Parallel Advisors LLC Purchases 1,103 Shares of Carrier Global Co. (NYSE:CARR)

Parallel Advisors LLC boosted its stake in Carrier Global Co. (NYSE:CARR) by 6.7% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 17,656 shares of the company’s stock after purchasing an additional 1,103 shares during the quarter. Parallel Advisors LLC’s holdings in Carrier Global were worth $1,114,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Nordea Investment Management AB boosted its holdings in Carrier Global by 5.5% in the first quarter. Nordea Investment Management AB now owns 822,954 shares of the company’s stock valued at $47,633,000 after acquiring an additional 43,002 shares in the last quarter. Nomura Holdings Inc. bought a new stake in Carrier Global in the fourth quarter valued at $973,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in Carrier Global by 50.1% in 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 acquiring an additional 130,192 shares in the last quarter. GLOBALT Investments LLC GA bought a new stake in Carrier Global in the fourth quarter valued at $859,000. Finally, United Services Automobile Association boosted its holdings in Carrier Global by 9.2% in the fourth quarter. United Services Automobile Association now owns 26,758 shares of the company’s stock valued at $1,537,000 after acquiring an additional 2,244 shares in the last quarter. Institutional investors own 91.00% of the company’s stock.

Insiders Place Their Bets

In other Carrier Global 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 value of $4,026,758.10. Following the completion of the transaction, the vice president now owns 103,066 shares of the company’s stock, valued at approximately $6,652,910.30. The sale was disclosed in a legal filing with the SEC, which is available through this link. 6.95% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Morgan Stanley assumed coverage on shares of Carrier Global in a report on Friday, September 6th. They set an “equal weight” rating and a $75.00 target price on the stock. Robert W. Baird dropped their target price on shares of Carrier Global from $75.00 to $74.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. Baird R W upgraded shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a report on Monday, July 15th. 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 report on Friday, August 16th. Finally, Citigroup upgraded shares of Carrier Global from a “neutral” rating to a “buy” rating and boosted their target price for the company from $65.00 to $74.00 in a report on Monday, June 24th. One analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Carrier Global presently has an average rating of “Moderate Buy” and a consensus target price of $71.73.

Carrier Global Price Performance

CARR opened at $76.51 on Monday. The stock has a 50-day moving average price of $68.05 and a 200-day moving average price of $63.28. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.08 and a quick ratio of 0.80. The firm has a market cap of $68.94 billion, a PE ratio of 53.50, a P/E/G ratio of 2.94 and a beta of 1.32. Carrier Global Co. has a 1 year low of $45.68 and a 1 year high of $77.48.

Carrier Global (NYSE:CARR) last issued its earnings results on Thursday, July 25th. The company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. The business had revenue of $6.70 billion during the quarter, compared to analyst estimates of $7.05 billion. During the same quarter in the previous year, the firm earned $0.79 EPS. Carrier Global’s revenue was up 11.7% on a year-over-year basis. Sell-side analysts predict that Carrier Global Co. will post 2.84 earnings per share for the current fiscal year.

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.