Charter Trust Co. Lowers Stock Position in Carrier Global Co. (NYSE:CARR)

Charter Trust Co. cut its holdings in shares of Carrier Global Co. (NYSE:CARR) by 1.7% during the second quarter, HoldingsChannel.com reports. The fund owned 11,567 shares of the company’s stock after selling 198 shares during the quarter. Charter Trust Co.’s holdings in Carrier Global were worth $563,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in CARR. Capital International Investors lifted its holdings in shares of Carrier Global by 50.3% during the first quarter. Capital International Investors now owns 47,362,708 shares of the company’s stock worth $1,999,679,000 after purchasing an additional 15,846,189 shares during the period. Nuveen Asset Management LLC lifted its holdings in shares of Carrier Global by 221.7% during the first quarter. Nuveen Asset Management LLC now owns 11,436,481 shares of the company’s stock worth $482,848,000 after purchasing an additional 7,881,210 shares during the period. Nordea Investment Management AB lifted its holdings in shares of Carrier Global by 9,982.3% during the first quarter. Nordea Investment Management AB now owns 5,363,984 shares of the company’s stock worth $226,467,000 after purchasing an additional 5,310,782 shares during the period. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in shares of Carrier Global by 19,216.0% during the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 2,683,378 shares of the company’s stock worth $113,292,000 after purchasing an additional 2,669,486 shares during the period. Finally, Janus Henderson Group PLC lifted its holdings in shares of Carrier Global by 310.6% during the first quarter. Janus Henderson Group PLC now owns 3,339,595 shares of the company’s stock worth $140,996,000 after purchasing an additional 2,526,240 shares during the period. Institutional investors and hedge funds own 83.70% of the company’s stock.

In other news, insider David Appel sold 34,259 shares of Carrier Global stock in a transaction dated Wednesday, August 4th. The stock was sold at an average price of $57.38, for a total value of $1,965,781.42. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Ajay Agrawal sold 18,969 shares of Carrier Global stock in a transaction dated Thursday, August 19th. The shares were sold at an average price of $55.13, for a total value of $1,045,760.97. The disclosure for this sale can be found here. 0.14% of the stock is owned by insiders.

A number of equities research analysts have commented on CARR shares. UBS Group downgraded Carrier Global from a “buy” rating to a “neutral” rating and raised their target price for the company from $50.00 to $60.00 in a report on Thursday, August 12th. Barclays raised their target price on Carrier Global from $49.00 to $54.00 and gave the company an “overweight” rating in a report on Thursday, July 8th. Wolfe Research downgraded Carrier Global from an “outperform” rating to a “peer perform” rating and raised their target price for the company from $58.00 to $61.00 in a report on Tuesday, September 7th. Deutsche Bank Aktiengesellschaft raised their target price on Carrier Global from $53.00 to $60.00 and gave the company a “buy” rating in a report on Friday, July 30th. Finally, Zacks Investment Research upgraded Carrier Global from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a research report on Friday, June 25th. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $54.38.

Carrier Global stock traded up $1.28 during midday trading on Wednesday, reaching $52.97. 36,324 shares of the company were exchanged, compared to its average volume of 5,399,354. The company has a market capitalization of $45.96 billion, a price-to-earnings ratio of 18.33, a P/E/G ratio of 1.71 and a beta of 0.79. The firm’s 50-day simple moving average is $54.89 and its 200-day simple moving average is $47.93. Carrier Global Co. has a 1 year low of $28.79 and a 1 year high of $58.89. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.23 and a current ratio of 1.56.

Carrier Global (NYSE:CARR) last posted its quarterly earnings data on Thursday, July 29th. The company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.08. The firm had revenue of $5.44 billion during the quarter, compared to analysts’ expectations of $4.95 billion. Carrier Global had a return on equity of 28.73% and a net margin of 12.65%. On average, analysts forecast that Carrier Global Co. will post 2.22 EPS for the current fiscal year.

Carrier Global Company Profile

Carrier Global Corporation provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies worldwide. It operates through three segments: HVAC, Refrigeration, and Fire & Security. The HVAC segment provides products, controls, services, and solutions to meet the heating and cooling needs of residential and commercial customers.

Further Reading: Cash Asset Ratio

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Institutional Ownership by Quarter for Carrier Global (NYSE:CARR)

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