Axa S.A. Sells 372,416 Shares of Carrier Global Co. (NYSE:CARR)

Axa S.A. trimmed its holdings in Carrier Global Co. (NYSE:CARR) by 56.9% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 281,944 shares of the company’s stock after selling 372,416 shares during the period. Axa S.A.’s holdings in Carrier Global were worth $17,785,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Savant Capital LLC grew its stake in Carrier Global by 0.5% in the 2nd quarter. Savant Capital LLC now owns 32,408 shares of the company’s stock worth $2,044,000 after acquiring an additional 162 shares in the last quarter. Founders Capital Management LLC increased its holdings in Carrier Global by 3.4% during the 2nd quarter. Founders Capital Management LLC now owns 5,250 shares of the company’s stock worth $331,000 after purchasing an additional 175 shares during the period. Manchester Capital Management LLC increased its holdings in Carrier Global by 4.3% during the 1st quarter. Manchester Capital Management LLC now owns 4,385 shares of the company’s stock worth $255,000 after purchasing an additional 180 shares during the period. Sunbelt Securities Inc. raised its position in Carrier Global by 2.3% during the 1st quarter. Sunbelt Securities Inc. now owns 8,033 shares of the company’s stock valued at $467,000 after purchasing an additional 182 shares in the last quarter. Finally, Checchi Capital Advisers LLC lifted its holdings in shares of Carrier Global by 2.3% in the 1st quarter. Checchi Capital Advisers LLC now owns 8,900 shares of the company’s stock worth $517,000 after buying an additional 197 shares during the period. 91.00% of the stock is owned by institutional investors.

Carrier Global Price Performance

Shares of CARR opened at $80.52 on Friday. The company has a 50 day moving average of $70.75 and a two-hundred day moving average of $64.74. The company has a quick ratio of 0.80, a current ratio of 1.08 and a debt-to-equity ratio of 0.80. Carrier Global Co. has a twelve month low of $45.68 and a twelve month high of $81.64. The company has a market cap of $72.55 billion, a price-to-earnings ratio of 56.31, a price-to-earnings-growth ratio of 3.23 and a beta of 1.32.

Carrier Global (NYSE:CARR) last announced its 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 the consensus estimate of $7.05 billion. Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.79 EPS. As a group, analysts predict that Carrier Global Co. will post 2.84 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CARR has been the topic of several research reports. Citigroup upgraded Carrier Global from a “neutral” rating to a “buy” rating and raised their price target for the company from $65.00 to $74.00 in a research note on Monday, June 24th. 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 research report on Friday, August 16th. Baird R W raised shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 15th. Wells Fargo & Company increased 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 note on Friday, September 6th. Finally, Morgan Stanley began coverage on shares of Carrier Global in a research note on Friday, September 6th. They issued an “equal weight” rating and a $75.00 price objective for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Carrier Global has a consensus rating of “Moderate Buy” and a consensus price target of $71.73.

Insider Activity

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of the business’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 transaction of $4,026,758.10. Following the sale, the vice president now owns 103,066 shares of the company’s stock, valued at approximately $6,652,910.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate 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.