Cullen Frost Bankers Inc. Has $8.35 Million Holdings in Carrier Global Co. (NYSE:CARR)

Cullen Frost Bankers Inc. decreased its holdings in shares of Carrier Global Co. (NYSE:CARR) by 1.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 132,419 shares of the company’s stock after selling 2,608 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Carrier Global were worth $8,353,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of CARR. Vanguard Group Inc. boosted its stake in Carrier Global by 0.5% in the first quarter. Vanguard Group Inc. now owns 94,289,980 shares of the company’s stock valued at $5,481,077,000 after acquiring an additional 466,829 shares during the last quarter. Capital Research Global Investors lifted its stake in shares of Carrier Global by 3.3% in the 4th quarter. Capital Research Global Investors now owns 92,829,907 shares of the company’s stock valued at $5,333,084,000 after purchasing an additional 2,961,923 shares during the period. Capital International Investors boosted its position in shares of Carrier Global by 4.6% in the 1st quarter. Capital International Investors now owns 84,827,130 shares of the company’s stock worth $4,931,001,000 after purchasing an additional 3,763,666 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Carrier Global by 280.1% during the first quarter. JPMorgan Chase & Co. now owns 23,098,687 shares of the company’s stock worth $1,342,727,000 after purchasing an additional 17,021,768 shares during the period. Finally, Fisher Asset Management LLC increased its holdings in Carrier Global by 2.4% in the fourth quarter. Fisher Asset Management LLC now owns 13,307,231 shares of the company’s stock valued at $764,500,000 after purchasing an additional 310,453 shares during the last quarter. 91.00% of the stock is owned by institutional investors.

Insider Transactions at Carrier Global

In related news, VP Ajay Agrawal sold 62,382 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $64.55, for a total transaction of $4,026,758.10. Following the completion of the transaction, the vice president now owns 103,066 shares in the company, valued at $6,652,910.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 6.95% of the company’s stock.

Carrier Global Price Performance

CARR stock opened at $69.48 on Friday. The stock has a 50-day moving average price of $66.98 and a two-hundred day moving average price of $62.54. Carrier Global Co. has a 1 year low of $45.68 and a 1 year high of $73.06. The stock has a market cap of $62.60 billion, a PE ratio of 48.59, a price-to-earnings-growth ratio of 2.90 and a beta of 1.32. The company has a current ratio of 1.08, a quick ratio of 0.80 and a debt-to-equity ratio of 0.80.

Carrier Global (NYSE:CARR) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. The business had revenue of $6.70 billion during the quarter, compared to the consensus estimate of $7.05 billion. During the same period last year, the company earned $0.79 earnings per share. Carrier Global’s quarterly revenue was up 11.7% on a year-over-year basis. Equities analysts forecast that Carrier Global Co. will post 2.84 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CARR shares. Bank of America upgraded Carrier Global from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $55.00 to $72.00 in a report on Monday, July 29th. Wells Fargo & Company lifted 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. Robert W. Baird lowered their target price on shares of Carrier Global from $75.00 to $74.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. Morgan Stanley assumed coverage on shares of Carrier Global in a report on Friday. They issued an “equal weight” rating and a $75.00 target price on the stock. Finally, Citigroup raised shares of Carrier Global from a “neutral” rating to a “buy” rating and boosted their price target for the company from $65.00 to $74.00 in a report on Monday, June 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $69.38.

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.