Wealthspire Advisors LLC Has $272,000 Stock Holdings in Carrier Global Co. (NYSE:CARR)

Wealthspire Advisors LLC lessened its stake in shares of Carrier Global Co. (NYSE:CARR) by 50.2% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 4,312 shares of the company’s stock after selling 4,346 shares during the quarter. Wealthspire Advisors LLC’s holdings in Carrier Global were worth $272,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. JPMorgan Chase & Co. increased its position in Carrier Global by 280.1% during the first quarter. JPMorgan Chase & Co. now owns 23,098,687 shares of the company’s stock worth $1,342,727,000 after acquiring an additional 17,021,768 shares during the period. Norges Bank bought a new position in Carrier Global during the fourth quarter worth about $444,487,000. Capital International Investors increased its position 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. PineStone Asset Management Inc. increased its position in Carrier Global by 139.7% during the second quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company’s stock worth $404,903,000 after acquiring an additional 3,741,206 shares during the period. Finally, Capital Research Global Investors increased its position in Carrier Global by 3.3% during the fourth quarter. Capital Research Global Investors now owns 92,829,907 shares of the company’s stock worth $5,333,084,000 after acquiring an additional 2,961,923 shares during the period. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Trading Up 1.2 %

Shares of Carrier Global stock opened at $78.00 on Wednesday. The firm has a market capitalization of $70.28 billion, a PE ratio of 54.55, a price-to-earnings-growth ratio of 2.94 and a beta of 1.32. 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’s 50 day moving average is $68.64 and its 200 day moving average is $63.59. Carrier Global Co. has a 1 year low of $45.68 and a 1 year high of $78.00.

Carrier Global (NYSE:CARR) last posted its earnings results 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 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 the consensus estimate of $7.05 billion. During the same period last year, the company earned $0.79 EPS. The firm’s revenue was up 11.7% compared to the same quarter last year. Equities research analysts forecast that Carrier Global Co. will post 2.84 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, VP Ajay Agrawal sold 62,382 shares of Carrier Global stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $64.55, for a total transaction of $4,026,758.10. Following the sale, 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 SEC, which can be accessed through this link. 6.95% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CARR shares. Oppenheimer raised 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. Wolfe Research raised shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Morgan Stanley started coverage on shares of Carrier Global in a report on Friday, September 6th. They issued an “equal weight” rating and a $75.00 target price on the stock. Baird R W raised shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a report on Monday, July 15th. Finally, Royal Bank of Canada raised their target price on shares of Carrier Global from $72.00 to $79.00 and gave the company an “outperform” rating in a report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Carrier Global presently has an average rating of “Moderate Buy” and a consensus target price of $71.73.

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.