HBK Sorce Advisory LLC Sells 1,169 Shares of Carrier Global Co. (NYSE:CARR)

HBK Sorce Advisory LLC reduced its holdings in Carrier Global Co. (NYSE:CARR) by 11.7% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,843 shares of the company’s stock after selling 1,169 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Carrier Global were worth $558,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Olistico Wealth LLC acquired a new stake in shares of Carrier Global in the 2nd quarter valued at about $25,000. Meeder Asset Management Inc. increased its holdings in shares of Carrier Global by 675.0% during the second quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock valued at $29,000 after acquiring an additional 405 shares in the last quarter. EdgeRock Capital LLC acquired a new position in shares of Carrier Global during the second quarter worth approximately $32,000. United Community Bank bought a new position in shares of Carrier Global in the 4th quarter worth $34,000. Finally, Register Financial Advisors LLC acquired a new stake in Carrier Global in the 1st quarter valued at $34,000. 91.00% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP Ajay Agrawal sold 62,382 shares of the 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 completion of 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 6.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CARR. Morgan Stanley started coverage on shares of Carrier Global in a research note on Friday, September 6th. They issued an “equal weight” rating and a $75.00 price objective on the stock. Baird R W raised Carrier Global from a “hold” rating to a “strong-buy” rating in a report on Monday, July 15th. Citigroup upgraded Carrier Global from a “neutral” rating to a “buy” rating and raised their target price for the company from $65.00 to $74.00 in a report on Monday, June 24th. Royal Bank of Canada upped their price target on Carrier Global from $72.00 to $79.00 and gave the stock an “outperform” rating in a report on Thursday, September 5th. Finally, Wolfe Research upgraded Carrier Global from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $71.73.

Carrier Global Trading Up 1.5 %

Shares of Carrier Global stock opened at $76.51 on Friday. The firm has a market cap of $68.94 billion, a PE ratio of 53.50, a P/E/G ratio of 2.94 and a beta of 1.32. Carrier Global Co. has a 1 year low of $45.68 and a 1 year high of $77.48. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.08 and a quick ratio of 0.80. The stock has a fifty day moving average price of $68.05 and a 200-day moving average price of $63.22.

Carrier Global (NYSE:CARR) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.87 EPS 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 for the quarter, compared to analyst estimates of $7.05 billion. During the same quarter in the previous year, the firm posted $0.79 earnings per share. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. Equities research analysts anticipate that Carrier Global Co. will post 2.84 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.