Harmony Asset Management LLC Trims Stock Holdings in Carrier Global Co. (NYSE:CARR)

Harmony Asset Management LLC cut its holdings in shares of Carrier Global Co. (NYSE:CARR) by 6.1% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 57,033 shares of the company’s stock after selling 3,724 shares during the quarter. Carrier Global makes up approximately 1.5% of Harmony Asset Management LLC’s holdings, making the stock its 16th largest holding. Harmony Asset Management LLC’s holdings in Carrier Global were worth $3,598,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. JPMorgan Chase & Co. grew its position in shares of Carrier Global by 280.1% in the 1st quarter. JPMorgan Chase & Co. now owns 23,098,687 shares of the company’s stock worth $1,342,727,000 after acquiring an additional 17,021,768 shares in the last quarter. Capital International Investors boosted its holdings 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 valued at $4,931,001,000 after buying an additional 3,763,666 shares during the period. PineStone Asset Management Inc. grew its position in shares of Carrier Global by 139.7% during the 2nd quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company’s stock valued at $404,903,000 after buying an additional 3,741,206 shares during the last quarter. Capital Research Global Investors raised its stake in Carrier Global by 3.3% during the fourth quarter. Capital Research Global Investors now owns 92,829,907 shares of the company’s stock worth $5,333,084,000 after acquiring an additional 2,961,923 shares during the period. Finally, Bristol Gate Capital Partners Inc. bought a new position in Carrier Global in the fourth quarter worth about $92,651,000. 91.00% of the stock is owned by institutional investors and hedge funds.

Carrier Global Stock Performance

NYSE:CARR opened at $79.92 on Monday. The company has a 50-day moving average of $69.49 and a 200-day moving average of $64.06. The firm has a market cap of $72.01 billion, a price-to-earnings ratio of 55.89, a price-to-earnings-growth ratio of 2.94 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 Co. has a twelve month low of $45.68 and a twelve month high of $81.24.

Carrier Global (NYSE:CARR) last issued its 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. The firm had revenue of $6.70 billion during the quarter, compared to analysts’ expectations of $7.05 billion. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period last year, the firm posted $0.79 earnings per share. Analysts forecast that Carrier Global Co. will post 2.84 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CARR. Oppenheimer increased their price target on Carrier Global from $70.00 to $74.00 and gave the stock an “outperform” rating in a research report on Friday, August 16th. Wolfe Research upgraded shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Morgan Stanley began coverage on shares of Carrier Global in a research note on Friday, September 6th. They set an “equal weight” rating and a $75.00 target price for the company. Royal Bank of Canada raised their price target on shares of Carrier Global from $72.00 to $79.00 and gave the company an “outperform” rating in a research note on Thursday, September 5th. Finally, Baird R W upgraded Carrier Global from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 15th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Carrier Global has an average rating of “Moderate Buy” and an average target price of $71.73.

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 stock was sold at an average price of $64.55, for a total value 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 is available at the SEC website. Corporate insiders own 6.95% of the company’s stock.

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.