Carolinas Wealth Consulting LLC Purchases 2,251 Shares of Carrier Global Co. (NYSE:CARR)

Carolinas Wealth Consulting LLC grew its position in Carrier Global Co. (NYSE:CARR) by 141.4% in the second quarter, HoldingsChannel.com reports. The firm owned 3,843 shares of the company’s stock after acquiring an additional 2,251 shares during the period. Carolinas Wealth Consulting LLC’s holdings in Carrier Global were worth $242,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Olistico Wealth LLC bought a new position in shares of Carrier Global in the second quarter worth approximately $25,000. Meeder Asset Management Inc. boosted its position in shares of Carrier Global by 675.0% in the second quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock worth $29,000 after purchasing an additional 405 shares during the period. EdgeRock Capital LLC bought a new position in shares of Carrier Global in the second quarter worth approximately $32,000. Hantz Financial Services Inc. bought a new position in shares of Carrier Global in the second quarter worth approximately $35,000. Finally, Family Firm Inc. bought a new position in shares of Carrier Global in the second quarter worth approximately $37,000. 91.00% of the stock is currently owned by institutional investors.

Insider Activity at Carrier Global

In related 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 sale, the vice president now owns 103,066 shares of the company’s stock, valued at $6,652,910.30. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 6.95% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CARR shares. Wolfe Research upgraded shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Oppenheimer upped their target price on shares of Carrier Global from $70.00 to $74.00 and gave the stock an “outperform” rating in a research report on Friday, August 16th. Bank of America upped their target price on shares of Carrier Global from $72.00 to $80.00 and gave the stock a “neutral” rating in a research report on Friday, September 13th. Barclays upped their target price on shares of Carrier Global from $79.00 to $81.00 and gave the stock an “overweight” rating in a research report on Friday, June 14th. Finally, Morgan Stanley initiated coverage on shares of Carrier Global in a research report on Friday, September 6th. They set an “equal weight” rating and a $75.00 target price for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $71.73.

Carrier Global Price Performance

Carrier Global stock opened at $78.19 on Thursday. The company has a market cap of $70.45 billion, a price-to-earnings ratio of 54.68, a PEG ratio of 2.94 and a beta of 1.32. The firm’s fifty day moving average is $68.93 and its 200 day moving average is $63.69. The company has a quick ratio of 0.80, a current ratio of 1.08 and a debt-to-equity ratio of 0.80. Carrier Global Co. has a 52-week low of $45.68 and a 52-week high of $79.75.

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

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.