BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Grows Stock Holdings in Carrier Global Co. (NYSE:CARR)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in Carrier Global Co. (NYSE:CARR) by 60.8% in the 2nd quarter, Holdings Channel.com reports. The firm owned 155,172 shares of the company’s stock after acquiring an additional 58,658 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Carrier Global were worth $9,788,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Carrier Global by 0.5% in the first quarter. Vanguard Group Inc. now owns 94,289,980 shares of the company’s stock worth $5,481,077,000 after buying an additional 466,829 shares in the last quarter. Capital Research Global Investors lifted its stake in shares of Carrier Global by 3.3% during the 4th quarter. Capital Research Global Investors now owns 92,829,907 shares of the company’s stock worth $5,333,084,000 after purchasing an additional 2,961,923 shares during the last quarter. Capital International Investors boosted its position in Carrier Global by 4.6% during the first quarter. Capital International Investors now owns 84,827,130 shares of the company’s stock valued at $4,931,001,000 after purchasing an additional 3,763,666 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Carrier Global by 280.1% in the first quarter. JPMorgan Chase & Co. now owns 23,098,687 shares of the company’s stock valued at $1,342,727,000 after purchasing an additional 17,021,768 shares during the last quarter. Finally, Fisher Asset Management LLC raised its holdings in Carrier Global by 2.4% in the fourth quarter. Fisher Asset Management LLC now owns 13,307,231 shares of the company’s stock worth $764,500,000 after purchasing an additional 310,453 shares in the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Insider Activity

In other news, VP Ajay Agrawal sold 62,382 shares of Carrier Global stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $64.55, for a total value of $4,026,758.10. Following the sale, the vice president now owns 103,066 shares in the company, valued at $6,652,910.30. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 6.95% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. 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 report on Thursday, September 5th. Barclays raised their target price on shares of Carrier Global from $79.00 to $81.00 and gave the company an “overweight” rating in a research note on Friday, June 14th. Bank of America raised their price objective on Carrier Global from $72.00 to $80.00 and gave the stock a “neutral” rating in a research report on Friday, September 13th. Wells Fargo & Company upped their target price 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. Finally, Morgan Stanley initiated coverage on Carrier Global in a research note on Friday, September 6th. They set an “equal weight” rating and a $75.00 price target on the stock. 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 company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $71.73.

Carrier Global Stock Performance

Shares of NYSE CARR opened at $79.67 on Thursday. The company has a 50 day simple moving average of $69.97 and a two-hundred day simple moving average of $64.37. 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 12 month low of $45.68 and a 12 month high of $81.64. The stock has a market cap of $71.92 billion, a price-to-earnings ratio of 55.71, a PEG ratio of 3.23 and a beta of 1.32.

Carrier Global (NYSE:CARR) last released 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 company had revenue of $6.70 billion during the quarter, compared to analysts’ expectations of $7.05 billion. During the same quarter in the prior year, the firm posted $0.79 EPS. Carrier Global’s quarterly revenue was up 11.7% compared to the same quarter last year. As a group, analysts predict that Carrier Global Co. will post 2.84 earnings per share 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.