Czech National Bank Boosts Stake in Carrier Global Co. (NYSE:CARR)

Czech National Bank raised its position in Carrier Global Co. (NYSE:CARR) by 7.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 171,027 shares of the company’s stock after buying an additional 11,350 shares during the period. Czech National Bank’s holdings in Carrier Global were worth $13,766,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Centaurus Financial Inc. purchased a new stake in shares of Carrier Global during the 2nd quarter worth approximately $436,000. Heritage Wealth Management Inc. bought a new position in Carrier Global in the 2nd quarter worth approximately $382,000. Sanctuary Advisors LLC bought a new position in Carrier Global in the 2nd quarter worth approximately $4,244,000. Souders Financial Advisors boosted its holdings in Carrier Global by 1.9% in the 2nd quarter. Souders Financial Advisors now owns 80,590 shares of the company’s stock worth $5,084,000 after buying an additional 1,521 shares during the period. Finally, Granite Bay Wealth Management LLC bought a new position in Carrier Global in the 2nd quarter worth approximately $2,796,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Insider Buying and Selling

In related news, VP Ajay Agrawal sold 62,382 shares of Carrier Global stock in a transaction on 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 transaction, the vice president now owns 103,066 shares in the company, valued at $6,652,910.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 6.95% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CARR. Wolfe Research raised shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Baird R W raised shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a report on Monday, July 15th. Royal Bank of Canada raised their price objective on shares of Carrier Global from $72.00 to $79.00 and gave the stock an “outperform” rating in a report on Thursday, September 5th. Morgan Stanley initiated coverage on shares of Carrier Global in a report on Friday, September 6th. They issued an “equal weight” rating and a $75.00 price objective for the company. Finally, Wells Fargo & Company raised their price target on shares of Carrier Global from $66.00 to $73.00 and gave the company an “equal weight” rating in a report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Carrier Global has an average rating of “Moderate Buy” and an average target price of $73.82.

Carrier Global Price Performance

Shares of Carrier Global stock traded up $0.75 on Friday, hitting $80.80. 2,538,631 shares of the company traded hands, compared to its average volume of 4,194,721. The firm’s 50-day simple moving average is $72.10 and its 200 day simple moving average is $65.53. The company has a current ratio of 1.08, a quick ratio of 0.80 and a debt-to-equity ratio of 0.80. The company has a market cap of $72.80 billion, a P/E ratio of 56.50, a P/E/G ratio of 3.23 and a beta of 1.32. Carrier Global Co. has a 12-month low of $45.68 and a 12-month high of $81.64.

Carrier Global (NYSE:CARR) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.02. The firm had revenue of $6.70 billion for 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 business’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter last year, the company posted $0.79 EPS. Analysts expect 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.