Prospector Partners LLC Purchases 1,880 Shares of Carrier Global Co. (NYSE:CARR)

Prospector Partners LLC raised its holdings in shares of Carrier Global Co. (NYSE:CARR) by 0.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 273,845 shares of the company’s stock after acquiring an additional 1,880 shares during the quarter. Carrier Global makes up approximately 1.9% of Prospector Partners LLC’s holdings, making the stock its 15th biggest position. Prospector Partners LLC’s holdings in Carrier Global were worth $17,274,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Olistico Wealth LLC acquired a new stake in Carrier Global in the 2nd quarter valued at $25,000. Meeder Asset Management Inc. grew its holdings in shares of 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 acquiring an additional 405 shares in the last quarter. EdgeRock Capital LLC acquired a new stake in shares of Carrier Global in the second quarter valued at about $32,000. Hantz Financial Services Inc. bought a new stake in Carrier Global during the second quarter worth about $35,000. Finally, Family Firm Inc. acquired a new position in Carrier Global during the second quarter valued at approximately $37,000. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Carrier Global Stock Performance

Shares of CARR stock opened at $79.92 on Friday. Carrier Global Co. has a 52 week low of $45.68 and a 52 week high of $81.24. The company has a market capitalization of $72.01 billion, a price-to-earnings ratio of 55.89, a PEG ratio of 2.94 and a beta of 1.32. The company has a 50-day simple moving average of $69.49 and a 200 day simple moving average of $64.02. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.80 and a current ratio of 1.08.

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Citigroup upgraded Carrier Global from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $65.00 to $74.00 in a research note on Monday, June 24th. Oppenheimer upped their price target on shares of Carrier Global from $70.00 to $74.00 and gave the stock an “outperform” rating in a research report on Friday, August 16th. Wells Fargo & Company lifted their price objective on shares of Carrier Global from $66.00 to $73.00 and gave the company an “equal weight” rating in a research report on Friday, September 6th. Wolfe Research raised shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Finally, Morgan Stanley began coverage on shares of Carrier Global in a research note on Friday, September 6th. They issued an “equal weight” rating and a $75.00 target price for the company. One analyst has rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $71.73.

Insider Activity at Carrier Global

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of the 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 transaction, the vice president now owns 103,066 shares in the company, valued at approximately $6,652,910.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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.