Ballentine Partners LLC Buys 1,157 Shares of Carrier Global Co. (NYSE:CARR)

Ballentine Partners LLC raised its stake in shares of Carrier Global Co. (NYSE:CARR) by 8.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 14,681 shares of the company’s stock after purchasing an additional 1,157 shares during the quarter. Ballentine Partners LLC’s holdings in Carrier Global were worth $926,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in CARR. Caprock Group LLC increased its stake in Carrier Global by 8.0% during the second quarter. Caprock Group LLC now owns 23,715 shares of the company’s stock valued at $1,500,000 after acquiring an additional 1,762 shares during the period. Acadian Asset Management LLC bought a new stake in shares of Carrier Global during the second quarter valued at approximately $903,000. Chris Bulman Inc acquired a new position in shares of Carrier Global in the second quarter valued at $41,000. Advisor OS LLC lifted its position in Carrier Global by 2.7% in the second quarter. Advisor OS LLC now owns 9,524 shares of the company’s stock worth $601,000 after purchasing an additional 252 shares during the period. Finally, Savant Capital LLC boosted its stake in Carrier Global by 0.5% during the second quarter. Savant Capital LLC now owns 32,408 shares of the company’s stock worth $2,044,000 after buying an additional 162 shares in the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Stock Up 1.8 %

Shares of NYSE:CARR opened at $70.73 on Tuesday. The company has a quick ratio of 0.80, a current ratio of 1.08 and a debt-to-equity ratio of 0.80. The firm has a market cap of $63.85 billion, a P/E ratio of 49.46, a P/E/G ratio of 2.77 and a beta of 1.32. Carrier Global Co. has a 12 month low of $45.68 and a 12 month high of $73.06. The company’s 50-day moving average price is $67.16 and its two-hundred day moving average price is $62.72.

Carrier Global (NYSE:CARR) last released its quarterly 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. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. The business had revenue of $6.70 billion for the quarter, compared to analysts’ expectations of $7.05 billion. During the same period in the prior year, the firm earned $0.79 earnings per share. Carrier Global’s revenue was up 11.7% compared to the same quarter last year. As a group, research analysts forecast that Carrier Global Co. will post 2.84 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CARR. Oppenheimer raised their price objective 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. Barclays raised their price target on shares of Carrier Global from $79.00 to $81.00 and gave the stock an “overweight” rating in a research note on Friday, June 14th. Wells Fargo & Company upped their price objective on Carrier Global from $66.00 to $73.00 and gave the company an “equal weight” rating in a research note on Friday. Morgan Stanley assumed 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. Finally, Robert W. Baird lowered their price target on Carrier Global from $75.00 to $74.00 and set an “outperform” rating on the stock in a research report on Friday, July 26th. 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 stock. According to data from MarketBeat, the company 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 the company’s 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 of the company’s stock, valued at $6,652,910.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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.