Ieq Capital LLC Acquires 2,981 Shares of Carrier Global Co. (NYSE:CARR)

Ieq Capital LLC grew its holdings in Carrier Global Co. (NYSE:CARR) by 7.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 45,872 shares of the company’s stock after purchasing an additional 2,981 shares during the period. Ieq Capital LLC’s holdings in Carrier Global were worth $2,894,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Savant Capital LLC grew its stake in Carrier Global by 0.5% in the second quarter. Savant Capital LLC now owns 32,408 shares of the company’s stock valued at $2,044,000 after purchasing an additional 162 shares in the last quarter. Founders Capital Management LLC increased its holdings in Carrier Global by 3.4% during the second quarter. Founders Capital Management LLC now owns 5,250 shares of the company’s stock worth $331,000 after buying an additional 175 shares during the last quarter. Manchester Capital Management LLC lifted its stake in Carrier Global by 4.3% in the first quarter. Manchester Capital Management LLC now owns 4,385 shares of the company’s stock valued at $255,000 after acquiring an additional 180 shares during the last quarter. Sunbelt Securities Inc. grew its position in shares of Carrier Global by 2.3% in the 1st quarter. Sunbelt Securities Inc. now owns 8,033 shares of the company’s stock valued at $467,000 after acquiring an additional 182 shares during the period. Finally, Checchi Capital Advisers LLC grew its position 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 valued at $517,000 after acquiring an additional 197 shares during the period. Institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Performance

NYSE CARR opened at $79.92 on Friday. The firm’s 50 day simple moving average is $69.49 and its 200 day simple moving average is $64.02. The firm has a market capitalization of $72.01 billion, a price-to-earnings ratio of 55.89, a P/E/G ratio of 2.94 and a beta of 1.32. The company has a current ratio of 1.08, a quick ratio of 0.80 and a debt-to-equity ratio of 0.80. Carrier Global Co. has a 1 year low of $45.68 and a 1 year high of $81.24.

Carrier Global (NYSE:CARR) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.87 earnings per share (EPS) 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 company had revenue of $6.70 billion for the quarter, compared to analyst estimates of $7.05 billion. During the same quarter last year, the company posted $0.79 EPS. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. As a group, research analysts expect 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 that occurred 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 sale, the vice president now directly owns 103,066 shares in the company, valued at approximately $6,652,910.30. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 6.95% of the company’s stock.

Wall Street Analysts Forecast Growth

CARR has been the subject of several recent analyst reports. Robert W. Baird cut their target price on shares of Carrier Global from $75.00 to $74.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. Wells Fargo & Company lifted their target price on Carrier Global from $66.00 to $73.00 and gave the stock an “equal weight” rating in a research note on Friday, September 6th. Bank of America increased their price target on Carrier Global from $72.00 to $80.00 and gave the company a “neutral” rating in a research note on Friday, September 13th. Wolfe Research raised shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Finally, Citigroup upgraded Carrier Global from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $65.00 to $74.00 in a report on Monday, June 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Carrier Global has a consensus rating of “Moderate Buy” and a consensus target price of $71.73.

Carrier Global Company 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.