Citizens Financial Group Inc. RI Buys 3,791 Shares of Carrier Global Co. (NYSE:CARR)

Citizens Financial Group Inc. RI raised its stake in Carrier Global Co. (NYSE:CARR) by 33.8% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 15,007 shares of the company’s stock after buying an additional 3,791 shares during the period. Citizens Financial Group Inc. RI’s holdings in Carrier Global were worth $947,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CARR. Olistico Wealth LLC acquired a new position in shares of Carrier Global in the second quarter valued at approximately $25,000. Meeder Asset Management Inc. raised its stake 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 during the last quarter. EdgeRock Capital LLC bought a new position in shares of Carrier Global during the second quarter valued at $32,000. United Community Bank acquired a new position in shares of Carrier Global during the fourth quarter worth $34,000. Finally, Register Financial Advisors LLC bought a new stake in shares of Carrier Global in the first quarter worth $34,000. Institutional investors own 91.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Wells Fargo & Company raised their target price on Carrier Global from $66.00 to $73.00 and gave the stock an “equal weight” rating in a research report on Friday, September 6th. Baird R W upgraded Carrier Global from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 15th. Barclays upped their target price on Carrier Global from $79.00 to $81.00 and gave the company an “overweight” rating in a report on Friday, June 14th. Oppenheimer raised their price target on shares of Carrier Global from $70.00 to $74.00 and gave the stock an “outperform” rating in a report on Friday, August 16th. Finally, Morgan Stanley assumed 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. 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 given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $71.73.

Insider Activity at Carrier Global

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of the company’s 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 transaction, the vice president now owns 103,066 shares in the company, valued at $6,652,910.30. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 6.95% of the stock is currently owned by insiders.

Carrier Global Trading Up 1.2 %

CARR opened at $78.00 on Wednesday. The company has a market cap of $70.28 billion, a P/E ratio of 54.55, a price-to-earnings-growth ratio of 2.94 and a beta of 1.32. The company has a fifty day moving average price of $68.64 and a two-hundred day moving average price of $63.59. 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 Co. has a 1-year low of $45.68 and a 1-year high of $78.00.

Carrier Global (NYSE:CARR) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.87 earnings per share 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 for the quarter, compared to the consensus estimate of $7.05 billion. During the same period in the prior year, the business earned $0.79 EPS. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. Analysts predict that Carrier Global Co. will post 2.84 EPS for the current fiscal 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.