Caprock Group LLC Raises Stock Holdings in Carrier Global Co. (NYSE:CARR)

Caprock Group LLC lifted its holdings in Carrier Global Co. (NYSE:CARR) by 8.0% in the second quarter, HoldingsChannel reports. The firm owned 23,715 shares of the company’s stock after purchasing an additional 1,762 shares during the quarter. Caprock Group LLC’s holdings in Carrier Global were worth $1,500,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CARR. Nordea Investment Management AB increased its holdings in shares of Carrier Global by 5.5% in the 1st quarter. Nordea Investment Management AB now owns 822,954 shares of the company’s stock worth $47,633,000 after buying an additional 43,002 shares during the last quarter. Nomura Holdings Inc. purchased a new stake in Carrier Global during the fourth quarter valued at approximately $973,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in Carrier Global by 50.1% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 390,272 shares of the company’s stock valued at $22,687,000 after purchasing an additional 130,192 shares during the period. GLOBALT Investments LLC GA bought a new stake in shares of Carrier Global in the 4th quarter valued at approximately $859,000. Finally, United Services Automobile Association boosted its holdings in shares of Carrier Global by 9.2% in the 4th quarter. United Services Automobile Association now owns 26,758 shares of the company’s stock worth $1,537,000 after purchasing an additional 2,244 shares during the period. Institutional investors own 91.00% of the company’s stock.

Carrier Global Trading Up 1.8 %

Shares of NYSE:CARR opened at $70.73 on Tuesday. The firm has a market capitalization of $63.85 billion, a price-to-earnings ratio of 49.46, a price-to-earnings-growth ratio of 2.77 and a beta of 1.32. The business’s 50 day moving average price is $67.16 and its 200-day moving average price is $62.72. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.08 and a quick ratio of 0.80. Carrier Global Co. has a 1 year low of $45.68 and a 1 year high of $73.06.

Carrier Global (NYSE:CARR) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.87 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $7.05 billion. During the same period in the previous year, the business earned $0.79 EPS. Carrier Global’s quarterly revenue was up 11.7% on a year-over-year basis. On average, equities research analysts forecast that Carrier Global Co. will post 2.84 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Wells Fargo & Company raised their price target on Carrier Global from $66.00 to $73.00 and gave the stock an “equal weight” rating in a research report on Friday. Bank of America raised shares of Carrier Global from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $55.00 to $72.00 in a research report on Monday, July 29th. Robert W. Baird dropped their target price on Carrier Global from $75.00 to $74.00 and set an “outperform” rating for the company in a research report on Friday, July 26th. Oppenheimer raised their price target on Carrier Global from $70.00 to $74.00 and gave the stock an “outperform” rating in a research note on Friday, August 16th. Finally, Morgan Stanley started coverage on Carrier Global in a research report on Friday. They set an “equal weight” rating and a $75.00 target price for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $70.17.

Insider Activity

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

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.