Summit Trail Advisors LLC Purchases 4,557 Shares of Carrier Global Co. (NYSE:CARR)

Summit Trail Advisors LLC increased its stake in shares of Carrier Global Co. (NYSE:CARR) by 26.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 21,847 shares of the company’s stock after buying an additional 4,557 shares during the period. Summit Trail Advisors LLC’s holdings in Carrier Global were worth $1,382,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of CARR. Olistico Wealth LLC acquired a new position in shares of Carrier Global in the 2nd quarter valued at approximately $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 in the last quarter. EdgeRock Capital LLC acquired a new position in Carrier Global during the 2nd quarter worth approximately $32,000. United Community Bank acquired a new position in Carrier Global during the 4th quarter worth approximately $34,000. Finally, Register Financial Advisors LLC acquired a new position in Carrier Global during the 1st quarter worth approximately $34,000. Institutional investors own 91.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CARR shares. Oppenheimer boosted their target price 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. Bank of America upped their price objective on shares of Carrier Global from $72.00 to $80.00 and gave the company a “neutral” rating in a research note on Friday, September 13th. Citigroup raised shares of Carrier Global from a “neutral” rating to a “buy” rating and upped their price objective for the company from $65.00 to $74.00 in a research note on Monday, June 24th. Royal Bank of Canada upped their price objective on shares of Carrier Global from $72.00 to $79.00 and gave the company an “outperform” rating in a research note on Thursday, September 5th. Finally, Baird R W raised shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Carrier Global currently has a consensus rating of “Moderate Buy” and an average price target of $71.73.

Carrier Global Stock Performance

CARR opened at $79.92 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.80 and a debt-to-equity ratio of 0.80. The company’s fifty day moving average price is $69.49 and its two-hundred day moving average price is $64.02. Carrier Global Co. has a 1-year low of $45.68 and a 1-year high of $81.24. The company has a market cap of $72.01 billion, a price-to-earnings ratio of 55.89, a PEG ratio of 2.94 and a beta of 1.32.

Carrier Global (NYSE:CARR) last announced its earnings results on Thursday, July 25th. The company reported $0.87 EPS for the quarter, beating 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 firm’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.79 earnings per share. On average, analysts expect that Carrier Global Co. will post 2.84 EPS for the current fiscal year.

Insider Buying and Selling

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $64.55, for a total transaction of $4,026,758.10. Following the completion of the transaction, the vice president now owns 103,066 shares in the company, valued at $6,652,910.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 6.95% of the stock is currently owned by corporate insiders.

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.