving average is $63.96.

Carrier Global (NYSE:CARR) last released its earnings results on Thursday, July 25th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. The company had revenue of $6.70 billion for 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%. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.79 EPS. As a group, equities research analysts forecast 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 on Thursday, August 8th. The stock was sold at an average price of $64.55, for a total transaction of $4,026,758.10. Following the sale, the vice president now owns 103,066 shares in the company, valued at $6,652,910.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 6.95% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on CARR shares. Oppenheimer upped their price objective on Carrier Global from $70.00 to $74.00 and gave the stock an “outperform” rating in a report on Friday, August 16th. Barclays increased their price target on shares of Carrier Global from $79.00 to $81.00 and gave the company an “overweight” rating in a report on Friday, June 14th. Royal Bank of Canada boosted their price objective on shares of Carrier Global from $72.00 to $79.00 and gave the stock an “outperform” rating in a report on Thursday, September 5th. Robert W. Baird dropped their target price on shares of Carrier Global from $75.00 to $74.00 and set an “outperform” rating for the company in a report on Friday, July 26th. Finally, Citigroup raised Carrier Global from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $65.00 to $74.00 in a research note on Monday, June 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average 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.