Forsta AP Fonden Sells 21,400 Shares of Carrier Global Co. (NYSE:CARR)

Forsta AP Fonden reduced its stake in Carrier Global Co. (NYSE:CARR) by 12.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 155,200 shares of the company’s stock after selling 21,400 shares during the period. Forsta AP Fonden’s holdings in Carrier Global were worth $9,790,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of CARR. Qsemble Capital Management LP bought a new stake in shares of Carrier Global in the 2nd quarter worth about $999,000. American Century Companies Inc. boosted its position in Carrier Global by 57.7% in the second quarter. American Century Companies Inc. now owns 94,266 shares of the company’s stock valued at $5,946,000 after buying an additional 34,487 shares in the last quarter. Bahl & Gaynor Inc. grew its stake in Carrier Global by 0.3% during the second quarter. Bahl & Gaynor Inc. now owns 103,628 shares of the company’s stock worth $6,537,000 after buying an additional 265 shares during the last quarter. Hazlett Burt & Watson Inc. increased its holdings in shares of Carrier Global by 74.3% during the second quarter. Hazlett Burt & Watson Inc. now owns 3,958 shares of the company’s stock worth $249,000 after buying an additional 1,687 shares in the last quarter. Finally, HHM Wealth Advisors LLC bought a new position in shares of Carrier Global in the second quarter valued at approximately $141,000. 91.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CARR. Baird R W raised Carrier Global from a “hold” rating to a “strong-buy” rating in a report on Monday, July 15th. Oppenheimer raised their target price on Carrier Global from $70.00 to $74.00 and gave the company an “outperform” rating in a research note on Friday, August 16th. Morgan Stanley began coverage on Carrier Global in a report on Friday, September 6th. They issued an “equal weight” rating and a $75.00 price target for the company. Wells Fargo & Company raised 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. Finally, Citigroup raised shares of Carrier Global from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $65.00 to $74.00 in a research note on Monday, June 24th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $70.83.

Insider Buying and Selling at Carrier Global

In other news, VP Ajay Agrawal sold 62,382 shares of the business’s stock in a transaction dated 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 completion of the transaction, the vice president now directly owns 103,066 shares in the company, valued at approximately $6,652,910.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 6.95% of the company’s stock.

Carrier Global Trading Up 1.5 %

CARR opened at $76.51 on Friday. The firm has a 50 day simple moving average of $68.05 and a 200 day simple moving average of $63.17. Carrier Global Co. has a fifty-two week low of $45.68 and a fifty-two week high of $77.48. The company has a market cap of $68.94 billion, a price-to-earnings ratio of 53.50, a price-to-earnings-growth ratio of 2.94 and a beta of 1.32. 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 (NYSE:CARR) last issued its 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 company had revenue of $6.70 billion during the quarter, compared to analysts’ expectations of $7.05 billion. During the same quarter in the previous year, the company posted $0.79 EPS. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Carrier Global Co. will post 2.84 earnings per share for the current year.

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.