Legal & General Group Plc Cuts Stock Holdings in Carrier Global Co. (NYSE:CARR)

Legal & General Group Plc cut its stake in Carrier Global Co. (NYSE:CARR) by 0.8% in the second quarter, HoldingsChannel reports. The firm owned 6,468,512 shares of the company’s stock after selling 49,801 shares during the quarter. Legal & General Group Plc’s holdings in Carrier Global were worth $408,034,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of CARR. Olistico Wealth LLC purchased a new position in shares of Carrier Global in the 2nd quarter valued at about $25,000. Meeder Asset Management Inc. raised its holdings in Carrier Global by 675.0% in the second quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock valued at $29,000 after acquiring an additional 405 shares in the last quarter. EdgeRock Capital LLC purchased a new position in Carrier Global in the second quarter worth approximately $32,000. United Community Bank acquired a new position in Carrier Global during the 4th quarter worth approximately $34,000. Finally, Register Financial Advisors LLC acquired a new position in Carrier Global during the 1st quarter worth approximately $34,000. 91.00% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on CARR shares. Barclays lifted their price objective on shares of Carrier Global from $79.00 to $81.00 and gave the stock an “overweight” rating in a research report on Friday, June 14th. Royal Bank of Canada lifted their price target on Carrier Global from $72.00 to $79.00 and gave the stock an “outperform” rating in a report on Thursday, September 5th. Morgan Stanley assumed coverage on Carrier Global in a report on Friday, September 6th. They issued an “equal weight” rating and a $75.00 price objective on the stock. Robert W. Baird decreased their target price on Carrier Global from $75.00 to $74.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. Finally, Wells Fargo & Company upped their price target on Carrier Global from $66.00 to $73.00 and gave the company an “equal weight” rating in a report on Friday, September 6th. One analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.73.

Carrier Global Stock Performance

Shares of Carrier Global stock opened at $80.52 on Friday. The firm’s fifty day simple moving average is $70.75 and its 200-day simple moving average is $64.79. Carrier Global Co. has a 12 month low of $45.68 and a 12 month high of $81.64. The stock has a market capitalization of $72.55 billion, a price-to-earnings ratio of 56.31, a PEG ratio of 3.23 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 posted its quarterly earnings data on Thursday, July 25th. The company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $7.05 billion. During the same period in the previous year, the business posted $0.79 earnings per share. Carrier Global’s quarterly revenue was up 11.7% on a year-over-year basis. As a group, equities analysts forecast that Carrier Global Co. will post 2.84 earnings per share for the current year.

Insider Buying and Selling at Carrier Global

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of Carrier Global stock in a transaction that occurred on 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 transaction, the vice president now directly owns 103,066 shares in the company, valued at approximately $6,652,910.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 6.95% of the stock is owned by company insiders.

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.