Abacus Wealth Partners LLC Takes Position in Carrier Global Co. (NYSE:CARR)

Abacus Wealth Partners LLC acquired a new position in Carrier Global Co. (NYSE:CARR) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 3,420 shares of the company’s stock, valued at approximately $275,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CARR. Rafferty Asset Management LLC grew its position in Carrier Global by 5.6% during the 4th quarter. Rafferty Asset Management LLC now owns 70,371 shares of the company’s stock worth $4,043,000 after purchasing an additional 3,756 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of Carrier Global by 4.7% during the 4th quarter. First Trust Advisors LP now owns 1,338,920 shares of the company’s stock valued at $76,921,000 after acquiring an additional 60,196 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Carrier Global by 77.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 110,229 shares of the company’s stock valued at $6,333,000 after acquiring an additional 48,015 shares in the last quarter. Crossmark Global Holdings Inc. grew its holdings in shares of Carrier Global by 7.3% during the 4th quarter. Crossmark Global Holdings Inc. now owns 82,928 shares of the company’s stock valued at $4,764,000 after acquiring an additional 5,613 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado grew its holdings in shares of Carrier Global by 521.0% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 124,807 shares of the company’s stock valued at $7,170,000 after acquiring an additional 104,709 shares in the last quarter. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Bank of America boosted their price target on shares of Carrier Global from $72.00 to $80.00 and gave the company a “neutral” rating in a report on Friday, September 13th. Baird R W upgraded shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a report on Monday, July 15th. Barclays upped their price objective on shares of Carrier Global from $81.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday. Wells Fargo & Company upped their price objective on shares of Carrier Global from $66.00 to $73.00 and gave the stock an “equal weight” rating in a report on Friday, September 6th. Finally, Morgan Stanley assumed coverage on shares of Carrier Global in a report on Friday, September 6th. They issued an “equal weight” rating and a $75.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $73.82.

Carrier Global Stock Down 0.6 %

Shares of CARR opened at $80.04 on Friday. The company has a 50-day simple moving average of $71.82 and a 200-day simple moving average of $65.37. The firm has a market capitalization of $72.12 billion, a P/E ratio of 55.97, a P/E/G ratio of 3.23 and a beta of 1.32. 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 Co. has a 52 week low of $45.68 and a 52 week high of $81.64.

Carrier Global (NYSE:CARR) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. The business had revenue of $6.70 billion during 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 revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.79 earnings per share. On average, equities research analysts expect that Carrier Global Co. will post 2.84 earnings per share for the current year.

Insiders Place Their Bets

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of the firm’s 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 filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 6.95% of the company’s stock.

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.