Wescott Financial Advisory Group LLC Trims Position in Carrier Global Co. (NYSE:CARR)

Wescott Financial Advisory Group LLC reduced its position in Carrier Global Co. (NYSE:CARR) by 22.7% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 3,791 shares of the company’s stock after selling 1,112 shares during the period. Wescott Financial Advisory Group LLC’s holdings in Carrier Global were worth $239,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Point72 Asset Management L.P. purchased a new stake in shares of Carrier Global in the second quarter valued at $58,415,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Carrier Global by 60.8% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 155,172 shares of the company’s stock valued at $9,788,000 after buying an additional 58,658 shares during the period. Sagefield Capital LP increased its stake in shares of Carrier Global by 1.3% during the 2nd quarter. Sagefield Capital LP now owns 138,739 shares of the company’s stock valued at $8,752,000 after acquiring an additional 1,753 shares during the last quarter. Public Sector Pension Investment Board increased its stake in shares of Carrier Global by 59.5% during the 2nd quarter. Public Sector Pension Investment Board now owns 35,885 shares of the company’s stock valued at $2,264,000 after acquiring an additional 13,385 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Carrier Global by 12.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,990 shares of the company’s stock worth $340,000 after acquiring an additional 533 shares during the period. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Wall Street Analyst Weigh In

CARR has been the topic of a number of recent analyst reports. Royal Bank of Canada increased their price target on shares of Carrier Global from $72.00 to $79.00 and gave the stock an “outperform” rating in a research note on Thursday, September 5th. Citigroup raised shares of Carrier Global from a “neutral” rating to a “buy” rating and upped their price target for the stock from $65.00 to $74.00 in a research report on Monday, June 24th. Wells Fargo & Company raised their price objective on Carrier Global from $66.00 to $73.00 and gave the company an “equal weight” rating in a research report on Friday, September 6th. Baird R W raised Carrier Global from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 15th. Finally, Oppenheimer upped their price target on Carrier Global from $70.00 to $74.00 and gave the stock an “outperform” rating in a report on Friday, August 16th. One equities 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 assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Carrier Global currently has a consensus rating of “Moderate Buy” and an average target price of $71.73.

Insider Activity

In related news, VP Ajay Agrawal sold 62,382 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $6,652,910.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 6.95% of the stock is owned by insiders.

Carrier Global Stock Performance

Shares of CARR opened at $80.42 on Wednesday. Carrier Global Co. has a 52-week low of $45.68 and a 52-week high of $81.64. The firm has a market capitalization of $72.46 billion, a PE ratio of 56.24, a P/E/G ratio of 2.94 and a beta of 1.32. The firm has a 50-day moving average price of $69.76 and a 200 day moving average price of $64.21. 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 (NYSE:CARR) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. The business had revenue of $6.70 billion for the quarter, compared to analyst estimates of $7.05 billion. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter last year, the business earned $0.79 earnings per share. On average, sell-side analysts anticipate that Carrier Global Co. will post 2.84 earnings per share 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.