Meyer Handelman Co. Lowers Stake in Carrier Global Co. (NYSE:CARR)

Meyer Handelman Co. reduced its stake in shares of Carrier Global Co. (NYSE:CARRGet Rating) by 0.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 157,425 shares of the company’s stock after selling 1,400 shares during the quarter. Meyer Handelman Co.’s holdings in Carrier Global were worth $5,614,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in CARR. Gilman Hill Asset Management LLC boosted its position in Carrier Global by 27.2% in the second quarter. Gilman Hill Asset Management LLC now owns 60,185 shares of the company’s stock valued at $2,146,000 after buying an additional 12,870 shares during the last quarter. IFM Investors Pty Ltd grew its holdings in shares of Carrier Global by 5.2% during the 2nd quarter. IFM Investors Pty Ltd now owns 157,036 shares of the company’s stock worth $5,600,000 after purchasing an additional 7,719 shares during the period. Steigerwald Gordon & Koch Inc. grew its holdings in shares of Carrier Global by 1.5% during the 2nd quarter. Steigerwald Gordon & Koch Inc. now owns 262,988 shares of the company’s stock worth $9,378,000 after purchasing an additional 3,969 shares during the period. Wendell David Associates Inc. boosted its holdings in Carrier Global by 2.7% during the 2nd quarter. Wendell David Associates Inc. now owns 18,870 shares of the company’s stock valued at $673,000 after acquiring an additional 505 shares during the period. Finally, RB Capital Management LLC purchased a new position in Carrier Global during the 2nd quarter valued at about $260,000. 85.58% of the stock is owned by hedge funds and other institutional investors.

Carrier Global Stock Down 0.4 %

Shares of Carrier Global stock traded down $0.14 during midday trading on Friday, hitting $36.06. The company’s stock had a trading volume of 92,330 shares, compared to its average volume of 4,159,087. The firm has a market capitalization of $30.35 billion, a P/E ratio of 11.53, a PEG ratio of 1.79 and a beta of 1.34. The stock has a 50-day simple moving average of $40.40 and a 200-day simple moving average of $40.32. The company has a quick ratio of 1.25, a current ratio of 1.67 and a debt-to-equity ratio of 1.19. Carrier Global Co. has a 1-year low of $34.12 and a 1-year high of $57.97.

Carrier Global (NYSE:CARRGet Rating) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.07. Carrier Global had a return on equity of 29.10% and a net margin of 13.50%. The business had revenue of $5.21 billion during the quarter, compared to analyst estimates of $5.15 billion. As a group, sell-side analysts expect that Carrier Global Co. will post 2.33 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CARR has been the topic of several research analyst reports. Wells Fargo & Company lifted their price target on Carrier Global from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Monday, August 1st. Mizuho cut their price target on Carrier Global from $45.00 to $38.00 and set a “neutral” rating for the company in a report on Monday, July 18th. Morgan Stanley upped their target price on Carrier Global from $43.00 to $44.00 and gave the company an “overweight” rating in a research note on Thursday, September 1st. Credit Suisse Group set a $41.00 target price on Carrier Global in a research note on Tuesday, July 19th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Carrier Global from $49.00 to $43.00 in a research note on Monday, July 18th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $47.08.

Carrier Global Company Profile

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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, cooling, and ventilation needs of residential and commercial customers.

Further Reading

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

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