Toronto Dominion Bank Decreases Position in Carrier Global Co. (NYSE:CARR)

Toronto Dominion Bank lowered its position in Carrier Global Co. (NYSE:CARR) by 2.0% in the second quarter, HoldingsChannel reports. The institutional investor owned 254,438 shares of the company’s stock after selling 5,087 shares during the period. Toronto Dominion Bank’s holdings in Carrier Global were worth $16,050,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Olistico Wealth LLC acquired a new stake in Carrier Global in the 2nd quarter valued at about $25,000. Meeder Asset Management Inc. grew 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 valued at $29,000 after purchasing an additional 405 shares during the last quarter. EdgeRock Capital LLC purchased a new position in shares of Carrier Global during the 2nd quarter worth approximately $32,000. Hantz Financial Services Inc. acquired a new position in shares of Carrier Global during the 2nd quarter worth approximately $35,000. Finally, Family Firm Inc. purchased a new stake in Carrier Global in the 2nd quarter valued at approximately $37,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on CARR. Wells Fargo & Company raised their price target 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. 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 target price for the company. Robert W. Baird decreased their price target on shares of Carrier Global from $75.00 to $74.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. Barclays lifted their price target on shares of Carrier Global from $79.00 to $81.00 and gave the stock an “overweight” rating in a report on Friday, June 14th. Finally, Citigroup upgraded shares of Carrier Global from a “neutral” rating to a “buy” rating and raised their target price for the stock from $65.00 to $74.00 in a research report on Monday, June 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $71.73.

Carrier Global Stock Performance

CARR stock opened at $79.78 on Friday. The company has a 50-day simple moving average of $70.21 and a 200 day simple moving average of $64.47. The company has a market capitalization of $72.02 billion, a P/E ratio of 55.79, a PEG ratio of 3.23 and a beta of 1.32. 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 fifty-two week low of $45.68 and a fifty-two week high of $81.64.

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

Insider Transactions at Carrier Global

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of the business’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 sale, 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 SEC, which is available through this link. 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.