Gateway Wealth Partners LLC Takes Position in Carrier Global Co. (NYSE:CARR)

Gateway Wealth Partners LLC bought a new stake in shares of Carrier Global Co. (NYSE:CARR) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 3,220 shares of the company’s stock, valued at approximately $203,000.

Other hedge funds have also modified their holdings of the company. Aveo Capital Partners LLC lifted its stake in Carrier Global by 3.9% in the 4th quarter. Aveo Capital Partners LLC now owns 5,395 shares of the company’s stock worth $310,000 after acquiring an additional 205 shares in the last quarter. TD Asset Management Inc lifted its stake in Carrier Global by 10.8% in the 4th quarter. TD Asset Management Inc now owns 324,470 shares of the company’s stock worth $18,641,000 after acquiring an additional 31,561 shares in the last quarter. TFO Wealth Partners LLC lifted its stake in Carrier Global by 17,550.0% in the 4th quarter. TFO Wealth Partners LLC now owns 3,177 shares of the company’s stock worth $183,000 after acquiring an additional 3,159 shares in the last quarter. Bank of Nova Scotia lifted its stake in Carrier Global by 14.5% in the 4th quarter. Bank of Nova Scotia now owns 101,937 shares of the company’s stock worth $5,856,000 after acquiring an additional 12,930 shares in the last quarter. Finally, California State Teachers Retirement System lifted its stake in Carrier Global by 0.4% in the 4th quarter. California State Teachers Retirement System now owns 1,322,827 shares of the company’s stock worth $75,996,000 after acquiring an additional 5,786 shares in the last quarter. 91.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CARR shares. Wells Fargo & Company increased their price objective on Carrier Global from $66.00 to $73.00 and gave the stock an “equal weight” rating in a research note on Friday, September 6th. Morgan Stanley initiated coverage on Carrier Global in a research report on Friday, September 6th. They issued an “equal weight” rating and a $75.00 target price on the stock. Baird R W raised Carrier Global from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 15th. Citigroup raised Carrier Global from a “neutral” rating to a “buy” rating and upped their target price for the stock from $65.00 to $74.00 in a research report on Monday, June 24th. Finally, Wolfe Research raised Carrier Global from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Carrier Global presently has a consensus rating of “Moderate Buy” and an average price target of $71.73.

Carrier Global Stock Performance

Shares of NYSE CARR opened at $80.49 on Tuesday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.80 and a current ratio of 1.08. The firm has a market cap of $72.52 billion, a price-to-earnings ratio of 56.29, a P/E/G ratio of 3.23 and a beta of 1.32. The business’s 50-day simple moving average is $71.00 and its 200-day simple moving average is $65.00. Carrier Global Co. has a 52 week low of $45.68 and a 52 week high of $81.64.

Carrier Global (NYSE:CARR) last issued 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. The business had revenue of $6.70 billion for the quarter, compared to analyst estimates 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 quarter in the prior year, the firm posted $0.79 EPS. As a group, equities research analysts expect that Carrier Global Co. will post 2.84 earnings per share for the current fiscal year.

Insider Buying and Selling at Carrier Global

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of the firm’s 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 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 Securities & Exchange Commission, which is accessible through this link. Insiders own 6.95% of the company’s stock.

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.