Bristol Gate Capital Partners Inc. Sells 83,649 Shares of Carrier Global Co. (NYSE:CARR)

Bristol Gate Capital Partners Inc. lessened its holdings in Carrier Global Co. (NYSE:CARR) by 5.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,528,049 shares of the company’s stock after selling 83,649 shares during the quarter. Carrier Global accounts for approximately 4.8% of Bristol Gate Capital Partners Inc.’s investment portfolio, making the stock its 4th biggest holding. Bristol Gate Capital Partners Inc. owned 0.17% of Carrier Global worth $96,389,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Olistico Wealth LLC acquired a new position in shares of Carrier Global during the 2nd quarter worth approximately $25,000. Meeder Asset Management Inc. grew its stake in shares of 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 buying an additional 405 shares in the last quarter. EdgeRock Capital LLC acquired a new position in Carrier Global during the second quarter worth $32,000. Hantz Financial Services Inc. acquired a new position in Carrier Global during the second quarter worth $35,000. Finally, Family Firm Inc. bought a new stake in Carrier Global during the second quarter worth $37,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Stock Up 3.0 %

CARR stock opened at $80.57 on Friday. The business’s fifty day moving average price is $69.21 and its two-hundred day moving average price is $63.81. The stock has a market capitalization of $72.59 billion, a price-to-earnings ratio of 56.34, a PEG ratio of 2.94 and a beta of 1.32. Carrier Global Co. has a fifty-two week low of $45.68 and a fifty-two week high of $81.24. 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 issued its quarterly earnings data 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. 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 during the quarter, compared to analysts’ expectations of $7.05 billion. During the same quarter in the previous year, the company earned $0.79 EPS. The business’s revenue was up 11.7% on a year-over-year basis. On average, equities analysts anticipate that Carrier Global Co. will post 2.84 earnings per share for the current year.

Insider Activity at Carrier Global

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $64.55, for a total transaction of $4,026,758.10. Following the transaction, the vice president now 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 is available through this hyperlink. 6.95% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Wells Fargo & Company boosted their price objective on shares of 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 assumed coverage on Carrier Global in a research report on Friday, September 6th. They set an “equal weight” rating and a $75.00 price target on the stock. Robert W. Baird dropped their price objective on Carrier Global from $75.00 to $74.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. Oppenheimer lifted their target price on Carrier Global from $70.00 to $74.00 and gave the stock an “outperform” rating in a research note on Friday, August 16th. Finally, Royal Bank of Canada boosted their target price on Carrier Global from $72.00 to $79.00 and gave the stock an “outperform” rating in a report on Thursday, September 5th. One analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Carrier Global presently has a consensus rating of “Moderate Buy” and a consensus target price of $71.73.

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.