Everence Capital Management Inc. Cuts Stock Holdings in Carrier Global Co. (NYSE:CARR)

Everence Capital Management Inc. reduced its position in shares of Carrier Global Co. (NYSE:CARR) by 12.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,890 shares of the company’s stock after selling 3,530 shares during the period. Everence Capital Management Inc.’s holdings in Carrier Global were worth $1,487,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in CARR. American Century Companies Inc. grew its position in shares of Carrier Global by 29.2% in the first quarter. American Century Companies Inc. now owns 16,359 shares of the company’s stock valued at $750,000 after purchasing an additional 3,700 shares during the last quarter. Panagora Asset Management Inc. grew its position in shares of Carrier Global by 40.1% in the first quarter. Panagora Asset Management Inc. now owns 36,481 shares of the company’s stock valued at $1,673,000 after purchasing an additional 10,445 shares during the last quarter. Sequoia Financial Advisors LLC grew its position in shares of Carrier Global by 23.2% in the first quarter. Sequoia Financial Advisors LLC now owns 7,493 shares of the company’s stock valued at $343,000 after purchasing an additional 1,412 shares during the last quarter. Candriam Luxembourg S.C.A. grew its position in shares of Carrier Global by 22.7% in the first quarter. Candriam Luxembourg S.C.A. now owns 65,241 shares of the company’s stock valued at $2,992,000 after purchasing an additional 12,089 shares during the last quarter. Finally, Baird Financial Group Inc. grew its position in shares of Carrier Global by 10.6% in the first quarter. Baird Financial Group Inc. now owns 786,543 shares of the company’s stock valued at $36,078,000 after purchasing an additional 75,622 shares during the last quarter. 91.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CARR has been the topic of a number of analyst reports. Citigroup raised their target price on shares of Carrier Global from $60.00 to $63.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Wells Fargo & Company decreased their target price on shares of Carrier Global from $63.00 to $57.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 7th. Royal Bank of Canada decreased their target price on shares of Carrier Global from $63.00 to $60.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 7th. Finally, Barclays raised their target price on shares of Carrier Global from $71.00 to $78.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Three research analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $60.77.

Insider Buying and Selling

In related news, CEO David L. Gitlin sold 354,539 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $54.16, for a total transaction of $19,201,832.24. Following the completion of the sale, the chief executive officer now directly owns 422,808 shares of the company’s stock, valued at approximately $22,899,281.28. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, VP Kevin J. O’connor sold 26,551 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $53.77, for a total transaction of $1,427,647.27. Following the completion of the sale, the vice president now directly owns 66,083 shares of the company’s stock, valued at approximately $3,553,282.91. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO David L. Gitlin sold 354,539 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $54.16, for a total transaction of $19,201,832.24. Following the sale, the chief executive officer now directly owns 422,808 shares of the company’s stock, valued at $22,899,281.28. The disclosure for this sale can be found here. 6.95% of the stock is owned by insiders.

Carrier Global Stock Down 1.3 %

CARR stock opened at $54.76 on Wednesday. The company’s 50 day simple moving average is $56.44 and its 200-day simple moving average is $54.76. Carrier Global Co. has a 52-week low of $40.28 and a 52-week high of $60.87. The firm has a market capitalization of $49.29 billion, a P/E ratio of 34.66, a P/E/G ratio of 2.34 and a beta of 1.39. The company has a debt-to-equity ratio of 1.58, a current ratio of 2.73 and a quick ratio of 2.40.

Carrier Global (NYSE:CARR) last posted its earnings results on Tuesday, February 6th. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.51 by $0.02. The company had revenue of $5.10 billion during the quarter, compared to the consensus estimate of $5.22 billion. Carrier Global had a net margin of 6.10% and a return on equity of 27.19%. The company’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.40 earnings per share. As a group, equities research analysts anticipate that Carrier Global Co. will post 2.82 EPS for the current year.

About Carrier Global

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.