Daiwa Securities Group Inc. Buys 8,592 Shares of Carrier Global Co. (NYSE:CARR)

Daiwa Securities Group Inc. grew its stake in Carrier Global Co. (NYSE:CARR) by 10.6% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 89,408 shares of the company’s stock after purchasing an additional 8,592 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Carrier Global were worth $5,640,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in Carrier Global by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 94,289,980 shares of the company’s stock valued at $5,481,077,000 after buying an additional 466,829 shares during the last quarter. Capital Research Global Investors increased its position in shares of Carrier Global by 3.3% during the fourth quarter. Capital Research Global Investors now owns 92,829,907 shares of the company’s stock valued at $5,333,084,000 after acquiring an additional 2,961,923 shares during the last quarter. Capital International Investors lifted its holdings in Carrier Global by 4.6% during the first quarter. Capital International Investors now owns 84,827,130 shares of the company’s stock worth $4,931,001,000 after acquiring an additional 3,763,666 shares during the period. JPMorgan Chase & Co. boosted its position in Carrier Global by 280.1% in the first quarter. JPMorgan Chase & Co. now owns 23,098,687 shares of the company’s stock worth $1,342,727,000 after purchasing an additional 17,021,768 shares during the last quarter. Finally, Fisher Asset Management LLC grew its stake in Carrier Global by 2.4% in the 4th quarter. Fisher Asset Management LLC now owns 13,307,231 shares of the company’s stock valued at $764,500,000 after purchasing an additional 310,453 shares during the period. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Robert W. Baird lowered their target price on Carrier Global from $75.00 to $74.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. Oppenheimer boosted their target price on shares of Carrier Global from $70.00 to $74.00 and gave the company an “outperform” rating in a research note on Friday, August 16th. Citigroup upgraded shares of Carrier Global from a “neutral” rating to a “buy” rating and raised their price target for the stock from $65.00 to $74.00 in a research note on Monday, June 24th. Morgan Stanley started coverage on Carrier Global in a research note on Friday, September 6th. They issued an “equal weight” rating and a $75.00 price objective on the stock. Finally, Wolfe Research raised Carrier Global from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. One research analyst has rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $70.17.

Carrier Global Stock Performance

Carrier Global stock opened at $73.67 on Thursday. Carrier Global Co. has a 1-year low of $45.68 and a 1-year high of $74.07. 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 firm has a market capitalization of $66.51 billion, a PE ratio of 51.52, a price-to-earnings-growth ratio of 2.77 and a beta of 1.32. The firm’s 50 day simple moving average is $67.54 and its 200 day simple moving average is $62.92.

Carrier Global (NYSE:CARR) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.02. The firm had revenue of $6.70 billion for the quarter, compared to analysts’ expectations of $7.05 billion. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. The business’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.79 earnings per share. As a group, analysts expect that Carrier Global Co. will post 2.84 earnings per share for the current fiscal year.

Insider Buying and Selling at Carrier Global

In related news, VP Ajay Agrawal sold 62,382 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $64.55, for a total value of $4,026,758.10. Following the transaction, the vice president now directly owns 103,066 shares in the company, valued at $6,652,910.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 6.95% of the company’s stock.

Carrier Global Company 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.